One of the myriad of issues arising from the California Consumer Privacy Act (CCPA) is the extent to which financial institutions subject to the Gramm-Leach-Bliley Act (GLBA) must comply with the CCPA’s requirements in light of Section 1798.145(e), which provides that the CCPA “shall not apply to personal information collected, processed, sold, or disclosed pursuant to [the GLBA], and implementing regulations.” Because the CCPA’s definition of “personal information” is broader than the GLBA’s definition of “nonpublic personal information,” financial institutions have been faced with the daunting task of not only data mapping but also classifying that data based on whether it is subject to the GLBA. Continue Reading Analyzing How Financial Institutions are Treated in Proposed State Privacy Laws
Following the GDPR, the California Consumer Privacy Act (CCPA) and other newly introduced state privacy legislation, the Washington Senate has proposed its own GDPR-like consumer privacy act. Washington Senate Bill 5376, the Washington Privacy Act, as first proposed on January 22, 2019 and substituted February 24, 2019 applies “not only to technologies and products of today but to technologies and products of tomorrow.” If approved, it will go into effect July 31, 2021.
The Act will apply to legal entities that conduct business in Washington or produce products or services that intentionally target Washington residents. These entities must also either (1) control or process data of at least 100,000 consumers or (2) derive 50 percent gross revenue from the sale of personal information and process or control personal information of at least 25,000 consumers. Under the Act, personal data is any information that is linked or reasonably linkable to an identified or identifiable natural person.
Continue Reading Proposed Washington Privacy Act Seeks to Protect Consumer Data Privacy from Current and Future Technology Advancements