27 minutes | Dec 2nd 2020

What Recent CCPA Updates Mean for Bankers

The California Consumer Privacy Act, which took effect at the beginning of 2020 and has had both regulatory and statutory amendments since then, has been described as “GDPR for California,” and it has effects far beyond the Golden State as it applies to companies that collect the personal information of California residents, wherever they are headquartered. On the ABA Banking Journal Podcast, ABA VP Kitty Ryan discusses: Circumstances in which CCPA may apply to banks apart from exemptions for data covered by the Gramm-Leach-Bliley Act and the Fair Credit Reporting Act The extent of CCPA’s application outside of California Different compliance approaches banks might take based on their market footprints, business activities and the applicability of exemptions New consumer rights added to CCPA in a successful November 2020 ballot initiative, as well as a newly created California privacy regulator Additional resources: ABA staff analysis of CCPA ABA staff analysis of August 2020 CCPA rules ABA staff analysis of the California Privacy Rights Act, the November 2020 initiative  ABA Frontline Compliance Training course on consumer privacy that includes CCPA
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