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AFSA to Hold Webinar on New Calif. Privacy Law

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AFSA will host a webinar on September 7 about the recently-passed California Consumer Privacy Act of 2018 (AB 375/Chapter 55) and the new requirements for financial institutions doing business in the state. Although the requirements will not take effect until 2020, it is important for companies to consider how the significant changes will affect their relationships with customers.

The push for a new privacy law in California began as a proposed ballot initiative following a series of high profile data breaches and the implementation of the General Data Protection Regulation (GDPR) in Europe. Organizers for the wide-reaching proposed ballot initiative submitted signatures in early May, and the initiative was set to be included on the ballot during the November 2018 midterm elections. The state legislature sought a way to stop the initiative by crafting compromise legislation and passed the bill, contingent on the initiative sponsors withdrawing their proposal. As a result of the deal, AB 375 made its way through the legislature in a matter of days, passing both chambers and getting signed by the governor in a matter of hours, in order to beat the deadline for ballot measures to be withdrawn. The final bill may have been less stringent than the proposed initiative, but it still includes significant new requirements.

AFSA’s webinar, featuring Rick Fischer from Morrison Foerster and Meghan Musselman from Hudson Cook, will look in-depth at the new requirements companies face. Among other requirements, the law gives consumers the right to: learn the categories of personal information that businesses collect, sell, or disclose about them, and to whom information is sold or disclosed; request that a business delete any personal information about the consumer; and opt out of the sale of personal information by a business. The law also creates a private right of action for security breaches.

AFSA members can register for the webinar on AFSA’s website.

AFSA to Hold Webinar on New Calif. Privacy Law
Aug 30, 2018

AFSA will host a webinar on September 7 about the recently-passed California Consumer Privacy Act of 2018 (AB 375/Chapter 55) and the new requirements for financial institutions doing business in the state. Although the requirements will… Read the rest

Federal Reserve Banks Offer Webinar on Consumer Complaint Practices
Aug 29, 2018

Representatives from the Federal Reserve Banks of Kansas City and San Francisco discussed aspects of consumer complaint practices for banks on August 29. The webinar addressed how regulators use consumer complaints to gauge the adequacy… Read the rest

MoneySKILL® Registrants on the Rise
Aug 27, 2018

It’s the most wonderful time of the year…back to school!

From New York to California and Oregon to South Carolina, hundreds of instructors have recently registered to access MoneySKILL as part of the 2018-19 school year.… Read the rest

AFSA Supports Kraninger Nomination Approval
Aug 23, 2018

“The American Financial Services Association (AFSA) supports the Senate Banking Committee’s approval of the nomination of Kathy Kraninger as the next Director of the Bureau of Consumer Financial Protection (BCFP) and is Read the rest

AFSA Opening New Communication Channel to Members
Aug 22, 2018

The American Financial Services Association (AFSA) is launching a new communications channel for AFSA members and potential members. In early September, AFSA will air it’s first-ever podcast focusing on a discussion of issues relevant… Read the rest

AFSA to Hold Webinar on New Calif. Privacy Law
Aug 21, 2018

AFSA will host a webinar on September 7 about the recently-passed California Consumer Privacy Act of 2018 (AB 375/Chapter 55) and the new requirements for financial institutions doing business in the state. Although the requirements will… Read the rest

Historical Perspective on Loss Mitigation
Aug 16, 2018

In today’s environment, it’s critical that lenders examine their strategies because:

· Uninsured rates on prime portfolios are now 15% to 20%

· One in eight motorists, or 13%, are uninsured; Florida… Read the rest

Stable used vehicle pricing bodes well for auto lenders
Aug 15, 2018

Average used vehicle wholesale prices registered a slight increase in July after four months of year-over-year declines, according to Tom Kontos, Chief Economist for KAR Auction Services.

“However, this was primarily due, once … Read the rest

The New California Privacy Law: What You Need to Know
Aug 13, 2018

Join AFSA on Friday, Sept. 7 at 11 a.m. ET as Rick Fischer, Senior Partner, Morrison Foerster, and Meghan Musselman, Partner, Hudson Cook, take a look at California’s new data privacy law. Following the example Europe set with General… Read the rest

“Millennial Effect” shaping auto industry’s future
Aug 10, 2018

Today’s “Millennial Effect” is influencing how people of all ages think about vehicle ownership. This generational phenomena is on course to alter the automotive and auto finance industry going forward. According Read the rest

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