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and getting signed by the governor in a matter of hours, in order to beat the deadline for ballot measures to be withdrawn.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 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
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
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
“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
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 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
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
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
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
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
