American financial institutions which weren’t required to react to the European Union’s GDPR data privacy rules aren’t off the hook. California’s Consumer Privacy Act will impact institutions with any customers in California, and rumors of exclusions for GLBA data may not hold true. In addition, New Jersey and Washington State have recently proposed their own legislation, with suggestions of federal efforts gaining traction. Taking a step back from regulations, progressive companies are re-thinking how they collect and utilize customer data, as the global trend toward customer-centric policies becomes difficult to ignore.
This 75 minute conversation will look at both the big picture of privacy trends and examine the next steps that financial institutions should take to prepare for the 2020 deadlines baked into the California law. (Hint: Compliance can take a very long time.)