States are stepping up their efforts to protect the privacy of consume data, and the trend is adding to banks’ compliance challenges as stewards of vast amounts of personal information. Virginia passed a data privacy law on March 2, while California strengthened its existing data privacy law on November 3. It’s important for financial institutions to understand what information is subject to the California law and what is not, said Boris Segalis, partner in and co-chair of the data, privacy and cybersecurity practice at Goodwin. Read the American Banker article here.
In The Press March 08, 2021