On December 6, BPI submitted a letter to the California Attorney General on proposed regulations under the California Consumer Privacy Act (“CCPA”). The letter calls for harmonization of the new rules with the CCPA’s statutory expectations, as well as with the long-standing frameworks banks have built under federal consumer privacy and data security standards. BPI argues that the regulations should take these programs into account to ensure that consumer protections are not unintentionally weakened by companies’ CCPA compliance efforts and proposes a number of amendments to the draft rules that would address these issues. Of note, BPI recommended that the effective date of the regulations be set at least six months after the final rules are published and that the Attorney General should not undertake enforcement actions for conduct that occurs before January 1, 2021.
You Might Also Be Interested In...
AML, Bank Secrecy Act and Sanctions BPI’s Heather Hogsett Testifies Before House Subcommittee on Cybersecurity, CISA’s Contributions
AML, Bank Secrecy Act and Sanctions FinCEN Must Preserve Beneficial Ownership Data Usefulness, Discourage Inappropriate Reporting Omissions
AML, Bank Secrecy Act and Sanctions Russian Oligarchs Hide Money in U.S. Only Reliable Data Can Stop Them.
AML, Bank Secrecy Act and Sanctions Business-Ownership Registry Access Rules Should Ensure Banks Can Focus on Threats
AML, Bank Secrecy Act and Sanctions BPI and ABA Respond to FinCEN Advanced Notice of Proposed Rulemaking on Establishing a No Action Letter Process
AML, Bank Secrecy Act and Sanctions Financial Crime Fighters’ Huge Tech Revamp Is More Urgent Than Ever. Here’s What’s Needed to Finish It
AML, Bank Secrecy Act and Sanctions BPI Recommends Changes to Suspicious Activity Report Sharing Pilot Program to Encourage Participation
More Posts by This Author
Bank Liquidity Why Regulators Should Consider Banks’ Borrowing Capacity from the Fed in Liquidity Assessments