Why consumer data privacy matters, and how credit unions can prepare for regulations

By now you’ve probably heard of the California Consumer Privacy Act (CCPA), but if you’re not based in California, you may not be paying much attention… yet. Ben Herman, the CEO of MadFish Digital, joins us to talk about how the CCPA is setting a precedent for a wave of similar regulations that will keep growing in strength and complexity, much like ADA. He discusses the specific steps credit unions can take to be out in front of this trend, whether or not you’re based in California, and the ways in which COVID-19 has only heightened data privacy concerns.

Key takeaways

1. CCPA is a California law that impacts credit unions right now, assuming they have at least 50,000 visits a year (technically devices) from California. It is the first in a wave of similar regulations that will keep growing in strength and complexity, like ADA. Even if you don’t have a presence in California, it’s important to start preparing now to avoid getting caught flat-footed.

 

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