The New York “Stop Hacks and Improve Electronic Data Security Act” (SHIELD Act), N.Y. Gen Bus. Law§ 899-bb, requires businesses that collect private information on New York residents to implement reasonable cybersecurity safeguards to protect that information. While this is a new law in the State of New York, it is simply joining other states,
Amended California Privacy Law Sent to Governor for Signature
By Linn Foster Freedman on
Posted in Data Privacy
We have previously reported on the anticipated impact of the new California Privacy Law—the California Consumer Privacy Act (“the Act”) [view related post].
The first amendment to the Act, (most likely be the first of many amendments) recently obtained approval from state lawmakers and is on its way to Governor Jerry Brown for signature.…
Privacy Tip #151 – Can Banks Give or Sell My Information to Facebook or Other Social Media Platforms?
By Linn Foster Freedman on
Posted in Privacy Tips, Social Media
Many readers questioned me about the Wall Street Journal article this week entitled, “Facebook to Banks: Give Us Your Data, We’ll Give you Our Users.”
The questions and comments ranged from “Can they really do this?” to “This is outrageous!”
Without getting into a legal analysis, there are laws that banks have to follow when…
FAST Act loosens financial institutions’ privacy policy notice requirements
By Norman Roos & Scott Baird on
Posted in Enforcement + Litigation
In addition to providing long-term funding for highway infrastructure improvements and other transportation projects, the newly enacted Fixing America’s Surface Transportation Act (FAST Act) seeks to reduce consumer confusion by eliminating annual privacy notice requirements for financial institutions in some circumstances.
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide consumers with notice of the…