Two states, California and Virginia, have passed significant privacy legislation that will have sweeping effects on U.S. companies. Numerous other states including Washington, New York, and Florida, are currently considering similar legislation in ongoing legislative sessions. These enacted and potential regulations will have a significant impact on your institution's privacy and security practices. At the same time, several privacy legislation proposals have been introduced at the federal level. While many companies have called for federal legislation, it remains to be seen whether and in what form such legislation may be enacted. Among the key questions are whether federal privacy legislation will preempt state laws resulting in a uniform set of obligations, or whether states will be able to continue to pass legislation setting rights and obligations over and above those included in a federal law.
This webinar will provide a summary of the current landscape of state and federal legislative efforts, highlight areas of commonality and divergence between these regulations, and provide practical tips for actions financial institutions can be taking now to prepare in this quickly changing environment.