2019

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Why Should My [New York/New Jersey/East of the Rocky Mountains] Financial Institution Worry About the California Consumer Privacy Act?

GDB Firm Blog

You may have read about the California Consumer Privacy Act, effective next year. It is California's effort to implement the "Right to be Forgotten" and to force companies to delete data at a consumer's request. A lot of commentators claim that the law applies to businesses outside California.

Privacy 40
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No Good Deed Goes Unpunished. The Unintended Consequences Of Protecting Elderly Customers

GDB Firm Blog

Reporting elder abuse does not violate federal privacy rules. Many banks have programs to protect elderly customers against financial abuse. SARs are required and being filed - 68,000 from 2012 to 2017. DFS has provided guidance and a list of red flags and recommends reports to Adult Protective Services (APS).