Data Collection Laws
Data collection laws are designed to regulate the collection, use, and sharing of personal data by organizations. These laws are intended to protect the privacy and security of individuals' personal information and to ensure that it is not misused or disclosed without their consent. Some of the key data collection laws that you should be aware of include:
Gramm-Leach-Bliley Act
This act requires the FTC, along with federal banking agencies, to establish standards
to protect the privacy of financial institutions information regarding their consumers'
personal information. It is required that they must provide notice to customers annually
regarding their privacy policies and practices, and before they share any information with
non-affiliated third parties.
It requires these institutions to allow customers to opt out of the sharing of their information
with non-affiliated third parties. This is coupled with the regulations of protecting the security
of consumer's personal information and even limits the disclosure of account number information.
On top of protecting the privacy of consumer's information, it prohibited the use of fraudulent
statements and practices in order to collect personal information.
Gramm-Leach-Bliley Act
California Consumer Privacy Act
Established in 2018, the California Consumer Privacy Act grants consumers significantly more control over their personal information that is collected by businesses. The key privacy rights for California consumers includes:
- The right to know what personal information is being collected about them
- The right to know how personal information is being shared
- The right to delete personal information collected by companies
- The right to op-out of the sale or sharing of personal information
- The right to protection against discrimination for the exercising of these rights
This act was a massive step forward in the protection of consumer's personal information.
It was the first of its kind in the United States, and it has inspired other states to incorporate
similar laws to protect their residents. However, only a few states have followed since the enactment.
Hopefully, more states will follow and protect their residents' personal information.
California Consumer Privacy Act
Maryland Consumer Protection Act
This act was enacted in 2023, and it is designed to protect consumers from unfair or deceptive trade methods. It prohibits unfair or deceptive tactics such as, but not limited to:
- Misrepresentation
- Omission of important information
- Methods of selling
- Type of transaction
- Conduct during transaction
Data protection laws serve as the backbone of our digital privacy and security, ensuring that consumers
are being presented with the fair treatment they deserve. These laws are designed to protect our personal
information from misuse and abuse, giving us the power to control how our data is collected, used, and shared.
These laws encourage businesses to implement strong security measures, protecting our data
from cyber threats. They hold organizations accountable for their data practices, imposing
penalties for non-compliance.
Maryland Consumer Protection Act