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USA: State Privacy Law Exemptions for Financial Institutions

In the U.S., privacy laws are quickly evolving—especially for financial services companies. A significant number of states are passing or contemplating laws to protect personal information, including consumer financial information. At the same time, U.S. federal regulators are either initiating or updating laws and regulations, including recent changes to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule and the U.S. Congress considering a federal privacy law. This ever-changing landscape makes it challenging for financial institutions to navigate whether state privacy laws apply to their operations. 
In this Data Guidance article, Loeb & Loeb of counsel Eyvonne Mallett outlines current state privacy law exemptions for financial institutions and suggests best practices for businesses in the financial space.

To read the full article, please visit Data Guidance’s website.