Starting in July 2024, new privacy laws will be enacted in Montana, Oregon, and Texas, providing significant consumer protections regarding personal data. These laws grant consumers the right to know what information is being collected about them, the right to be forgotten, and the right to know who is accessing their information.
“These laws basically give huge superpowers to state attorney generals to enforce them,” it was emphasized.
Here’s a closer look at each state’s upcoming privacy legislation:
Montana
The Montana Consumer Data Privacy Act targets businesses operating in Montana or those offering products or services to Montana residents. The act applies to companies that:
– Control or process personal data of at least 50,000 consumers, or
– Control or process personal data of at least 25,000 consumers and derive over 25% of their gross revenue from selling personal data.
Given Montana’s smaller population, these thresholds are lower compared to other states. This law will take effect on October 1, 2024.
Oregon
The Oregon Consumer Privacy Act (OCPA) imposes duties on businesses involved in collecting, using, storing, disclosing, and analyzing personal data. It applies to any company doing business in Oregon or targeting Oregon residents, specifically those that:
– Control or process the personal data of 100,000 or more consumers (excluding data processed solely for payment transactions), or
– Control or process personal data of 25,000 or more consumers while deriving 25% or more of their annual gross revenue from selling personal data.
The OCPA exempts personal data already covered by the Gramm-Leach-Bliley Act and the Health Insurance Portability and Accountability Act. This law will take effect on July 1, 2024.
Texas
The Texas Data Privacy and Security Act (TDPSA) applies to anyone conducting business in Texas or offering products or services to Texas residents. However, the TDPSA provides exemptions for:
– Small businesses as defined by the U.S. Small Business Administration,
– Financial institutions, nonprofits, and higher education institutions,
– Protected health information under the Health Insurance Portability and Accountability Act, and
– Data regulated under the Fair Credit Reporting Act.
Most provisions of the TDPSA will take effect on July 1, 2024, with some components, such as universal opt-out mechanisms, being implemented in January 2025.
These new laws mark significant steps toward enhancing consumer privacy and empowering individuals with greater control over their personal information.
For more information on Montana: https://leg.mt.gov/bills/2023/billpdf/SB0384.pdf
For more info on Oregon: https://www.doj.state.or.us/consumer-protection/for-businesses/privacy-law-faqs-for-businesses/
For more info on Texas: https://capitol.texas.gov/tlodocs/88R/billtext/html/HB00004F.htm
Author: Jennifer Evancic
Jennifer.Evancic@ResourceManagement.com
Jennifer Evancic is a third-party auditor valued by creditors and large organizations for her knowledge in call monitoring within the collections industry. With meticulous attention to detail and a firm grasp of regulatory requirements, she ensures compliance with clients’ criteria and state and federal regulations.
Jennifer audits collections calls, ensuring they meet client-specific criteria and comply with regulations, providing valuable insights and maintaining industry standards.
Beyond her auditing responsibilities, Jennifer takes the lead in organizing and facilitating monthly call calibrations. These sessions serve as a collaborative forum where clients and their vendors come together to discuss call monitoring results and address any findings or areas for improvement. Jennifer’s guidance fosters open communication and ensures alignment between clients and vendors, driving continuous improvement in collections practices.
Jennifer stays up-to-date with compliance and industry best practices by participating regularly in peer meetings, regulatory updates and industry webinars. This keeps her informed about emerging issues and ensures she remains a knowledgeable leader in collections compliance
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