January 1, 2020, marks the beginning of a new year, a new decade and a new layer of compliance in California, as the California Consumer Privacy Act goes into effect. The CCPA is intended to enhance privacy rights and consumer protection for residents of California and companies doing business with California residents. The law requires that any person or organization doing business in California with revenue in excess of $25 million annually; any business that collects information on 50,000 or more people (or devices); or a business that makes over 50% of its annual revenue from the sale of personal information must comply. This is serious business and the implications of the law fall squarely on the banking, mortgage and fintech industries.
In an effort to explain the impact of CCPA on the mortgage technology industry, Roostify’s general counsel and chief compliance officer Eric Drattell has answered a series of questions about this complex consumer data privacy law in a new downloadable eBook.
