The CPRA: What Should Banks Expect From CCPA 2.0?
In November 2020, the California voters approved Proposition 24, “The California Privacy Rights Act of 2020” (CPRA). The CPRA is a comprehensive amendment to California’s first attempt at a privacy law, the California Consumer Privacy Act (CCPA), enacted in 2018. While the CPRA was approved two years ago, most of its substantive provisions do not become operative until January 1, 2023. While the first draft of the CPRA regulations were issued on July 8, 2022, they have yet to be issued in final form. Additionally, the B2B Exemption and Employment Exemption are both set to expire on January 1, 2023. This panel will discuss what banks should expect from these changes to the CCPA come January 1, 2023 and beyond.