Please enable JavaScript.
Coggle requires JavaScript to display documents.
Privacy Laws and their effect on Business - Coggle Diagram
Privacy Laws and their effect on Business
Different privacy laws/regulations
Privacy Act of 1974
FERPA student privacy-1974
TCPA and National Do Not Call Registry-1986
HIPAA Health and Medical Privacy-1996
COPPA Children's Online Privacy
Gramm Leach Bliley Act-1999
First Chief Privacy Officer-1999
E-Government Act of 2002
State Data Breach Notification Laws-2003
Red Flags Identity Theft Protection-2010
EU right to be forgotten-2012
GDPR-2018
California Consumer Privacy Act-2020
Virginia Consumer Data Protection Act-2021
How the laws effect businesses
CCPA requires businesses to give consumers the right to know, delete, opt-out, and non-discrimination for exercising these rights (oag.ca.gov).
"Gramm-Leach-Bliley Act requires financial and gov't institutions to protect financial data from unauthorized access", (richardsandrichards.com).
Healthcare institutions have to keep patient health information protected.
The Fair and Accurate Credit Transaction Act (FACTA) requires businesses to properly dispose of confidential information (richardsandrichards.com).
CCPA requires privacy notice on business websites (Green, 2021).
Strategies businesses use to comply with privacy laws
Give consumers the right to delete or opt out.
Read up on each state laws that business does business in.
Foreign countries have different privacy laws.
Need for New/Updated Privacy Laws
No uniform federal privacy law exists. Instead many states and federal acts that can create confusion.
Reduced compliance costs if the U.S. creates a law similar to EU's GDPR.
Only six U.S. states have newer updated data breach rules to combat privacy issues on the internet (Green, 2021). And only 3 states have privacy laws.