The EU’s General Data Protection Regulation (GDPR) and California’s Consumer Privacy Act (CCPA) regulations provide an opportunity for executives, particularly the chief marketing officer (CMO), to drive strategic objectives rather than suffer loss of consumer confidence and data.
The EU’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) impose new digital privacy controls on companies and their customer data ecosystems. Failing to comply with the GDPR, which went into effect in May 2018, can result in severe fines of up to 4 percent of annual global revenues. Following in GDPR’s wake is the first major U.S.-based consumer privacy legislation: the CCPA. Sometimes called “GDPR-light,” the CCPA does not carry the same financial penalties, but it does enable consumers to join in class action lawsuits and outlines minimum fines associated with inappropriate uses and inadequate protection of consumer information.
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