Businesses are watching five U.S. states where consumer privacy laws are set to take effect this year.
The passage of legislation in Colorado, Connecticut, Utah, and Virginia, plus a major amendment to the California Consumer Privacy Act that took effect in 2020, was driven by consumer demand for more control over the personal data companies collect, trade, and sell following decades of data breaches and high-profile information sharing.
“Privacy is a hot-button issue and one consumers are really in tune with,” said Jenny Holmes, deputy leader of the cybersecurity and privacy team at law firm Nixon Peabody. “It’s new and under the spotlight, so it adds pressure on companies.”
And yet, some companies see data privacy compliance as an opportunity.
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If multi-state businesses thought at the start of 2023 complying with a patchwork of U.S. state privacy laws was going to be a lot of work, now they must be overwhelmed. Experts assess the fast-evolving U.S. privacy landscape.
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