I would consider this to be good news even though privacy-invasive Facebook considers it to be a nightmare: online corporations are now legally required (in some jurisdictions) to preserve customer privacy!
The California Consumer Protection Act, or CCPA, is considered the nation’s first true data-privacy law and among the strongest aimed at the digital economy. Consumer advocates say it could usher in more state laws that hold the likes of Facebook Inc. and Alphabet Inc.’s Google more accountable for how they monetize the data of billions of people world-wide.
The CCPA officially became California law on Jan. 1, and began being enforced by California Attorney General Xavier Becerra on July 1 after a six-month grace period. When asked about it near the end of the company’s earnings conference call last month, Chief Financial Officer David Wehner launched into a long discourse about its impact on advertising, the lifeblood of Facebook.
“You know, in the near term, that’s really around implementing CCPA. And in the longer term it’s more potential for further similar regulation across the globe,” Wehner said. “We’re seeing an impact to the business from CCPA today. We don’t know what the impact will be. How things play out will depend on advertiser implementation, adoption rates in terms of opting out of tracking.
You can read more in an article by Jon Swartz in the MarketWatch website at: https://on.mktw.net/3aPvxPi.
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Categories: Legal Affairs, Online Privacy & Security
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