alt Hacker News> Companies that fail to comply can face fines of $200 per day for each affected Californian.
Does this cover things like credit reports/scores? If someone submits a request to this DROP thing, is it possible data gets deleted that they don't intend?
Replies
rustcleaner • today at 4:09 AM
I hope this is true! Consumer credit is a serious problem. How much better would it be if only corporate entities could take on debt? That goes for school, home, and car loans too. Imagine the return to sanity in pricing when Big Finance can no longer scam time-preferenced and desperate buyers! Society might have a real savings rate again!
Probably not. Under TITLE 1.81.48:
“Data broker” does not include any of the following:
(1) An entity to the extent that it is covered by the federal Fair Credit Reporting Act (15 U.S.C. Sec. 1681 et seq.).
(2) An entity to the extent that it is covered by the Gramm-Leach-Bliley Act (Public Law 106-102) and implementing regulations.
(3) An entity to the extent that it is covered by the Insurance Information and Privacy Protection Act (Article 6.6 (commencing with Section 791) of Chapter 1 of Part 2 of Division 1 of the Insurance Code).
(4) An entity, or a business associate of a covered entity, to the extent their processing of personal information is exempt under Section 1798.146. For purposes of this paragraph, “business associate” and “covered entity” have the same meanings as defined in Section 1798.146.
<https://leginfo.legislature.ca.gov/faces/codes_displayText.x...>
Credit bureaus are, I think, covered as item (1).