State Data Protection Legislation Resource Page
Protecting Privacy and Helping Homeowners
MBA is providing this resource center to its member companies, state and local real estate finance associations and partner trade groups to help engage with state policy makers working to strengthen their consumer data protection laws. As part of this debate, it is important to recognize not just the necessity of sharing and validating data in real estate finance, but to also appreciate that this system is already subject to robust federal consumer protection laws and rules. State data protection bills must not unintentionally impede homeownership. To help inform the policy discussion on these issues, MBA is providing suggested legislative language for consideration in state bills as well as other support materials and information.
Watch MBA's Justin Wisemen Discuss Data Protection Laws and Data Protection Principles
Resources You Can Use
As state legislatures consider data protection bills during the 2020 state legislative season, MBA is offering these documents to help inform the debate and help advocate for the needs of the real estate finance industry:
- MBA Data Protection Principles
- MBA Proposed Amendment Lanugage for State Legislation
- Sample Letter to Policy Makers Asking for Consideration of Proposed Amendment Language
- Frequently Asked Questions Regarding Data Protection Bills
- Suggested Real Estate Finance Industry Talking Points on Data Protection Bills
The following are key laws and regulations governing the real estate finance industry with respect to consumer information:
- Gramm-Leach-Bliley Act Safeguards Rule
- Gramm-Leach Bliley Act Financial Privacy Rule
- Californinia Consumer Privacy Act (CCPA) Statute
- CCPA Regulations
- Nevada Statute (SB-220)
Proposed Legislation, Recent Articles and Other Resources
Proposed Legislation, Recent Articles and Other Information and Resources
- American Land Title Assocaition Developes Data Privacy Principles, February 11, 2020
- California Attorney General Proposes Updates to CCPA Rules, February 7, 2020
- Additional U.S. States Advance the State Privacy Legislation Trend in 2020, National Law Journal, January 29, 2020
- MBA Sends Letter to the House Committee on Energy and Commerce with its Principles for Privacy and Cybersecurity Reform
- The New State Battleground: Privacy & Security, MBANewslink, January 17, 2020
- National Conference of State Legislatures Digital Privacy and Security: Overview of Resources, January 10, 2020
- Washington State Bill (SB-6281), The Washington Privacy Act
- Florida State Bill (SB-1670/HR-963)
- Nebraska State Bill (LB-746), The Nebraska Consumer Data Privacy Act
- New Hampshire State Bill (HB-1680)
- Maryland State Bill (HB-237)
- CCPA Compliance Costs Expected to Reach $55B (Equivalent to Approximately 1.8% of 2018 California Gross State Product), CA Attorney General Economic Impact Statement, August 2019
- National Conference of State Legislatures: 2019 State Consumer Data Privacy Legislative Tracker
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