Banks Begin to Feel Pressure on Privacy Debate

The Equifax breach has started to really change and shape the conversation around privacy since they are involved in so many lending decisions; the breach helped to expose the fact that banks are not very far away from significant exposure; banks are now starting to deal with new regulations on data, Europe has implemented GDPR and some states in the U.S. have enacted their own legislation; industry insiders believe financial institutions are already heavily regulated when it comes to data and privacy, but lawmakers are exploring what else can be done; banks will be best served by starting to prepare now by looking at internal procedures and getting a handle on what potential legislation could be coming their way. Source.