ARLINGTON, Va.—How might the California Privacy Rights Act (CPRA)--an amendment to the California Consumer Privacy Act (CCPA)--affect credit unions with members who are California residents?
As NAFCU Senior Regulatory Compliance Counsel Keith Schostag explained, “The CCPA governs how businesses collect and use personal information of California residents.”
While Schostag said the CCPA generally does not apply to nonprofits, he points out that the law does not explicitly exempt nonprofits. Additionally, a credit union may have to follow the law if they have credit union service organizations (CUSOs), as that CUSO could meet the definition of “business” under the CCPA, he noted.
Schostag further explained CCPA specifically applies to California residents, and with remote work becoming more prevalent “credit unions may want to be aware that the CCPA now fully protects a credit union’s employees and the employees of businesses that the credit union transacts with."
Schostag said that any credit union concerned about the law should “speak to counsel familiar with the law.”
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