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John C. Redding quoted in Auto Finance News article, “Senate Banking Committee urges oversight of data security”

Auto Finance News

John C. Redding

John C. Redding was quoted on February 15, 2019 in an Auto Finance News article, “Senate Banking Committee urges oversight of data security,” which discussed the committee’s push for “close scrutiny” over the way financial institutions collect, use, and protect consumer information. The article stated, “The Senate Banking Committee’s most recent interest in stricter data security oversight follows California’s Consumer Privacy Act, which gives consumers authority over their personal information and how institutions use it. The law, which goes into effect in January 2020, gives the state’s attorney general authority to fine financial institutions that violate the new regulation.”

Redding noted, “The increased interest in data security laws is expected, considering California’s influence over Capitol Hill. I hear some talk in Washington, D.C., of looking to California to see whether data security should be considered on a federal basis.”

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