Will EU’s new data reg hit your bank?

Strict consumer data privacy and security regulations aren’t new to the financial services sector. However, the upcoming European Union General Data Protection Regulation (GDPR) and ePrivacy regulation add a new layer of complexity to existing practices, forcing financial service professionals to depart from business as usual when it comes to customer data. These regulations apply not only to banks and financial service companies in Europe, but also to U.S. banks that offer any services to EU residents and vice-versa.

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