Large U.S. Banks Scramble to Meet EU Data Privacy Rules

Many large, internationally-active U.S. banks are struggling with the General Data Protection Regulation (GDPR), which takes effect May 25.  The regulations do not make it clear which U.S. banks must comply, but those with European offices and those that market or sell products or services to European citizens do.  For smaller regional and community banks, it’s dependent on their analysis of what their exposure to European data subjects is and what their customer base looks like.  The starting point for GDPR compliance is to conduct a privacy risk impact analysis.  

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