IAB forecasts that companies with less than 20 employees will spend an average of $50,000 to comply.
The California Attorney General Xavier Becerra’s office has released the CCPA regulations that are expected to come into effect next year. CCPA will give consumers the right to know what personal data is being collected about them.
Additionally, the regulations require providing an obvious “Do Not Sell” link to help consumers request that their data not be sold or transferred to third parties. Reacting to the regulations announced, the Interactive Advertising Bureau (IAB) warns of “further remedy” being required of CCPA’s “unintended consequences.”
The IAB estimates the initial compliance costs for California companies to reach $55 billion. Further, up to three-fourths of California companies are estimated to comply.
[3 minute read]