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US advertisers stand up to GDPR

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US advertisers stand up to GDPR

There’s some truth in advertising.

A coalition of advertising trade organizations is urging the Trump administration not to undermine or eliminate the ad-supported model of information dissemination when drafting regulations on data collection, privacy and third-party sharing of information.

“Advertising and marketing uses of data are hugely beneficial to consumers individually and to the economy as a whole,” the associations said.

The EU’s wide-ranging General Data Protection Regulation regime took effect in May and carries with it the potential for substantial fines for violations — up to 4% of annual revenue for the most serious breaches. It is also expected to instigate a surge in data breach and other security failure claims, according to a May report by American International Group Inc.

The advertising associations said the GDPR has already harmed the European marketplace by driving some U.S. companies away.

However, they still urge U.S. federal action on the issue rather than forcing companies to navigate a patchwork of state laws and rules, including the stringent privacy law just adopted in California. The state’s law takes effect in January 2020, and would grant consumers the right to discover what information data firms collect about them, who is collecting it, to whom it is selling it and request the information’s deletion. Consumers would have the right of private action under the law, but the state attorney general would also enforce it, with violators subject to a civil penalty of up to $7,500 for each violation.

Wonder what the slogan for this campaign will be.

 

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