Consumer Protection Modifications

1. **ONE-SENTENCE SUMMARY:** SB0038 updates consumer protection laws in Utah, focusing on data privacy and transparency for businesses. 2. **KEY REQUIREMENTS:** - Inform consumers about the types of personal data collected and how it will be used. - Provide consumers with the option to opt-out of data sales. - Implement reasonable security measures to protect consumer data. - Create a clear privacy policy that is easily accessible to consumers. 3. **DEADLINES:** - Effective Date: January 1, 2024. - Compliance Deadline: All businesses must be compliant by the effective date. 4. **PENALTIES:** - Fines for non-compliance can reach up to $7,500 per violation. - Consumers can file complaints with the state’s Attorney General, who can enforce penalties. 5. **SMB IMPACT:** Small businesses will need to update their data handling practices and privacy policies to comply with the new law, which may require additional resources or training. Failure to comply could result in significant fines, so it's crucial to take action before the deadline.