Protecting the personal information of consumers who use financial services applications on their mobile or internet-connected devices.

1. **ONE-SENTENCE SUMMARY:** This bill aims to protect the personal information of consumers using financial services applications on mobile or internet-connected devices. 2. **KEY REQUIREMENTS:** - Implement strong data protection measures to secure consumer personal information. - Provide clear privacy notices to consumers about how their data is collected, used, and shared. - Allow consumers to access, correct, or delete their personal information upon request. 3. **DEADLINES:** - The bill is currently in the introduction stage; the effective date will be determined once passed. - Compliance deadlines will be specified in the final version of the bill. 4. **PENALTIES:** - Businesses that fail to comply may face fines, though specific amounts will be outlined in the final legislation. - Enforcement will likely be handled by state regulatory agencies. 5. **SMB IMPACT:** Small businesses that offer financial services applications will need to invest in data protection and privacy practices, which may require additional resources or changes to their operations. Ensuring compliance is crucial to avoid potential fines and protect consumer trust.