Curto describes how firm is using technology to assist real estate industry with California Consumer Privacy Act compliance
On January 1, 2020, the California Consumer Privacy Act (CCPA) became enforceable, putting new data privacy regulations on several industries, including real estate. Similar to Europe’s General Data Protection Regulation of 2016 (GDPR), the regulation aims to require businesses to better safeguard the personal data of consumers. In real estate, this means trafficking how brokerages and real estate companies are collecting, buying, selling and accessing personal data.
As real estate becomes more digitized, “the industry as a whole is being challenged to clean up its existing data and increase transparency, while also updating or implementing new, compliant business practices,” according to Heretik in its article “Data Privacy in Real Estate.” And law firms like Bricker are helping with this compliance.
Bricker’s Litigation Support Manager and legal tech guru Lauren Curto describes that the firm “has been helping clients prepare for CCPA for several months.” According to Curto, “CCPA is only one of many new data privacy regulations that are transforming the relationship between businesses, consumers, and their data….We’re focused on helping our clients first understand what consumer data they have, evaluating and implementing new compliance policies, monitoring that compliance, as well as remedying any imposed sanctions.” In real estate, this means integrating technology solutions to assist in drafting transaction documents, performing due diligence, managing assets and serving loans.