CCPA
California regulation for consumer data privacy rights
Basel III
Global framework for bank capital, leverage, and liquidity standards
Quick Verdict
CCPA grants California consumers data rights like know, delete, opt-out for privacy compliance, while Basel III mandates bank capital, leverage, liquidity buffers for financial stability. Companies adopt CCPA to avoid fines and build trust; Basel III to ensure resilience and meet supervisory standards.
CCPA
California Consumer Privacy Act (CCPA/CPRA)
Key Features
- Right to opt-out of personal data sales and sharing
- Rights to know, access, delete, and correct personal information
- Threshold-based applicability for California businesses ($25M revenue/100K consumers)
- Mandatory notices at collection and Do Not Sell/Share links
- Private right of action for data breaches with statutory damages
Basel III
Basel III: International Regulatory Framework for Banks
Key Features
- Higher CET1 capital minimums and conservation buffers
- Non-risk-based leverage ratio backstop
- Liquidity Coverage Ratio for 30-day stress survival
- Net Stable Funding Ratio for one-year funding stability
- Enhanced Pillar 3 disclosures for RWA comparability
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
CCPA Details
What It Is
The California Consumer Privacy Act (CCPA), as amended by the California Privacy Rights Act (CPRA), is a state regulation establishing consumer privacy rights for California residents. It targets for-profit businesses meeting thresholds like $25M revenue or handling data of 100K+ consumers. Primary purpose: grant rights over personal information (PI) including sales/sharing opt-outs. Approach: rights-based with risk-prioritized obligations, notices, and enforcement.
Key Components
- Consumer rights: know/access, delete, correct, opt-out sales/sharing, limit sensitive PI.
- Notices at collection, privacy policies, vendor contracts.
- Global Privacy Control (GPC) honoring, data minimization.
- Enforcement by CPPA and Attorney General; fines $2,500-$7,500/violation; private breach actions. No certification; compliance via audits and documentation.
Why Organizations Use It
Mandatory for qualifying businesses to avoid fines, litigation, reputational harm. Drives data governance efficiency, trust-building, market differentiation. Aligns with GDPR-like regimes for scalability; reduces breach risks.
Implementation Overview
Phased: scoping/gap analysis (0-3 months), policies/contracts (1-4 months), technical controls (2-6 months), operationalization/training, audits. Applies globally to CA data handlers; cross-functional for tech/retail/finance. No formal certification; self-audits and metrics essential.
Basel III Details
What It Is
Basel III is the global regulatory framework issued by the Basel Committee on Banking Supervision (BCBS) post-2007 financial crisis. It establishes prudential standards for banks, focusing on enhancing capital quality, constraining leverage, and ensuring liquidity resilience. The framework uses a multi-metric, risk-based approach with risk-weighted assets (RWA), non-risk-based leverage, and standardized liquidity ratios.
Key Components
- **Pillar 1Minimum capital ratios (CET1 4.5%, Tier 1 6%, Total 8%), buffers (conservation 2.5%, countercyclical, G-SIB/D-SIB), leverage ratio (3%), LCR/NSFR (100%).
- **Pillar 2Supervisory review and ICAAP.
- **Pillar 3Enhanced disclosures for comparability.
- Built on three-pillar structure; compliance via national implementation, no global certification.
Why Organizations Use It
Banks implement for mandatory regulatory compliance in jurisdictions worldwide. It boosts resilience to shocks, reduces systemic risk, improves RWA comparability, and enables better balance-sheet optimization. Benefits include lower funding costs, stakeholder trust, and strategic asset allocation.
Implementation Overview
Phased enterprise transformation: gap analysis, data/IT upgrades, model governance, training, Pillar 3 reporting. Targets internationally active banks; varies by jurisdiction (e.g., EU CRR3, US endgame). Supervised via national authorities, RCAP assessments.
Key Differences
| Aspect | CCPA | Basel III |
|---|---|---|
| Scope | Consumer privacy rights and data protection | Bank capital, leverage, liquidity standards |
| Industry | All businesses meeting CA thresholds, global reach | Banks and financial institutions, international |
| Nature | State privacy regulation, mandatory for thresholds | International banking standards, implemented nationally |
| Testing | Data inventories, request handling audits | Stress tests, ICAAP, supervisory reviews |
| Penalties | $2,500-$7,500 per violation, private breach actions | Supervisory enforcement, capital restrictions, fines |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about CCPA and Basel III
CCPA FAQ
Basel III FAQ
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