Sentences with phrase «potentially huge penalties»
Next month, Europe will implement its revised General Data Protection Regulation (GDPR), imposing new data breach reporting rules and stronger consumer privacy protections, as well as potentially huge penalties for corporate violators.
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«The penalty could potentially be huge,» because each user adversely affected could be considered a violation, said Rich, now vice president of consumer policy and mobilization for Consumer Reports.
He worried that the delayed settlement could have financial consequences on the taxpayers, saying, «If that path continues and the finish line then is complete utter noncompliance under this important point, then we are potentially looking at huge fees, penalties and interception of revenues.»
Other widespread misconceptions involve awareness of when — or even if — consumers are entitled to obtain their credit scores without cost, how best to improve a credit score, the potential consequences associated with missing a student loan payment, and the relatively benign credit score penalties for — and potentially huge financial benefits of — shopping around for the best interest rates.
«The penalty could potentially be huge,» because each user adversely affected could be considered a violation, said Rich, now vice president of consumer policy and mobilization for Consumer Reports.