Beginning Jan. 1, 2024, data brokers operating in Oregon need to register with the Oregon Division of Financial Regulation (DFR). This requirement is in response to the recent passage of House Bill 2052, aimed at regulating the collection, sale, and licensing of personal information by data brokers.
DFR will be accepting applications for registration in early December. Data brokers intending to operate in Oregon must complete the registration process to ensure compliance with the new regulations.
Key details:
- Mandatory registration: Effective Jan. 1, 2024, data brokers must be registered in the state of Oregon to legally collect, sell, or license data from Oregon consumers.
- Application period: Applications for registration will be accepted starting early December and can be found on the DFR website. Data brokers are encouraged to apply promptly once the process begins.
- Purpose of registration: Data brokers engage in the sale of personal information for monetary gain, and registration is now a prerequisite for conducting such activities in Oregon. The passage of HB 2052 was intended to improve transparency and provide opportunities for Oregon consumers to take action to limit and curtail the use of their personal information. Uses of concern can include revealing people’s personal information with malicious intent, behavior, publicizing victim information, using personal information for discrimination, and targeting vulnerable people, including older adults and people with disabilities.
DFR emphasizes the importance of complying with the new regulatory requirements and failure to do so could result in fines or barring the data broker from operating in Oregon.
Source: Oregon Division of Financial Regulation
