Issue Area
Data Privacy & Financial Technology
Data Privacy & Financial Technology
Every time we use our phones or computers, data is collected about us, often without our knowledge or active consent. Data, like where we go and what we shop for, is collected and sold. It is later used by any person or company willing to pay the price to influence our behavior, target advertising, and even to funnel us, unknowingly, into particular products or services.
Texas Appleseed is addressing data privacy as part of our Fair Financial Services work to support individual control over our personal information. Texas is making progress upholding individual privacy rights, with new data privacy and data broker registration laws. It is important to ensure personal data privacy rights are effective and keep up with evolving technology.
In addition to data privacy issues, Texas Appleseed is also monitoring new financial technology products and services to ensure that they are covered by appropriate consumer protections and do not lead to negative financial outcomes for Texans.
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Key Statistics
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4,000
There’s over 4,000 data brokers in the world. They generate billions of dollars annually collecting and selling people’s personal information to anyone willing to pay, which can compromise financial safety and security.
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3
In 2023, Texas became the 3rd state to require the registration of data brokers. This is a major milestone in helping Texans gain control over their data.