Bill > HB2380

This bill establishes new protections for consumers using financial services applications on their mobile or internet-connected devices, defining key terms like "banking service" (any service offered by a financial institution, including deposits, loans, and financial transactions), "consumer" (someone using these services via an app), "financial institution" (banks, broker-dealers, and investment advisors), "mobile or internet application" (any app on a connected device), and "personal information" (any data that can identify an individual, household, or device). The bill requires financial institutions to inform consumers if their personal information might be collected, stored, or shared beyond what's necessary to provide the banking service, and importantly, to offer consumers an "opt-out" option for such non-essential data handling. Financial institutions are also prohibited from collecting, storing, or sharing personal information if a consumer has opted out, unless it's strictly necessary for the banking service or consistent with the user agreement. Furthermore, violations of this chapter are considered unfair or deceptive acts under the Consumer Protection Act, allowing individuals to sue for statutory damages of $7,500 or actual damages.

Business and Industry

https://app.leg.wa.gov/billsummary?BillNumber=2380&Year=2025&Initiative=false