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⍰ ASK What role did data privacy concerns play in shaping electronic payment regulations in the United States?

Worries about keeping personal and financial info safe have been a big deal in shaping rules for electronic payments in the United States. To tackle these concerns, laws like the Gramm-Leach-Bliley Act and the California Consumer Privacy Act (CCPA) were put in place.

These rules guide banks and businesses on how to handle and secure people's info during electronic transactions.

The focus on data privacy also pushed for higher standards in the electronic payment industry, making sure service providers follow strict security measures.
 

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