Section 7016 - Notice of Financial Incentive(a) The purpose of the Notice of Financial Incentive is to explain to the consumer the material terms of a financial incentive or price or service difference the business is offering so that the consumer may make an informed decision about whether to participate. A business that does not offer a financial incentive or price or service difference is not required to provide a Notice of Financial Incentive.(b) The Notice of Financial Incentive shall comply with section 7003, subsections (a) and (b).(c) The Notice of Financial Incentive shall be readily available where consumers will encounter it before opting-in to the financial incentive or price or service difference. If the business offers the financial incentive or price or service difference online, the notice may be given by providing a link that takes the consumer directly to the specific section of a business's privacy policy that contains the information required in subsection (d).(d) A business shall include the following in its Notice of Financial Incentive: (1) A succinct summary of the financial incentive or price or service difference offered;(2) A description of the material terms of the financial incentive or price or service difference, including the categories of personal information that are implicated by the financial incentive or price or service difference and the value of the consumer's data;(3) How the consumer can opt-in to the financial incentive or price or service difference;(4) A statement of the consumer's right to withdraw from the financial incentive at any time and how the consumer may exercise that right; and(5) An explanation of how the price or service difference is reasonably related to the value of the consumer's data, including: (A) A good-faith estimate of the value of the consumer's data that forms the basis for offering the price or service difference; and(B) A description of the method(s) the business used to calculate the value of the consumer's data.Cal. Code Regs. Tit. 11, § 7016
1. Change without regulatory effect renumbering section 999.307 to new section 7016, including amendment of subsection hierarchy, filed 5-5-2022 pursuant to section 100, title 1, California Code of Regulations (Register 2022, No. 18).
2. Amendment of section and NOTE filed 3-29-2023; operative 3-29-2023 pursuant to Government Code section 11343.4(b)(3) (Register 2023, No. 13). Note: Authority cited: Section 1798.185, Civil Code. Reference: Sections 1798.125 and 1798.130, Civil Code.
1. Change without regulatory effect renumbering section 999.307 to new section 7016, including amendment of subsection hierarchy, filed 5-5-2022 pursuant to section 100, title 1, California Code of Regulations (Register 2022, No. 18).
2. Amendment of section and NOTE filed 3-29-2023; operative 3/29/2023 pursuant to Government Code section 11343.4(b)(3) (Register 2023, No. 13).