Senate Bill No. 1338, effective October 1, 2025, introduces regulations governing minors' access to money-sharing application accounts. The bill prohibits any licensee from allowing an individual to sponsor or open such an account for a minor without a notarized statement confirming their status as the minor's parent or legal guardian. It also requires that licensees delete a minor's account within 15 business days upon receiving a deletion request from the minor or their guardian, with certain exceptions. The bill outlines the process for these requests, mandating secure submission methods and notification if authentication fails. Violations are classified as unfair trade practices, enforceable only by the Attorney General, and the bill clarifies that it does not create a private right of action.

Additionally, the bill establishes new procedures for the processing of minors' personal data, requiring licensees to cease processing such data within 15 business days of a deletion request. The definition of "personal data" is clarified to exclude de-identified data and publicly available information. Licensees are exempt from these requirements if other laws require the preservation of a minor's account or personal data. The bill allows for a 15-business day extension for account deletion under specific conditions, such as request complexity. Licensees must also inform minors and their guardians about secure methods for submitting deletion requests in a privacy notice, and the bill explicitly states that it does not create a private right of action or grounds for class action under the Connecticut Unfair Trade Practices Act (CUTPA).