The National Retail Federation has launched a new initiative to promote consumer privacy in the retail experience and push back at what the association views as heavy-handed government regulation.

NRF's new Center for Consumer Privacy and Innovation "will provide thought leadership and strategic counsel in public policy discussions at the intersection of retail and the consumer," according to a statement. The multimillion-dollar initiative will promote innovation in consumer privacy and assist state and national partners in the advocacy efforts when it comes to privacy regulation.

What NRF is seeking to avoid is regulations like the soon-to-be enacted California Consumer Privacy Act, which sets new standards for how large companies store and handle the consumer data they collect. The state law is modeled after a similar regulation in place in the European Union.

"Retailers endeavor each day to earn and maintain a customer's trust and loyalty," NRF CEO Matt Shay said in a statement. "There is always another competitor across the street or across the globe eager to provide better products and services at the best possible prices. Unfortunately, public policy aimed at protecting consumer privacy could result in unintended consequences that harm continued innovation designed to benefit the consumer."

Federal privacy laws have been proposed in the past but few have gained any traction in Congress. As a result, some state legislatures are rushing to fill the perceived void with a host of new privacy and cybersecurity laws.