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Consumer Financial Protection Bureau (CFPB) GLBA Privacy

Wiley Rein LLP

Wiley Consumer Protection Download (April 30, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 4, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 31, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

McGlinchey Stafford

GLBA or FCRA? Data Sharing Between Affiliates and Non-Affiliates

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When an entity shares data outside of its organization, the following questions often arise: Does the FCRA or GLBA (or both) apply to the specific type of data sharing? And how do these laws impact my company’s financial...more

Sheppard Mullin Richter & Hampton LLP

CFPB Starts Year Seeking Comments on Proposals to Give Consumers Enhanced Control of Financial Data

Recently, the CFPB released an outline of proposed measures related to the Bureau’s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers to take control of their personal financial data and determine which...more

Nelson Mullins Riley & Scarborough LLP

CFPB Scrutinizes Inadequate Data Protection Measures

The Consumer Financial Protection Bureau (“CFPB”) recently issued Consumer Financial Protection Circular 2022-04, confirming its increased focus on financial companies that violate federal consumer financial protection law...more

Bradley Arant Boult Cummings LLP

After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy Thanksgiving

Now that the pandemic’s “social distancing” is lessening, we hope you are all able to gather with friends and family this Thanksgiving. As we do the same, we wanted to count our blessings as we review the year. This year, we...more

Bradley Arant Boult Cummings LLP

CFPB Issues Advanced Notice of Proposed Rulemaking on Section 1033 for Consumer-Authorized Access to Financial Data

On October 22, 2020, the CFPB issued an advance notice of proposed rulemaking (ANPR) soliciting comments on implementation of Section 1033 of the Dodd-Frank Act. As outlined in the ANPR, Section 1033 will require consumer...more

Mitratech Holdings, Inc

Why Is Vendor Management Software So Crucial For Financial Institutions?

Vendor management is a complex task, yet a necessary undertaking for any organization dealing with third parties.  ...more

White & Case LLP

Consumer financial services: The road ahead: Marketplace lending

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The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau....more

Baker Donelson

CFPB's New Final Rule Could Have Big Impact on Privacy Requirements

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The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

Manatt, Phelps & Phillips, LLP

CFPB Updates: MLA Controversy, GLBA Amendment, Settlement, CFPB Constitutionality

In the latest Bureau of Consumer Financial Protection (CFPB or Bureau) news, the reported halt to Military Lending Act (MLA) examinations has created controversy, an amendment to the Gramm-Leach-Bliley Act (GLBA) annual...more

Baker Donelson

Financial Institutions: CFPB Finalizes Changes to Annual Privacy Notice Requirements

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The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

MoFo Reenforcement

The CFPB Catches Up to the FAST Act: Implements GLBA Annual Notice Exception

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On August 17, 2018, the Bureau of Consumer Financial Protection (CFPB) published a final rule amending its Regulation P to include an exception to the Gramm-Leach-Bliley Act (GLBA) annual privacy notice obligation. Nearly...more

Ballard Spahr LLP

CFPB finalizes changes to GLBA annual privacy notice requirement

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The CFPB has issued a final rule amending the provisions of Regulation P that implement the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement.  The final rule is intended to reflect the GLBA amendments made by...more

McGuireWoods LLP

CFPB Issues Proposed Revisions to GLBA Annual Privacy Notice Requirement

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Earlier this month, the Consumer Financial Services Bureau issued its proposed rule amending the Gramm-Leach-Bliley Act’s annual privacy notice requirement set forth in Regulation P....more

Baker Donelson

Valuable Information Security Lessons from the Olympus Mortgage vs. Guaranteed Rate Case

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Late last month a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for their claims against Guaranteed Rate (Guaranteed), which alleged Guaranteed along with other former employees of MOMC illegally...more

Locke Lord LLP

Top 10 Financial Institution Considerations for 2016: #4 – Data Security and Privacy

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In our initial article announcing our top 10 considerations for financial institutions in 2016, our fourth consideration was data security and privacy. While the recent focus has been on cybersecurity, it is important to...more

Locke Lord LLP

GLBA Annual Privacy Notice Eliminated under Certain Circumstances: Buried in a Highway Bill!

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On December 4, 2015, President Obama signed the Highway Bill, dubbed Fixing America’s Surface Transportation Act (“FAST Act”), into law. Buried in the 490 page transportation law is a significant amendment to the...more

Carlton Fields

Proposed CFPB Rule Would Allow Online Posting of GLBA Privacy Notices

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The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide customers with initial and annual notices of their privacy policies, including whether they share consumers’ non-public information with third...more

Ballard Spahr LLP

CFPB proposes new rule on GLBA annual privacy notice

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The CFPB has published a proposed rule that would amend Regulation P to allow financial institutions that satisfy certain conditions to deliver annual privacy notices to their customers using an alternative online delivery...more

Davis Wright Tremaine LLP

CFPB Proposes Alternative Delivery Method for GLBA Privacy Notice

The CFPB has proposed rules to afford financial institutions an alternative delivery method for annual privacy notices under the privacy provisions of GLBA and Regulation P (12 CFR part 1016). This alternative delivery method...more

Bradley Arant Boult Cummings LLP

FFIEC Issues Social Media Guidance: Social Media Channels Present Privacy Compliance Challenges

If you are using social media to attract and interact with customers, you should review the recent supervisory guidance from the Federal Financial Institutions Examination Council (FFIEC). The guidance, titled “Social Media:...more

Ballard Spahr LLP

CFPB joins other federal regulators in announcing GLBA privacy exemption

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On September 24, 2013, the CFPB joined the CFTC, the SEC, the FTC, the NCUA, and the prudential bank regulatory agencies (the Federal Reserve, the OCC, and the FDIC) in the issuance of an Interagency Guidance on Privacy Laws...more

Mintz - Privacy & Cybersecurity Viewpoints

Banks Encouraged to Share Information Related to Elder Abuse

One of the most common forms of elder abuse is financial exploitation. Older adults often have valuable assets and vulnerabilities, such as mental or physical disabilities, that make them prime targets by both strangers and...more

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