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Consumer Financial Protection Bureau (CFPB) Gramm-Leach-Blilely Act Banks

Cooley LLP

CFPB Finalizes Section 1033 Rule on Personal Financial Data Rights

Cooley LLP on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) released its long-awaited final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA) concerning personal financial data rights....more

Venable LLP

FTC Settles with Bankrupt Crypto Company, but Pursues CEO for Deceptive FDIC Claims

Venable LLP on

The Federal Trade Commission (FTC) announced it has reached a settlement with the bankrupt crypto company Voyager over the company’s alleged deceptive crypto marketing practices. Specifically, the FTC’s complaint alleges that...more

Manatt, Phelps & Phillips, LLP

Consumer Financial Services Law - March 30, 2017

Industry Groups Respond on Consumer Access to Financial Records - Financial industry groups responded to the Consumer Financial Protection Bureau's (CFPB) request for information on consumer access to their financial...more

Ballard Spahr LLP

ABA comments on CFPB’s RFI on consumer access to financial information

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The American Bankers Association has submitted a comment letter in response to the CFPB’s request for information regarding consumer access to financial information. The ABA observes that while larger institutions have...more

Hogan Lovells

2017 Resolutions for Community Banks: A Focus on Cybersecurity

Hogan Lovells on

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

Baker Donelson

A Treasure Trove: Publication of Complaint Data by the CFPB

Baker Donelson on

The CFPB complaint database was created with altruistic intentions. They envisioned a tool that consumers could use to search a downloadable database for research on a product or specific lender, just as they would research...more

Pillsbury - Global Sourcing Practice

Under the Thumb: Regulatory Compliance When Outsourcing Cybersecurity Management

Managed security services are often a natural “add-on” when outsourcing IT services given that data protection is integral to application development, software as a service, and cloud storage, among other services. More...more

King & Spalding

Banking Committee Chairman Introduces the Financial Regulatory Improvement Act of 2015

King & Spalding on

For more than two decades, each and every Congress has considered and adopted wide-ranging financial services legislation that has significantly altered the legal and regulatory landscape governing financial institutions in...more

Carlton Fields

CFPB Proposes Regulating Nonbank Auto Finance Companies

Carlton Fields on

On September 16, the Consumer Financial Protection Bureau (CFPB) issued and requested comment on a proposed rule that would, for the first time, subject nonbank auto finance companies to federal regulation and oversight. The...more

Allen Matkins

Financial Institutions May Post Online Privacy Disclosures

Allen Matkins on

The Consumer Financial Protection Bureau ("CFPB") recently amended Regulation P, which requires – in connection with the Gramm-Leach-Bliley Act – that financial institutions provide an annual disclosure of their privacy...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - October 2014

In This Issue: - October: National Cyber Security Awareness Month - New California Data Protection Law - Obama Signs Cybersecurity Executive Order - FTC Cautions Executives About Personal Liability for False...more

BakerHostetler

Privacy Policies Going Digital: The CFPB’s Final Rule Ditches Requirement to Distribute Annual Paper Copies

BakerHostetler on

On October 20, 2014, the Consumer Financial Protection Bureau (“CFPB”) announced that it had finalized a rule that alters the way that financial institutions provide privacy policies to their customers. Under the...more

Foley & Lardner LLP

Some Gramm-Leach-Bliley Notices Can Now Be Posted Online

Foley & Lardner LLP on

Some banks and other organizations covered under the Gramm-Leach-Bliley Act (GLBA) may now post their privacy policies online rather than having to mail them annually. Earlier this week, the Consumer Financial Protection...more

Carlton Fields

Proposed CFPB Rule Would Allow Online Posting of GLBA Privacy Notices

Carlton Fields on

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

Manatt, Phelps & Phillips, LLP

CFPB Proposes New Plan for Privacy Notices - Financial institutions may soon have a cheaper way to notify consumers about their...

Under a new proposal issued by the Consumer Financial Protection Bureau (CFPB), financial institutions could avoid the requirement to mail an annual privacy notice to customers by instead referring them to an online notice,...more

Baker Donelson

CFPB's Proposed Rule Promotes More Efficient and Effective Privacy Disclosures

Baker Donelson on

The Consumer Financial Protection Bureau (CFPB) has proposed a rule that would promote more effective privacy disclosures from financial institutions to its respective customers. Currently, the Gramm-Leach-Bliley Act (GLBA)...more

Ballard Spahr LLP

CFPB Proposes New Rules on Gramm-Leach-Bliley Act Annual Privacy Notices

Ballard Spahr LLP on

The Consumer Financial Protection Bureau recently published a proposed rule that would amend Regulation P to allow financial institutions, under certain circumstances, to deliver annual privacy notices to their customers...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

Morrison & Foerster LLP

CFPB's Promise to Ease Privacy Notice Burdens Needs Clarification

The CFPB has proposed allowing financial institutions to forgo mailing annual privacy notices by posting such notices online, if the financial institution meets certain conditions. While the proposal is welcome, it needs...more

Ballard Spahr LLP

CFPB releases compliance costs report

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The CFPB recently released a report on the operational costs of regulatory compliance. The 176-page report is entitled “Understanding the Effects of Certain Deposit Regulations on Financial Institutions’ Operations: Findings...more

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