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Troutman Pepper

2024 Mid-Year Review: State AGs Shaping Regulatory Landscapes

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In 2024, the landscape of state attorneys general (AGs) is poised for significant change, with numerous elections and regulatory actions reshaping priorities and enforcement strategies. This dynamic environment reflects the...more

Troutman Pepper

More Privacy, Please – February 2024

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Editor’s Note: In recent regulatory and enforcement developments, the White House announced a new executive order aimed at strengthening cybersecurity at U.S. ports, and another executive order was issued to protect sensitive...more

Alston & Bird

The Digital Download – Alston & Bird’s Privacy & Data Security Newsletter – February 2024

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Selected U.S. Privacy and Cyber Updates - NYDFS Releases Circular Letter on Use of AI in Insurance Underwriting and Pricing - On January 17, 2024, the New York State Department of Financial Services (NYDFS) issued a proposed...more

Dechert LLP

White House Issues Sweeping Executive Order on AI: Key Takeaways

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President Biden’s recent Executive Order on Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence: Establishes a federal government-wide effort to mitigate risks of improper AI development and use. ...more

Goodwin

CFPB Personal Financial Data Rights Proposal: What Are Your Obligations?

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On October 17, 2023, the Consumer Financial Protection Bureau (CFPB) published a long-awaited notice of proposed rulemaking for its Proposed Financial Data Rights Rule, implementing Section 1033 of the Dodd-Frank Act....more

Eversheds Sutherland (US) LLP

CFPB previews consumer data portability rule meant to accelerate US open banking adoption

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued an advance notice of proposed rulemaking (ANPR) with respect to a new consumer financial data portability rule mandated by Section 1033 of the...more

Arnall Golden Gregory LLP

CFPB Proposes a Rule on Personal Financial Data Rights

The fourth quarter of 2023 has seen significant proposed rulemaking from regulators. Just over a week after the Federal Trade Commission issued its Notice of Proposed Rulemaking on its “junk fees” rule, the Consumer Financial...more

Cadwalader, Wickersham & Taft LLP

The CFPB's Personal Data Financial Rights Proposed Rule, Part 1

On Thursday, October 19, 2023, the Consumer Financial Protection Bureau (“CFPB”) released a proposed rule addressing “personal data financial rights”, as we reported last week that they would be doing later in October. The...more

Troutman Pepper

CFPB Launches Rulemaking to "Jumpstart" Open Banking

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On October 19, the Consumer Financial Protection Bureau (CFPB) issued its highly anticipated notice of proposed rulemaking under Section 1033 of the Consumer Financial Protection Act of 2010 (CFPA). The proposed Personal...more

Wilson Sonsini Goodrich & Rosati

CFPB Announces Proposed Rules to Accelerate Open Banking

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited proposed rule regulating “Personal Financial Data Rights” (the proposed rule). The proposed rule implements Section 1033 of the...more

Brownstein Hyatt Farber Schreck

CFPB Proposes Long-Awaited Data Sharing Rule

On Oct. 19, 2023, the Consumer Financial Protection Bureau (CFPB) released a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data Rights, which would change the way financial institutions hold and distribute...more

Jones Day

The Consumer Financial Protection Bureau Announces Sweeping Rulemaking for Companies That Collect and Furnish Personal Data

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On August 15, 2023, the Consumer Financial Protection Bureau ("CFPB") announced it was launching a rulemaking aimed at subjecting any company or entity that collects and sells consumer data to the Fair Credit Reporting Act...more

Orrick, Herrington & Sutcliffe LLP

Oregon is 11th state to enact comprehensive privacy legislation

On July 18, the Oregon governor signed SB 619 (the Act) to establish a framework for controlling and processing consumer personal data in the state. Oregon follows California, Colorado, Connecticut, Virginia, Utah, Iowa,...more

Troutman Pepper

More Privacy, Please – July 2023

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Editor’s Note: Texas, Oregon, and Delaware became the latest states to pass a comprehensive privacy bill, while the CPRA, Connecticut, and Colorado’s privacy laws came into force. In the litigation world, the FTC filed an...more

Wilson Sonsini Goodrich & Rosati

European Commission Proposes New Rules on Financial Data Access and Use

On June 28, 2023, the European Commission (EC) published a Proposal for a Regulation on Financial Data Access (FIDA). FIDA aims to create a framework through which data holders (e.g., banks, credit institutions) share the...more

Orrick, Herrington & Sutcliffe LLP

Colorado releases second draft of Colorado Privacy Act rules

On December 21, the Colorado attorney general released a second set of draft rules for the Colorado Privacy Act (CPA). As previously covered by a Buckley Special Alert, the CPA was enacted in July 2021 to establish a...more

Oberheiden P.C.

Are You a Financial Institution? GLBA Law & Compliance

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The Gramm-Leach-Bliley Act (GLBA) is a federal law that establishes various legal requirements for companies that qualify as “financial institutions” under the Act. The GLBA’s definition of a “financial institution” is...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #280 – Using Biometric Information for Payments and Services

Many individuals already use facial recognition technology to authenticate and authorize payment through their smartphone. According to Jupiter Research, by 2025 (only four years away), 95 percent of smartphones will have...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - January 2021 #3

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CYBERSECURITY - NYDFS - Cybersecurity Certificate of Compliance Due April 15, 2021 The New York Department of Financial Services (DFS), which regulates certain covered entities and licensed persons in the financial...more

Bradley Arant Boult Cummings LLP

Privacy Litigation Updates for the Financial Services Sector: Yodlee and Envestnet Sued for Data Disclosure and Processing...

Consumers are more aware than ever of data privacy and security issues. As technology develops, vast quantities of data are collected on individuals every minute of every day. Customers trust their institutions to keep the...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - August 2020

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CYBERSECURITY - Maze Continues to Strike Companies - It is being reported by ZDNet that the Maze ransomware group has attacked two companies that, apparently, refused to pay the requested ransom, so Maze, as it...more

Goodwin

Financial Services Weekly Roundup: The OCC’s True Lender Test Embraces A Simplified Solution

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In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more

Proskauer - New Media & Technology

Members of Congress Request FTC Investigation of Financial Data Company’s Collection and Privacy Practices

Last week, Democratic Senators Ron Wyden and Sherrod Brown and Congresswoman Anna Eshoo sent a letter to FTC Chairman Joseph J. Simons urging the agency to investigate whether analytics firm Envestnet, Inc. (which operates...more

Kramer Levin Naftalis & Frankel LLP

What Funds Should Know About The New Cayman Islands Data Protection Law

The Cayman Islands recently implemented data protection legislation similar to that adopted elsewhere in the world, including the EU’s General Data Protection Regulation (GDPR). The GDPR forced many businesses outside its...more

Seyfarth Shaw LLP

CCPA Amendments – What did California Actually Do?

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The rush for California to get all of the “rules of the road” ready for next year has seemed to cause a bit of confusion with California’s privacy law. Draft regulations were published the same day the Governor signed into...more

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