News & Analysis as of

Data Protection FinTech Financial Institutions

Skadden, Arps, Slate, Meagher & Flom LLP

The UK’s Pursuit of Open Finance

In April 2024, the UK government reiterated its vision for open finance, with UK Economic Secretary Bim Afolami (MP) announcing the creation of the Open Finance Taskforce at the 2024 Innovate Finance Global Summit. The...more

White & Case LLP

Unlocking Potential: GCC FinTech Trends, Regulations and Funding Outlook

White & Case LLP on

The Gulf Cooperation Council ("GCC") region, particularly the United Arab Emirates ("UAE") and the Kingdom of Saudi Arabia ("KSA"), is experiencing a dynamic transformation in its financial sector driven by the rapid rise of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Fintech Focus Podcast | What Does AI Safety Mean For Fintechs?

Fintech Focus host and European counsel Joseph Kamyar was joined by fellow fintech counsel Nicola Kerr-Shaw, a key senior member of our global Cybersecurity and Data Privacy Practice and authority on AI-related issues, for...more

Orrick, Herrington & Sutcliffe LLP

NYDFS, crypto payment service provider resolve AML/cybersecurity violations

On March 16, NYDFS issued a consent order against a payment service provider for allegedly failing to comply with the state’s virtual currency and cybersecurity regulations. The company was licensed to engage in virtual...more

BakerHostetler

Top 10 Compliance Points for New FTC Safeguards Rule

BakerHostetler on

Under the updated Rule, FIs are obligated to implement data security measures that will protect against data breaches and cyberattacks in order to prevent financial harm to consumers, including identity theft and loss of...more

Lathrop GPM

Fintechs Beware: CFPB Builds on FTC Safeguards for Consumer Data

Lathrop GPM on

On August 11, 2022, the Consumer Finance Protection Board issued Consumer Financial Protection Circular 2022-04 for enforcers of federal consumer financial laws. The new Circular reflects the consumer watchdog’s increasing...more

Perkins Coie

Fintech Legal Report - November 2021 #2

Perkins Coie on

Data Aggregators Launch Open Finance Data Security Standard - A group of data aggregator fintechs and security and compliance companies recently released a new data security standard for the open finance industry – the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Open Banking: Navigating the Emerging Regulatory Landscape

Open banking is an important driver of the fintech revolution. Regulators have recognised open banking as a means of introducing competition and innovation in the banking sector. Likewise, fintechs are seizing the...more

A&O Shearman

European Banking Authority Publishes Report on Big Data and Advanced Analytics

A&O Shearman on

The European Banking Authority has published a report on big data and advanced analytics in the banking sector. The report sets out the findings of the EBA's review of big data and analytics and presents key pillars and...more

K&L Gates LLP

Is Open Banking Coming to the United States?

K&L Gates LLP on

What is Open Banking? Open banking is a collaborative model in which banks and other similar regulated financial institutions are required to share their customers’ financial data with third parties upon the request of...more

King & Spalding

Treasury Releases Report On Technology Innovation And Use Of Consumer Data By Nonbank Financial Institutions

King & Spalding on

On July 31, the U.S. Department of the Treasury (“Treasury”) released a report outlining recommendations to streamline and modernize the regulatory environment to “better support nonbank financial institutions, embrace...more

Hogan Lovells

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

Hogan Lovells on

With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

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