News & Analysis as of

Data Security Cybersecurity FinTech

Wilson Sonsini Goodrich & Rosati

Payments Playbook Series: AI in Payments

In the highly competitive payments space, where safety and efficiency tools are table stakes, financial institutions are increasingly employing artificial intelligence (AI) solutions....more

Wilson Sonsini Goodrich & Rosati

U.S. Privacy Predictions: What to Watch for in 2024

2023 was one of the busiest years for privacy yet—with more to come in 2024. Five new U.S. state privacy laws (in Texas, Florida, Oregon, Montana, and Washington) will come into effect in 2024. And federal and state...more

Latham & Watkins LLP

Latham Chairs AI Component of Global Standards Mapping Initiative

Latham & Watkins LLP on

The initiative covers a wide array of insights and guidance for the blockchain ecosystem, while a Latham-led working group explores the convergence of blockchain and AI. ...more

Morgan Lewis - Tech & Sourcing

UK Government Publishes AI Regulatory Framework

The UK government published a white paper on March 29 setting out a “pro-innovation” UK regulatory framework for artificial intelligence (AI). The framework centers upon five cross-sectoral principles, of which implementation...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

Orrick, Herrington & Sutcliffe LLP

What Fintech Companies Need to Know About Key Federal Privacy Requirements

The financial technology (“Fintech”) industry has boomed over the last decade, from the rise of mobile payment apps, robo-advisers, lending platforms, consumer-friendly brokerages to cryptocurrency trading platforms. By their...more

Morgan Lewis - All Things FinReg

Federal Banking Agencies Adopt New Computer-Security Incident Notification Requirements

The three federal banking agencies (i.e., the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency—collectively, the Agencies) published a final rule (the Rule)...more

Morgan Lewis

Expanded Safeguards Rule Applicable to More Financial Institutions; Gives More Specificity on Security Requirements

Morgan Lewis on

The Federal Trade Commission recently finalized a long-discussed update to its cybersecurity Safeguards Rule that includes more specific criteria for what financial institutions must implement as part of their information...more

Perkins Coie

Fintech Week in Review - June 2021 #2

Perkins Coie on

A buy-now pay-later company faces a potential class action alleging it hid the risk of overdraft and NSF fees from its users. Leaders of the CFPB’s Fair Lending Office published an article encouraging the use of special...more

Morgan Lewis - Tech & Sourcing

Coalition of European Banks Calls for Model Cloud Services Terms

The European Cloud User Coalition (ECUC) published a paper (the Position Paper) on May 17 recommending, among other matters, the adoption of “model clauses” for the long-term compliant use of cloud technologies....more

Goodwin

Fintech 2020: A Global Survey on the State of Financial Technology

Goodwin on

Letter from Our Co-Chairs - As the digital transformation of financial markets accelerates at breakneck speeds, fintech presents significant opportunities and challenges for both investors and innovators around the world. ...more

Burr & Forman

Cyber Still Atop Exam Priorities

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FINRA held its bi-annual Cybersecurity Conference in January and recently published five take-away real-world experiences from the conference...more

Holland & Knight LLP

FTC Kicks Off New Consumer Protection Hearings: Focuses on the Use of Big Data and Artificial Intelligence

Holland & Knight LLP on

The Federal Trade Commission (FTC) continues its comprehensive efforts to focus on consumer protection issues, including those around the use of Big Data, Artificial Intelligence (AI) and predictive analytics. These tools are...more

Kilpatrick

As Fintech Apps Become More Popular, Consumer Privacy Concerns Persist

Kilpatrick on

On August 22, 2018, The Clearing House issued a report concerning fintech apps and data privacy. The report notes how fintech apps have experienced a rapid rise in popularity in recent years, in large part because they...more

Jones Day

Global Privacy & Cybersecurity Update Vol. 13

Jones Day on

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

Mintz Edge

FinTech Companies Face Big Privacy Challenges in 2016

Mintz Edge on

According to the FBI, “there are only two types of companies: those that have been hacked and those that will be.” It does not take an actual data breach, however, for a company to be liable for its data security practices. ...more

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