Minnesota becomes the latest state to move to pass legislation regulating the processing and controlling of personal data (HF 4757 / SF 4782). If signed into law by Governor Tim Walz, the Minnesota Consumer Data Privacy Act,...more
On February 5, 2024, several national and Texas banking and business trade groups (Plaintiffs) filed a lawsuit challenging the final regulations (Final Rules) implementing the Community Reinvestment Act of 1977 (CRA) that...more
On March 7, 2024, the California Privacy Protection Agency (CPPA) released new materials for review and discussion at the agency’s board meeting on March 8, 2024. Among the materials released were draft risk assessment and...more
On February 9, 2024, California’s Third District Court of Appeals reinstated the California Privacy Protection Agency’s (“CPPA”) ability to enforce the California Privacy Rights Act of 2020 (“CPRA”) regulations. The CPRA...more
2/13/2024
/ California ,
California Privacy Protection Agency (CPPA) ,
California Privacy Rights Act (CPRA) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Management ,
Data Privacy ,
Data Protection ,
Personal Information ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
State Privacy Laws
This episode is part of our Cyber Adviser series, where we discuss emerging issues in the world of privacy and data security.
The privacy and cybersecurity landscape is evolving in the financial sector, from more specific...more
On September 18, 2023, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly published and sought comments on a proposal to implement new, standardized capital...more
On October 24, 2023, the OCC, FDIC and Board of Governors of the Federal Reserve System jointly adopted final amendments to their regulations implementing the Community Reinvestment Act of 1977 (CRA). In this episode, which...more
This is our third blog post on the final rule issued on October 24, 2023 by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency...more
12/1/2023
/ Banks ,
Community Reinvestment Act ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Lending ,
Loans ,
Notice of Proposed Rulemaking (NOPR) ,
Rulemaking Process
This is our second blog post on the final rule issued on October 24, 2023 by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency...more
11/28/2023
/ Banks ,
Community Reinvestment Act ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Lending ,
Loans ,
Notice of Proposed Rulemaking (NOPR) ,
Rulemaking Process
On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations...more
11/14/2023
/ Banks ,
Community Reinvestment Act ,
Consumer Financial Products ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loans ,
OCC
On October 19, 2023, the Consumer Financial Protection Board (“CFPB”) released a proposed rule that, if enacted, would grant consumers greater access rights to the data their financial institutions hold. Under the proposed...more
10/24/2023
/ Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Information ,
Consumer Privacy Rights ,
Dodd-Frank ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Personally Identifiable Information ,
Proposed Rules ,
Regulatory Agenda
On May 17, 2023, Montana Governor Greg Gianforte signed into law a bill banning the use of the popular app, TikTok, by the general public within the state. Absent court intervention, the ban takes effect on January 1, 2024....more
On March 30, 2023, the White House endorsed several proposals to strengthen regulatory requirements for the banking industry in the wake of the Silicon Valley Bank and Signature Bank failures. This comes on the heels of...more
2022 proved to be an historic year for privacy and data security. Connecticut and Utah joined the list of states that have now passed comprehensive data privacy laws, bringing the total to five (5) states. For the first...more
A Deep Dive Into FinCEN’s Latest Proposals Under the CTA -
On December 16, the Financial Crimes Enforcement Network (“FinCEN”) issued a 54-page notice of proposed rulemaking (“NPRM”) regarding access by authorized recipients...more
Although the replacement for the Privacy Shield has garnered bigger headlines, the United States government also took another step towards a more coordinated international privacy framework by entering into the data access...more
On September 7, 2022, newly-appointed Vice Chair for Supervision at the Federal Reserve (the “Fed”), Michael S. Barr, gave a speech outlining his near-term goals and the “holistic approach” he intends to take to achieve them....more
As we previously reported, the Office of the Comptroller of the Currency (“OCC”) rescinded its 2020 Community Reinvestment Act (“CRA”) final rule (the “2020 CRA Final Rule” or the “Rescinded Rule”) in December 2021 and has...more
After a pandemic-related hiatus in 2020, a number of U.S. states have proposed new data privacy laws in 2021 – and several are very close to passage. Virginia’s proposed data privacy law appears to be the closest and is...more
On December 18, 2020, the Office of the Comptroller of the Current (OCC), Federal Reserve Board (FRB), and Federal Deposit Insurance Corporation (FDIC) announced an interagency notice of proposed rulemaking that would require...more
On December 18, 2020, the Office of the Comptroller of the Current (OCC), Federal Reserve Board (FRB), and Federal Deposit Insurance Corporation (FDIC) announced an interagency notice of proposed rulemaking that would require...more
Summary -
Recent Securities and Exchange Commission rule amendments for exempt offerings are intended to harmonize registration exemptions to eliminate complexity and facilitate access to capital and investment—while...more
On September 9, 2020, Washington Senator Reuven Carlyle, D-Seattle, announced via Twitter that the third version of the draft Washington Privacy Act 2021 (“WPA”) was available for public review and comment. The recently...more
As companies continue to grapple with the impact of the COVID-19 outbreak on their ongoing operations, shareholder meetings have become an area of increasing concern for those companies subject to the reporting requirements...more