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American Conference Institute (ACI)

[Webinar] Top 5 Game-Changing Regulatory Shifts Impacting Financial Compliance and Board Accountability - September 24th, 1:00 pm...

Don’t miss this complimentary webinar spotlighting the five most pressing regulatory developments reshaping compliance in Canada’s financial sector. From board-level liability, to shifting enforcement priorities, get up to...more

Orrick, Herrington & Sutcliffe LLP

Banking groups seek to halt CFPB’s 1033 rule

On October 23, one bank and two banking industry groups challenged the CFPB’s 1033 Rule that would mandate banks to share sensitive customer data, such as transaction history, account balances, and account and routing numbers...more

A&O Shearman

New blog series: deep dive into the FCA and PRA proposals for D&I in financial services

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The UK financial services regulators are setting out to move the dial when it comes to diversity and inclusion (D&I) in the financial services sector. D&I strategies, targets and disclosures are all included in their new...more

Baker Donelson

Banking in the Cloud: How Financial Institutions Can Mitigate the Regulatory and Security Risks

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As organizations in the financial sector continue to migrate IT and business services to the cloud and adopt other cloud offerings, it is important that financial institutions understand the risks associated with each. A U.S....more

Troutman Pepper Locke

Reminder of June 30 Deadline: NACHA Rules Require Enhanced Protection for ACH Authorizations

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Broadly, there are two sets of rules governing obtaining authorizations to debit consumers’ bank accounts. One is Regulation E (12 C.F.R. Part 210). The other are the Operating Rules & Guidelines (the “Nacha Rules”),...more

Perkins Coie

Fintech Legal Report - November 2021 #2

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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

Sheppard Mullin Richter & Hampton LLP

Beginning in May 2022 Banks Will Have 36 Hours to Disclose Certain Types of Cyber Incidents

Federal banking regulators issued a final rule that impacts how banks and other regulated entities report certain data incidents. Those subject to these new reporting requirements include U.S. banks and bank service...more

Pillsbury Winthrop Shaw Pittman LLP

Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers

In response to increasingly frequent and sophisticated cybersecurity attacks on banks and bank service providers, the federal prudential banking regulators—the Office of the Comptroller of the Currency (OCC), the Board of...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

Eversheds Sutherland (US) LLP

A CFPB data access rule could be a win for open banking in the US

On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced plans to issue an advance notice of proposed rulemaking (ANPR) regarding consumer-authorized third party access to financial records. The...more

Akin Gump Strauss Hauer & Feld LLP

First Enforcement Action by New York Department of Financial Services Under Cybersecurity Regulation

On July 21, 2020, the New York Department of Financial Services (DFS) filed a “Statement of Charges and Notice of Hearing” (the “Charges”) against First American Title Insurance Company (the “Company”) alleging violations of...more

Goodwin

Financial Services Weekly News - December 2018

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Editor's Note - In This Issue. The Securities and Exchange Commission (SEC) adopted rules and amendments designed to promote research on mutual funds, exchange-traded funds (ETFs), registered closed-end funds, business...more

Proskauer Rose LLP

Regulation Round Up - February 2017

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The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more

Robinson+Cole Data Privacy + Security Insider

Mapco Express pays $1.9 Million in Data Breach Settlement

A Tennessee federal judge has approved a proposed settlement of up to $1.9 million to be paid by Mapco Express to individuals affected by a payment card data breach that occurred in 2013. Two banks alleged that Mapco...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

Ballard Spahr LLP

NYDFS Revises Cybersecurity Regulation, Extends Effective Date to March 1, 2017

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The New York Department of Financial Services (NYDFS) announced today a revised regulation that will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain...more

Carlton Fields

Banks to Broaden Reporting of Suspicious Cyber Activity; Regulators Propose “Enhanced” Cybersecurity Standards

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The fourth quarter of 2016 has seen an uptick in regulatory activity respecting the financial services sector in the cybersecurity space, both at the state level as previously discussed (here) and on the federal level....more

Carlton Fields

What You Must Know about New York’s Proposed Cybersecurity Regulation for the Banking, Insurance, and Financial Services Sectors

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Last week, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more

Robinson+Cole Data Privacy + Security Insider

Wells Fargo Unveils Plan to Better Protect Small Business Customer Account Information

On June 7, Wells Fargo announced a partnership with software firm, Xero, that is intended to allow small businesses to share bank information without sharing their bank passwords with third parties, such as Quicken, who...more

Baker Donelson

Recent Government Cyber Alert and Draft Guide for Financial Institutions: Lessons for All Organizations

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All organizations, including financial institutions, continue to face significant security threats across their wide ranging IT systems. Such organizations are particularly vulnerable if they cannot track networked devices...more

Bilzin Sumberg

Alphabet Soup and Data Security

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In the span of two days, mobile device users learned of two data breaches that could compromise their personal data. In one, Experian (a credit reporting agency) reported that it was hacked, potentially putting 15 million...more

Akerman LLP - Health Law Rx

“My, what beautiful eyes you have . . .” – Biometric Data and Privacy

Biometric data – obviously not in just the movies anymore. It is alive, well, and increasingly being used in our everyday society. But, on September 23, 2015, when the Office of Personnel Management revealed that fingerprint...more

The Volkov Law Group

Checking In on Sanctions Enforcement

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The Department of Treasury’s Office of Foreign Asset Control continues to ramp up sanctions enforcement. Even with the likely relaxation of the Iran and Cuba sanctions, OFAC has been continuing its aggressive enforcement...more

Bradley Arant Boult Cummings LLP

Data Breach Response Planning: Laying the Right Foundation

Part of Bradley Arant’s Privacy and Information Security Team’s seven-part Data Breach Toolkit Webinar Series, the “Data Breach Response Planning: Laying the Right Foundation” webinar, led by Paige Boshell and Amy Leopard,...more

Ballard Spahr LLP

FTC Can Regulate Cybersecurity Practices, Third Circuit Rules

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The Federal Trade Commission (FTC) can regulate cybersecurity policies and procedures as “unfair” acts or practices under Section 5 of the FTC Act, the U.S. Court of Appeals for the Third Circuit has ruled in a very important...more

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