News & Analysis as of

Biometric Information Financial Services Industry

Hudson Cook, LLP

New Texas Law Offers Financial Institutions an Innovation-Friendly AI Framework

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On May 31, 2025, Texas enacted HB 149, the Texas Responsible Artificial Intelligence Governance Act, creating one of the most comprehensive state-level frameworks to date for regulating artificial intelligence....more

Blake, Cassels & Graydon LLP

Pratiques exemplaires liées à la vérification numérique de l’identité dans le secteur canadien des services financiers

De nombreuses entreprises de services financiers sont tenues en vertu de lois et de règlements de vérifier l’identité de leurs clients. Il existe des outils technologiques novateurs qui simplifient le processus de...more

Blake, Cassels & Graydon LLP

Digital Identity Verification Best Practices for Canadian Financial Services

Many financial services businesses are subject to legal or regulatory obligations that require them to verify the identity of their customers. Although innovative technological tools, including those using artificial...more

Troutman Pepper Locke

Looking Back at 2024's Noteworthy State AG Litigation

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State attorneys general across the U.S. took bold steps in 2024 to address unlawful activities by corporations in several areas, including privacy and data security, financial transparency, children’s internet safety, and...more

DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - November/December 2024

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Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New York State Department of Financial Services Releases Guidance on Combating Cybersecurity Risks Associated With AI

On October 16, 2024, the New York State Department of Financial Services (NYDFS) released guidance highlighting the cybersecurity risks associated with artificial intelligence (AI) and how covered entities regulated by NYDFS...more

Ropes & Gray LLP

DOJ Issues Notice of Proposed Rulemaking to Restrict Flow of Bulk Sensitive Personal Data to China and other Countries of Concern

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On October 29, 2024, the Department of Justice (“DOJ”) published its Notice of Proposed Rulemaking (“NPRM”) to implement President Biden’s Executive Order 14117, “Preventing Access to Americans’ Bulk Sensitive Personal Data...more

Alston & Bird

Class Action & MDL Roundup 2023 Q4 - Not All Cases Survive and Advance

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Welcome to the Class Action & MDL Roundup, our quarterly review of decisions and settlements in the class action arena. In this edition, student-athletes win an NIL round, Canadians in California isn’t personal...more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 5, Issue 2, March 2024

HHS Cybersecurity Performance Goals and the Healthcare Industry - The healthcare industry is a major target for cyberattacks because of all of the personal information collected from patients. Recognizing that the healthcare...more

Troutman Pepper Locke

More Privacy, Please – January 2024

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NIST Publishes Report on the Cybersecurity of Genomic Data. On December 20, 2023, the NIST National Cybersecurity Center of Excellence (NCCoE) published Final NIST IR 8432, Cybersecurity of Genomic Data. Informed by direction...more

Troutman Pepper Locke

More Privacy, Please – June 2023

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Editor’s Note: Montana became the latest state to pass a comprehensive privacy bill, joining California, Virginia, Colorado, Connecticut, Utah, and Tennessee. Florida, too, passed a privacy bill, but with a much narrower...more

Katten Muchin Rosenman LLP

Privacy, Data and Cybersecurity Quick Clicks | Issue 4

Utah Is the First State to Limit Teens Under 18 From Social Media Access - Utah Gov. Spencer Cox (R) signed two bills on March 23 (SB 152 and HB 311) prohibiting children under the age of 18 from using social media between...more

Katten Muchin Rosenman LLP

BIPA: What Recent Court Decisions Mean for the Financial Industry

Class action plaintiffs' firms — spurred on by a significant recent expansion of available damages for biometric privacy suits — have begun targeting the financial industry. The Illinois Biometric Information Privacy Act...more

Orrick, Herrington & Sutcliffe LLP

Illinois Supreme Court says BIPA claims accrue with every transmission

On February 17, the Illinois Supreme Court issued a split decision holding that under the state’s Biometric Information Privacy Act (BIPA), claims accrue “with every scan or transmission of biometric identifiers or biometric...more

Orrick, Herrington & Sutcliffe LLP

Illinois Supreme Court sets five-year SOL for section 15 BIPA violations

On February 2, the Illinois Supreme Court held that under the state’s Biometric Information Privacy Act (BIPA), individuals have five years to assert violations of section 15 of the statute. ...more

Wiley Rein LLP

Tech and Telecom Stakeholders at #MWC22 Discuss Industry Collaboration Against Rising Financial Fraud

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Businesses delivering digital products and services surged during the onset of the COVID-19 pandemic when people increasingly turned to online options for healthcare, financial products and services, retail, and more....more

Fisher Phillips

Forecast: March 2022 Edition

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Welcome to FP Forecast, a monthly outlook featuring Fisher Phillips thought leaders providing their insights into what employers can expect in 2022 and beyond. By following along each month, you’ll be in the best position to...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

Robins Kaplan LLP

Financial Daily Dose 3.1.2021 | Top Story: Walmart Poaches Goldman Bankers in Bid to Bolster Fintech Venture

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Walmart’s recent move to hire away a “pair of senior Goldman Sachs bankers” to head up the retailer’s new fintech startup (a collaboration with Ribbit Capital) has tongues wagging about the company’s ambitions to shove its...more

Hudson Cook, LLP

Innovation Enhances the Delivery of Consumer Financial Services

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FinTech and RegTech Trends to Watch - Much has been written about FinTech and RegTech in the last few years and, for many lenders, such terms aren’t wholly relevant to the day-to-day operations of their businesses – or are...more

Robinson+Cole Data Privacy + Security Insider

Banks embracing biometric technology

Passwords are a pain to keep track of and it is well known that consumers use the same password for multiple platforms because none of us can remember multiple complex passwords. When a hacker obtains one password, they can...more

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