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Consumer Financial Protection Bureau (CFPB) Data Breach Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

Financial services industry trade groups pen letter to Treasury Secretary Bessent on cybersecurity risks

On June 9, multiple financial services trade associations sent a letter to Treasury Secretary Scott Bessent expressing concerns about cybersecurity risk management practices at federal regulatory agencies following the OCC’s...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Goodwin

2024 Year in Review: Data Privacy and Cybersecurity

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Welcome to the “Data Privacy and Cybersecurity” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. Consumer financial services regulators are taking a keen interest in artificial intelligence...more

Pillsbury - Internet & Social Media Law Blog

From Encryption to Employment, U.S. Federal Agencies Brace for the Effects of Quantum Computing, AI and More

In this week’s edition of Consumer Protection Dispatch, we look at the latest regulatory developments from the U.S. Department of Commerce, Consumer Financial Protection Bureau, and the Securities and Exchange Commission...more

Eversheds Sutherland (US) LLP

A Measured Approach - US Cybersecurity and Data Privacy Review and Update: Looking back on our 2023 articles and planning ahead...

Technological advances, especially in Artificial Intelligence and quantum computing, will continue to amaze in the coming years. They will open up vast new opportunities while presenting profound regulatory, litigation, and...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 13, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 8, November 2023

FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches - “Amendment will require non-bank financial institutions to report when they discover that information affecting...more

Akerman LLP

Explainer Things: Episode 9

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Fall is finally in the air as temperatures drop (in some parts of the country, at least) and football season is in full swing. We’ve previously avoided writing about football because our Explainer Things cast can’t agree on...more

Venable LLP

CFPB Releases FCRA Rulemaking Outline Topics

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The Consumer Financial Protection Bureau (CFPB) is currently considering a rulemaking to address various consumer reporting topics under the Fair Credit Reporting Act (FCRA) and has released an Outline of Proposals and...more

Orrick, Herrington & Sutcliffe LLP

CFPB reports on servicemember identity theft

On January 12, the CFPB released an Issue Spotlight discussing identity theft affecting servicemembers. According to the report, servicemembers, veterans, and military family members are more likely to report identity theft...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 12

Student Loans - Supreme Court Likely to Rule that Biden Student Loan Plan is Illegal, Experts Say. Here’s What that Means for Borrowers - “Long before the president acted, Republicans had criticized student loan...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 31, 2022)

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CFPB Releases Outline of Proposals and Alternatives to Implement Section 1033 of the CFPA. On October 27, the CFPB released a Small Business Advisory Review Panel Outline of Proposals and Alternatives Under Consideration...more

Goodwin

CFPB Issues Circular Confirming that Financial Companies May Violate Consumer Financial Protection Law by Failing to Protect...

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In August 2022, the Consumer Financial Protection Bureau (CFPB) published a circular confirming that, under certain circumstances, entities may “violate the prohibition on unfair acts or practices in the Consumer Financial...more

Ballard Spahr LLP

CFPB Warns Failure to Safeguard Consumer Data May Be Unfair Act or Practice

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On August 11, the CFPB published a circular confirming that covered persons and service providers under the Consumer Financial Protection Act (CFPA) may violate the CFPA’s prohibition against unfair acts or practices when...more

Bradley Arant Boult Cummings LLP

Chambers Global Practice Guide: Fintech 2021 Trends and Developments

Crisis has set the stage for fintech companies in 2021, creating both new opportunities and potentially unprecedented challenges to innovation. While the coronavirus pandemic continues to accelerate the digital transformation...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Morrison & Foerster LLP

Financial Services Report – Winter 2020

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Happy post-election, post-socially-distanced Thanksgiving, and pre-New Year’s newsletter. Banks, non-banks, and FinTechs can look forward to eight days of announcements from the Biden transition team with their latkes and...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - August 2020

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Robins Kaplan LLP

Financial Daily Dose 11.14.2019 | Top Story: Fed Chair Talks Economy and Rates During Congressional Testimony

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Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth...more

Ballard Spahr LLP

Equifax Reaches Historic $575 Million Settlement Agreement Arising from 2017 Data Breach

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Equifax has agreed to pay $575 million to settle consumer as well as state and federal regulatory claims for its 2017 data breach. This is the largest data breach settlement to date. ...more

Moore & Van Allen PLLC

Cybersecurity Enforcement and Regulation - 2017 In Review

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Cyber attacks continue to be a pervasive and destructive threat to all institutions and the legal and regulatory landscape currently in place to address those threats continues be reshaped in an effort to address those...more

Ballard Spahr LLP

Mnuchin to discuss Equifax data breach with FSOC

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Appearing before the House Financial Services Committee Tuesday at a hearing entitled “The Annual Report of the Financial Stability Oversight Council” (FSOC), Treasury Secretary Mnuchin indicated that he intends to discuss...more

Ballard Spahr LLP

CFPB reportedly puts investigation of Equifax on ice while other government agencies press forward

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Equifax announced on September 7, 2017 a massive data breach affecting an estimated 143 million consumers. Richard Cordray, the then Director of the CFPB, shortly thereafter authorized an investigation according to several...more

Ballard Spahr LLP

New York Regulation of Consumer Reporting Agencies Following Data Breaches

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This week, New York Governor Andrew Cuomo issued a press release directing the New York Department of State to issue a new regulation impacting consumer reporting agencies....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - November 2017 #2

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Michigan Governor Rick Snyder has signed into law the Cyber Civilian Corps Act, which established the Michigan Cyber Civilian Corps, dubbed MiC3. The corps has been in existence for three years but not statutorily deployed. ...more

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