News & Analysis as of

Data Privacy Financial Institutions

Stikeman Elliott LLP

AI Use by Financial Institutions: Québec’s AMF Publishes Draft Guidelines

Stikeman Elliott LLP on

On July 3, 2025, Québec’s financial institutions regulator – the Autorité des marchés financiers (“AMF”) – published draft guidelines (“Draft Guidelines”) on the use of artificial intelligence systems (“AI Systems”) by...more

K2 Integrity

[Webinar] Lonely Wolves: The Case for Deeper Collaboration to Prevent Fraud - September 9th, 9:00 am ET

K2 Integrity on

Fraud is a systemic issue and always involves more than one financial institution. Yet, there is no jurisdiction-wide technological solution for combating fraud; irrespective of the robustness of their individual counterfraud...more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes new rule to implement Section 1033 on consumer data rights

On August 22, the CFPB issued an advance notice of proposed rulemaking in the Federal Register seeking public comments and data to inform its decisions on implementing Section 1033 of the Dodd-Frank Act (the Personal...more

Ballard Spahr LLP

CFPB invites comments on new Section 1033 ‘open banking’ rule

Ballard Spahr LLP on

As promised, the CFPB is issuing an Advance Notice of Proposed Rulemaking soliciting comments on the agency’s open banking rule....more

Fox Rothschild LLP

FTC Issues GLBA Safeguard Rule FAQs: What Motor Vehicle Dealers Need to Know

Fox Rothschild LLP on

The FTC has issued FAQs for Gramm-Leach-Bliley Act (GLBA) Safeguards Rule compliance by Motor Vehicle Dealers. Here is what you need to know: Step 1: Are you a financial institution? • You are if you either finance (or...more

Fisher Phillips

GLBA Set for Overhaul? 10 Questions That May Decide the Next Generation of Financial Privacy Law

Fisher Phillips on

Congress is asking the financial industry – and anyone else with a stake in consumer data – to weigh in on the future of the Gramm-Leach-Bliley Act (GLBA). On July 31, the US House Financial Services Committee leaders issued...more

Ankura

Financial Services: Data Management Strategies for AI Readiness

Ankura on

58 In the complex and highly regulated financial services environment, the cost of poor data management is staggering, estimated to cost businesses billions annually in operational inefficiencies, regulatory fines, and missed...more

Lowenstein Sandler LLP

Compliance Deadlines to Implement Significant Amendments to Regulation S-P Are Fast Approaching: Key Implications for Covered...

On May 16, 2024, the Securities and Exchange Commission (SEC) adopted sweeping amendments to Regulation S-P, which governs the privacy of nonpublic consumer personal and financial information for a broad range of financial...more

Cooley LLP

Rhode Island Enacts New Financial Institutions Cybersecurity Law With Immediate Effect

Cooley LLP on

As the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) scale back rulemaking and enforcement, states are advancing more prescriptive cybersecurity standards for financial institutions, including...more

Troutman Pepper Locke

CFPB Section 1033 Open Banking Rule Stayed as CFPB Initiates New Rulemaking

Troutman Pepper Locke on

In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the...more

Alston & Bird

Financial Institutions Permitted to Use Third Parties to Collect Customers’ Taxpayer Identification Numbers for Identity...

Alston & Bird on

Our Financial Services and White Collar, Government & Internal Investigations Teams examine the Financial Crimes Enforcement Network’s new customer identification program (CIP) exemption that allows banks and credit unions to...more

Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Consent Order Against Credit Union Early

On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 15, 2025)

Wiley Rein LLP on

FTC Sends Warning Letters Regarding Potential Noncompliance With “Made in USA” Requirements. On July 8, the FTC sent letters to a flagpole retailer, footwear maker, football equipment company, and personal care products...more

Kilpatrick

Connecticut Enacts Amendments to State’s Data Privacy Law

Kilpatrick on

On June 25, 2025, Governor Ned Lamont signed Connecticut Senate Bill 1295 into law. SB 1295 significantly amends the Connecticut Data Privacy Act (CTDPA) by lowering the threshold for applicability, broadening the definition...more

Ropes & Gray LLP

Pixel Litigation Risk at Financial Institutions

Ropes & Gray LLP on

An increasingly aggressive plaintiffs’ bar has brought purported class action suits based on the nearly ubiquitous use of tracking technologies used for website analytics. Although any actual harm to the plaintiffs is...more

Baker Donelson

Mid-Year 2025 Financial Services Litigation Update

Baker Donelson on

Litigation against banks and other financial services firms is always evolving. This mid-year 2025 update discusses trends from recent case filings and decisions and highlights the importance of awareness of new legal...more

Orrick, Herrington & Sutcliffe LLP

Where is the GLBA Entity-Level Exemption? Two More State Privacy Laws Now Apply to Financial Institutions

In May, Montana enacted Senate Bill 297, which amends the Montana Consumer Data Privacy Act (MCDPA) to eliminate the broad exemption for financial institutions subject to the Gramm-Leach-Bliley Act (GLBA). Connecticut...more

Thomas Fox - Compliance Evangelist

#Risk New York Speaker Series – Exploring Future Regulatory Trends and Compliance Strategies with Rory McGrath

Join Tom Fox and hundreds of other GRC professionals in the city that never sleeps, New York City, on July 9 & 10 for one of the top conferences around, #Risk New York. The current US landscape, shaped by evolving policies,...more

Jackson Lewis P.C.

HB1127 Explained: North Dakota’s New InfoSec Requirements for Financial Corporations

Jackson Lewis P.C. on

Earlier this year, North Dakota’s Governor signed HB 1127, which introduces new compliance obligations for financial corporations operating in North Dakota. This new law will take effect on August 1, 2025....more

Fisher Phillips

New SEC Cybersecurity Compliance Deadlines are Coming: What 5 Things Should Covered Institutions Do to Prepare?

Fisher Phillips on

The SEC’s amended Regulation S-P, adopted last year, will soon enhance data privacy protections for broker-dealers, investment companies, registered investment advisors, and transfer agents. The updated rule requires these...more

Clark Hill PLC

Right To Know - June 2025, Vol. 30

Clark Hill PLC on

Cyber, Privacy, and Technology Report - Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed. State Action: North Dakota Passes Law...more

Ballard Spahr LLP

Connecticut Amends Privacy Law

Ballard Spahr LLP on

On June 11, 2025, Connecticut passed Senate Bill 01295 (SB 01295).  If signed by the governor, SB 01295 will amend the existing Connecticut Data Privacy Act (CTDPA) in several important ways, with the amendments going into...more

Thomas Fox - Compliance Evangelist

Innovation in Compliance: Real-Time Fraud Prevention Strategies for Financial Loss Prevention with Vince Walden

Innovation is present in many areas, and compliance professionals must not only be prepared for it but also actively embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and...more

Kelley Drye & Warren LLP

House Subcommittee Considers Modernizing Financial Services Under a National Privacy Framework

On Thursday, the U.S. House Committee on Financial Services Subcommittee on Financial Institutions held a hearing entitled, ​“Framework for the Future: Reviewing Data Privacy in Today’s Financial System.” Hearing testimony...more

Orrick, Herrington & Sutcliffe LLP

Payments industry associations argue against remittance transfer tax proposal

On May 28, the Senate Committee on Finance received a joint letter from several payments industry associations urging lawmakers to reject a proposed 3.5 percent tax on remittance transfers, which includes any transfer...more

262 Results
 / 
View per page
Page: of 11

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide