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Data Privacy › Rulemaking Process › Regulatory Reform

McGlinchey Stafford

Changes to US Open Banking Regulation: Tea Leaves from the CFPB’s Latest Action

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The CFPB recently published an Advance Notice of Proposed Rulemaking (ANPR) to reconsider four key issues related to its “Personal Financial Data Rights” rules, which were finalized at the end of 2024 but have been mired in...more

Patomak Global Partners

CFPB Initiates New Rulemaking for Section 1033

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The Trump administration’s CFPB leadership has rolled back a series of Biden-era initiatives. As part of this deregulatory push, on 30 May, CFPB leadership signaled its intent to change course on the rulemaking mandated by...more

Morrison & Foerster LLP

On Reconsideration: CFPB Issues Another ANPR on the Open Banking Rule

Morrison & Foerster LLP on

All signs had pointed to the Consumer Financial Protection Bureau (CFPB or “Bureau”) rolling back the open banking final rule implementing Section 1033 of the Dodd-Frank Act (12 U.S.C. § 5533) (“PFDR Rule”) promulgated by the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Reopens Data Rights Debate with New 1033 Rulemaking

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On August 21, the Consumer Financial Protection Bureau published an advance notice of proposed rulemaking (ANPR) in the Federal Register to reconsider its Personal Financial Data Rights Rule under Section 1033 of the...more

Troutman Pepper Locke

Analyzing the Proposed Amendments to the Colorado Privacy Act Rules

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The Colorado attorney general’s (AG’s) office is considering amendments to its Colorado Privacy Act (CPA) rules to provide further guidance to controllers subject to the law’s children’s privacy protections....more

Ballard Spahr LLP

Reversing course, CFPB says it will issue revised open banking rule

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In a surprise announcement, the CFPB has said it will issue a revised Section 1033 open banking rule rather than simply killing the Biden Administration rule....more

Morrison & Foerster LLP

A Hard Reset on 1033?: A Look at What’s Next for Open Banking

Morrison & Foerster LLP on

The financial services industry generally, and data aggregators specifically, have watched intently as the Trump administration has altered the course of the Consumer Financial Protection Bureau (CFPB or “Bureau”), in an...more

Orrick, Herrington & Sutcliffe LLP

CFPB indicates its Section 1033 rule should be set aside in filing

Orrick, Herrington & Sutcliffe LLP on

On May 23, the U.S. District Court for the Eastern District of Kentucky received a status report from the defendants, the CFPB and Russell Vought, stating that the Bureau has determined the Section 1033 rule to be unlawful...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws its proposed rule on data brokers

Orrick, Herrington & Sutcliffe LLP on

On May 15, the CFPB published a Federal Register notice withdrawing its proposed rule on Protecting Americans from Harmful Data Broker Practices (Regulation V). The Bureau decided that this rulemaking was not necessary at...more

Perkins Coie

CPPA Signals Significant Revisions Ahead

Perkins Coie on

Key Takeaways - - The California Privacy Protection Agency (CPPA) is substantially revising its draft privacy regulations. - Definitions for automated decision-making technology (ADMT) and "significant decisions" are...more

Ballard Spahr LLP

Financial Services trade groups call on CFPB to abandon its data broker proposed rule

Ballard Spahr LLP on

Seventeen financial services trade groups are calling on the CFPB to abandon its plan to amend rules under the Fair Credit Reporting Act (FCRA) to vastly expand the scope of the FCRA by redefining what a “consumer report” is...more

K&L Gates LLP

What the Future May Hold for the Consumer Financial Protection Bureau's Open Banking Rule

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Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress and incoming presidential administration? Two upcoming proceedings may hold the answer....more

Orrick, Herrington & Sutcliffe LLP

SEC proposes revisions to Privacy Act

Orrick, Herrington & Sutcliffe LLP on

On February 14, the SEC issued a proposed rule to revise the Commission’s regulations under the Privacy Act of 1974, as amended. The Privacy Act governs the collection, maintenance, use, and dissemination of information about...more

Adams & Reese

Payment Service Providers’ Valuable Data is Getting More Regulatory Attention

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The ways consumers make payments, including the data and technology associated with those payments, is becoming an increased focus of regulators. Financial institutions should carefully and thoroughly consider the recent...more

Pierce Atwood LLP

State Legislature Hears Concerns About Proposed Massachusetts Consumer Data Privacy Bill

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On October 7, 2019, the Joint Committee on Consumer Protection and Professional Licensure held a hearing on pending legislation, including An Act Relative to Consumer Data Privacy (S.120). Modeled on the California Consumer...more

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