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Data Protection Compliance Consumer Financial Protection Bureau (CFPB)

Wiley Rein LLP

March Privacy Forecast: New Data Broker Laws and Regulations

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This week in our March Privacy Forecast, we discuss a growing trend at both the federal and the state level – new laws and regulations that specifically target data brokers. At the federal level, two new legal frameworks...more

K&L Gates LLP

Complying With the New "Open Banking" Regime: Primer and Fact Sheet

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The Consumer Financial Protection Bureau (CFPB) finalized its “open banking” rule in late 2024. As required by Section 1033 of the Consumer Financial Protection Act, the CFPB promulgated the rule to require certain financial...more

Alston & Bird

CFPB Approves Financial Data Exchange to Set Standards for 1033

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What Happened? Last week the CFPB issued an Order recognizing the Financial Data Exchange, Inc. (“FDX”) as the first standard setting body (“SSO”) under the CFPB’s Personal Financial Data Rights Rule (the “Rule”).  The Rule...more

Eversheds Sutherland (US) LLP

CFPB previews consumer data portability rule meant to accelerate US open banking adoption

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued an advance notice of proposed rulemaking (ANPR) with respect to a new consumer financial data portability rule mandated by Section 1033 of the...more

Hanzo

An Overview of Compliance Regulations for the Mortgage Industry

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When it comes to making sure financial data is safe and meets compliance regulations, understanding the different regulatory bodies that affect the mortgage industry is a vital first step. Here are just a few to consider....more

McGlinchey Stafford

Reflections on 2021 compliance predictions

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Reflecting on the 2021 predictions I made in January, I can’t help but note that, yet again, we’ve had a year of surprises. Rather than putting COVID-19 in our rearview, in many ways, the pandemic worsened this year. Below is...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

Perkins Coie

Barak Cohen Quoted in VIXIO PaymentsCompliance - CFPB Opens Gate to Regulated Open Banking in US

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Barak Cohen was quoted in VIXIO PaymentsCompliance "CFPB Opens Gate To Regulated Open Banking In U.S." regarding the new rule on third-party access to consumer financial data the Consumer Financial Protection Bureau (CFPB)...more

Holland & Knight LLP

Key Takeaways from the Consumer Protection Forum

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Holland & Knight and the Word of Mouth Marketing Association (WOMMA) hosted a half-day forum that featured government officials discussing hot-button issues in consumer protection regulation and enforcement. Speakers at the...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

Pillsbury - Global Sourcing Practice

Under the Thumb: Regulatory Compliance When Outsourcing Cybersecurity Management

Managed security services are often a natural “add-on” when outsourcing IT services given that data protection is integral to application development, software as a service, and cloud storage, among other services. More...more

Morrison & Foerster LLP

Brave New World for Data Furnishers

On September 4, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a Bulletin warning data furnishers that they face potential disciplinary action if they do not properly review information submitted to the credit...more

Ballard Spahr LLP

Director Cordray’s appearance at Senate Banking Committee hearing yields arbitration news

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The only new item of information revealed by Director Cordray during his appearance yesterday before the Senate Banking Committee hearing (in response to a question from Senator Elizabeth Warren) was that he feels “quite...more

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