News & Analysis as of

Data Protection Consumer Privacy Rights Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

CFPB’s union raises concerns over security and alleged misuse of sensitive information

On February 7, the union representing CFPB employees published a notice expressing concerns regarding the recent addition of certain DOGE employees to the CFPB’s email directory and their presence in offices. ...more

McGuireWoods LLP

CFPB Explores the Need for Greater Financial Privacy

McGuireWoods LLP on

On January 10, 2025, in the waning days of the Biden Administration, the Consumer Financial Protection Bureau issued a Request for Information Regarding the Collection, Use, and Monetization of Consumer Payment and Other...more

Orrick, Herrington & Sutcliffe LLP

CFPB requests information on data protection

On January 15, the CFPB published to the Federal Register a Request for Information (RFI) on the collection, use, sharing and protection of consumer payment and personal financial data by companies offering financial products...more

Mayer Brown

FCRA in Focus

Mayer Brown on

Join us for a new episode of Financial Services Focus with partner Eric Mitzenmacher and associate Kerri Webb, as they discuss the CFPB's recently proposed FCRA rulemaking, which, if finalized as proposed, would affect the...more

Wiley Rein LLP

What Just Happened at the FTC and CFPB: Wiley Consumer Protection Download (January 24, 2025)

Wiley Rein LLP on

In the two weeks before Inauguration, both the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) released a flurry of rulemaking developments, policy announcements, and enforcement filings and...more

Katten Muchin Rosenman LLP

Privacy, Data and Cybersecurity Quick Clicks | Issue 25

Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more

Katten Muchin Rosenman LLP

CFPB Issues Order for Financial Data Exchange to Issue Standards under CFPB's Personal Financial Data Rights Rule

On January 8, 2025, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard-setting body under the CFPB’s Personal Financial Data Rights rule. The order of...more

Venable LLP

CFPB Seeks Public Input on Privacy and Data Practices in Consumer Finance

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to gather insights on how companies offering financial products and services collect, use, and monetize consumer payment and personal...more

K&L Gates LLP

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

K&L Gates LLP on

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

Alston & Bird on

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

Baker Donelson

CFPB Proposes Rule to Regulate Data Brokers Selling Sensitive Information

Baker Donelson on

In today's digital landscape, data brokers are like modern-day gold miners, sifting through the intimate details of our lives – our addresses, financial records, Social Security numbers – and quietly turning that information...more

Troutman Pepper Locke

CFPB Publishes Report on State Privacy Law Exceptions for Financial Information

Troutman Pepper Locke on

On November 12, the Consumer Financial Protection Bureau (CFPB) released a new report titled, “State Consumer Privacy Laws and the Monetization of Consumer Financial Data.” The report provides an overview of the state...more

Hinshaw & Culbertson LLP

Marking Data Privacy Week With Four 2024 Predictions

Data Privacy Week is always ongoing! Here are some of Hinshaw's top data privacy law predictions for 2024. 1. New State Data Laws Will Continue to be Adopted in 2024, Varying in Scope and Enforcement Mechanisms - There will...more

Clark Hill PLC

Right To Know - January 2024, Vol. 13

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....more

Wilson Sonsini Goodrich & Rosati

U.S. Privacy Predictions: What to Watch for in 2024

2023 was one of the busiest years for privacy yet—with more to come in 2024. Five new U.S. state privacy laws (in Texas, Florida, Oregon, Montana, and Washington) will come into effect in 2024. And federal and state...more

Arnall Golden Gregory LLP

CFPB Proposes a Rule on Personal Financial Data Rights

The fourth quarter of 2023 has seen significant proposed rulemaking from regulators. Just over a week after the Federal Trade Commission issued its Notice of Proposed Rulemaking on its “junk fees” rule, the Consumer Financial...more

Cadwalader, Wickersham & Taft LLP

The CFPB's Personal Data Financial Rights Proposed Rule, Part 1

On Thursday, October 19, 2023, the Consumer Financial Protection Bureau (“CFPB”) released a proposed rule addressing “personal data financial rights”, as we reported last week that they would be doing later in October. The...more

Clark Hill PLC

Right To Know - October 2023, Vol. 10

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....more

Robinson+Cole Data Privacy + Security Insider

White House to Host Meeting on Data Brokering Industry as CFPB Promises New Regulations

The White House hosted a roundtable meeting Tuesday on the data brokering industry as a part of an administration-wide push toward strengthening America’s consumer privacy landscape. The meeting brought together researchers,...more

Cozen O'Connor

The State AG Report – 6.1.2023

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •A Tip for Businesses: Don’t Steal Employees’ Gratuities,...more

Alston & Bird

CFPB and FTC Looking to Ramp Up Data Security Requirements

Alston & Bird on

Enhancing data security programs to protect personal information is a critical area companies cannot ignore. Our Privacy, Cyber & Data Strategy and Financial Services & Products groups unpack the latest moves by the Consumer...more

Lathrop GPM

Fintechs Beware: CFPB Builds on FTC Safeguards for Consumer Data

Lathrop GPM on

On August 11, 2022, the Consumer Finance Protection Board issued Consumer Financial Protection Circular 2022-04 for enforcers of federal consumer financial laws. The new Circular reflects the consumer watchdog’s increasing...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - January 2022

In this month’s Privacy & Cybersecurity Update, we examine the U.S. Chamber of Commerce’s letter to Congress calling for federal cybersecurity legislation, the New York attorney general’s report on “credential stuffing”...more

McGlinchey Stafford

Reflections on 2021 compliance predictions

McGlinchey Stafford on

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

Sheppard Mullin Richter & Hampton LLP

More Regulatory Clarity on the Horizon for FinTech

On September 21, 2021, the FinTech task force of the U.S. House Committee on Financial Services held a hearing on consumer privacy. The hearing was live-streamed and the archived webcast is available on the Committee website....more

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