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Data Protection Financial Institutions Personally Identifiable Information

Fisher Phillips

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

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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

Royer Cooper Cohen Braunfeld LLC

Tech Moves Fast, the SEC is Trying to Keep Up

On May 16, the Securities and Exchange Commission (“SEC”) announced the adoption of amendments to Regulation S-P, aimed at modernizing and enhancing the rules governing the treatment of consumers’ nonpublic personal...more

Hinckley Allen

Final Amendments to Regulation S-P under Securities Exchange Act of 1934

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On May 15, 2024, the Securities and Exchange Commission (the “SEC”) issued final amendments (the “Amendments”) to Regulation S-P (originally adopted in 2000), which governs the treatment of a customer’s nonpublic personal...more

Health Care Compliance Association (HCCA)

Privacy Briefs: February 2024

The American Hospital Association (AHA) has warned that information technology (IT) help desks are being targeted in a social engineering scheme that uses the stolen identity of revenue cycle employees or employees in other...more

Katten Muchin Rosenman LLP

New FTC Rule Requires Certain Financial Institutions to Report Loss of Unencrypted Customer Data

On October 27, the Federal Trade Commission (FTC or Commission) published a final rule expanding data breach notification requirements for certain financial institutions (Final Rule). Federal Register, will require entities...more

Buchalter

The CFPB Expands Its UDAAP Authority Further Into Data Security Issues

Buchalter on

Continuing a trend it has been pursuing, the CFPB on Thursday used a non-rulemaking circular (Consumer Financial Protection Circular 2022-04) to state that its UDAAP authority extends its enforcement authority to situations...more

Burr & Forman

FINRA Urges Firms to Heed CISA/FBI “Shields Up” Warning on Russia

Burr & Forman on

The regular “Weekly Update” email from the Financial Industry Regulatory Authority (“FINRA”) had an eye-catching warning February 16, urging broker-dealer member firms to heed the “Shields Up” cyber threat warning from the...more

Wilson Sonsini Goodrich & Rosati

FTC Releases Updated Safeguards Rule for Financial Institutions

On October 27, 2021, the Federal Trade Commission (FTC) released a final rule that updates the Safeguards Rule of the Gramm-Leach-Bliley Act (Final Rule). This Final Rule comes after the FTC sought comment on proposed changes...more

Bennett Jones LLP

OSFI Cybersecurity Guidance and Notification Requirements

Bennett Jones LLP on

OSFI, the Canadian Federal Office of the Superintendent of Financial Institutions, on August 13, 2021, issued new guidance on Technology and Cyber Security Incident Reporting, replacing prior guidance of March 2019....more

Oberheiden P.C.

Are You a Financial Institution? GLBA Law & Compliance

Oberheiden P.C. on

The Gramm-Leach-Bliley Act (GLBA) is a federal law that establishes various legal requirements for companies that qualify as “financial institutions” under the Act. The GLBA’s definition of a “financial institution” is...more

Hogan Lovells

Spanish DPA shakes the privacy status quo in Spain – highest fines yet on personal data

Hogan Lovells on

The Spanish Data Protection Agency (“Spanish DPA”) decided to start 2021 the same way it ended 2020: by imposing the highest fines to date (EUR 5,000,000 and 6,000,000) to two large Spanish financial entities. ...more

Baker Donelson

Data Privacy Day: Top Considerations for 2021

Baker Donelson on

Happy Data Privacy Day! Since 2007, privacy professionals from across the globe have gathered together on January 28 to raise awareness about data privacy and security best practices and issues. ...more

Poyner Spruill LLP

New York Fires First Salvo Under Cybersecurity Law

Poyner Spruill LLP on

The New York Department of Financial Services (NYDFS) has launched its first enforcement action under New York’s Cybersecurity law for financial services, so-called Part 500. Part 500 requires NYDFS licensed institutions to...more

Akin Gump Strauss Hauer & Feld LLP

First Enforcement Action by New York Department of Financial Services Under Cybersecurity Regulation

On July 21, 2020, the New York Department of Financial Services (DFS) filed a “Statement of Charges and Notice of Hearing” (the “Charges”) against First American Title Insurance Company (the “Company”) alleging violations of...more

Ballard Spahr LLP

Cyber-Enabled Financial Crime and Money Laundering

Ballard Spahr LLP on

Today we are very pleased to welcome guest blogger Moyara Ruehsen, PhD, CAMS, CFCS, who is an Associate Professor and Director of the Financial Crime Management Program at the Middlebury Institute of International Studies in...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #245 – Another Breach Notification Letter

This week, I received a breach notification letter from a large financial institution stating that my personal information, including my name, Social Security number, account name and number, contact information, date of...more

King & Spalding

Energy Newsletter - April 2020

King & Spalding on

Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Dept of Financial Services (NYDFS) Extends Cybersecurity Compliance Deadline

The NYDFS has announced that it has extended the deadline for compliance with certain cybersecurity requirements due to the coronavirus emergency. The announcement from the Superintendent of Financial Services of the State...more

Robinson+Cole Data Privacy + Security Insider

New York DFS Issues Risk Alert Concerning Possible Iran Cyber-Attacks

In view of Iran’s vows to retaliate against the United States for the death of Quassem Soleimani, the NYDFS has issued an industry letter  to all regulated entities regarding the need for heightened cybersecurity precautions....more

K&L Gates LLP

FinTech Forward: How to Prepare for the California Consumer Privacy Act (CCPA) - Part 2

K&L Gates LLP on

In this miniseries, John ReVeal will discuss key issues and top of mind concerns for businesses under the California Consumer Privacy Act, which will go into effect January 1, 2020. In the second episode, John ReVeal...more

Robinson+Cole Data Privacy + Security Insider

From California to Nevada: Another State Privacy Law That You Need to Know

While we’ve all discussed the California Consumer Privacy Act (CCPA) at length, Nevada was busy amending its internet privacy law and in the process beat California’s deadline for the effective date by three months. Nevada’s...more

Davis Wright Tremaine LLP

The California Consumer Privacy Act: What Financial Services Providers Need to Know

California enacted the nation’s most extensive consumer privacy law after only a week of legislative debate. The California Consumer Privacy Act of 2018 (“CCPA”) creates detailed notice, opt-out/opt-in, access, and erasure...more

Faegre Drinker Biddle & Reath LLP

Further Expansion of Data Security Requirements in FTC Order with LightYear Dealer Technologies

The FTC has entered into a settlement with LightYear Dealer Technologies, doing business as DealerBuilt, a technology company that develops and sells dealer management system (DMS) software and data processing services to...more

Davis Wright Tremaine LLP

Exempt or Not Exempt? California Consumer Privacy Act and the Gramm-Leach-Bliley Act

For the last 18 years, most financial services businesses could sum up their privacy practices with just four letters: G-L-B-A, also known as Title V of the Gramm-Leach-Bliley Act, Public Law 106-102, and its implementing...more

Robinson+Cole Data Privacy + Security Insider

Financial Industry Getting Hammered with Cyber-Attacks

Cybersecurity company Carbon Black recently issued a report of the results of a survey of chief information security officers (CISOs) of financial organizations, which showed that the financial industry is getting hammered by...more

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