News & Analysis as of

Data Protection Personal Information Financial Institutions

Wyrick Robbins Yates & Ponton LLP

Not Just for Auto Dealers: What the FTC’s Updated Safeguards Rule Means for All Non-Bank Financial Institutions

Last month, the Federal Trade Commission issued guidance on the updated Safeguards Rule in the form of a set of Frequently Asked Questions for Automobile Dealers. Although directed to auto dealers, the FAQs are a useful...more

American Conference Institute (ACI)

[Webinar] Top 5 Game-Changing Regulatory Shifts Impacting Financial Compliance and Board Accountability - September 24th, 1:00 pm...

Don’t miss this complimentary webinar spotlighting the five most pressing regulatory developments reshaping compliance in Canada’s financial sector. From board-level liability, to shifting enforcement priorities, get up to...more

Ballard Spahr LLP

CFPB suggests that state privacy laws can—and should—regulate financial data

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On November 12, 2024, the Consumer Financial Protection Bureau (CFPB) released a report examining the carve outs and limitations contained in comprehensive state privacy laws relating to financial institutions.  In an...more

Troutman Pepper Locke

California Privacy Protection Agency Announces Proposed Regulations for Data Broker Registration

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On July 5, the California Privacy Protection Agency (CPPA) published a Notice of Proposed Rulemaking regarding Data Broker Registration pursuant to Senate Bill 362 (the Delete Act). The Delete Act requires the CPPA to...more

Stark & Stark

Understanding the Enhanced Regulation S-P Requirements

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On May 16, 2024, the Securities and Exchange Commission adopted amendments to Regulation S-P, the regulation that governs the treatment of nonpublic personal information about consumers by certain financial institutions....more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 5, Issue 2, March 2024

HHS Cybersecurity Performance Goals and the Healthcare Industry - The healthcare industry is a major target for cyberattacks because of all of the personal information collected from patients. Recognizing that the healthcare...more

Epstein Becker & Green

The FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Disclose Certain Security and Data Breaches

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On October 27, 2023, the Federal Trade Commission (“FTC”) approved an amendment to the Safeguards Rule that requires non-banking financial institutions (e.g., mortgage companies, mortgage brokers, and creditors) to notify the...more

Troutman Pepper Locke

More Privacy, Please - September/October 2023

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Editor’s Note: The FTC continues to crack down on privacy and cybersecurity, including issuing a new warning to tax preparation companies and entering into a consent decree with 1Health.io. VPPA and BIPA litigation continues...more

Constangy, Brooks, Smith & Prophete, LLP

FTC Non-Banking Financial Institutions Safeguards Rule

The Federal Trade Commission has approved an amendment to the Safeguards Rule under the Gramm-Leach-Bliley Act that creates a new data privacy regulatory reporting requirement for non-banking financial entities. Covered...more

Jones Day

FTC Requires Non-Bank Financial Institutions to Report Data Security Breaches Under Amended Safeguards Rule

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On Friday, October 27, the Federal Trade Commission ("FTC") announced new amendments to the Safeguards Rule, requiring covered financial institutions to report certain data breaches to the FTC and reflecting its continuing...more

McGlinchey Stafford

FTC’s Final Rule Requires Reporting of Data Breaches by Non-Bank Financial Institutions

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On October 27, 2023, the Federal Trade Commission (FTC) issued a final rule (Final Rule) to amend the Standards for Safeguarding Customer Information (Safeguards Rule). This amendment will require non-bank financial...more

Jackson Lewis P.C.

Data Protection Update: Q3 Noteworthy Dates

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June 9th marked the deadline for financial institutions, including certain non-banking institutions that collect or maintain sensitive customer information (e.g., car dealerships), to implement a comprehensive information...more

Shutts & Bowen LLP

Changes to GLBA Safeguards Rule Affect More Than Traditional Financial Institutes

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The Gramm-Leach-Bliley Act (“GLBA”) was a bi-partisan regulation passed by Congress in 1999 in an attempt to update and modernize the financial industry. One component of the GLBA, its Safeguards Rule, requires financial...more

Hudson Cook, LLP

The FTC's Sweeping Changes to the Safeguards Rule - Time to Reexamine Your Information Security Program

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On October 27th, the Federal Trade Commission (“FTC”) finalized its long-awaited updates to the Safeguards Rule. The Safeguards Rule implements provisions of the Gramm-Leach-Bliley Act requiring the safeguarding of customer...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

FTC Overhauls Safeguards Rule Regarding Customer Information Applicable to Auto-Dealers and Other "Financial Institutions"

On October 27, 2021, the FTC announced that it intends to publish (1) a final rule to amend the Standards for Safeguarding Customer Information (Safeguards Rule); (2) a supplemental notice and request for public comment on...more

Foley Hoag LLP - Security, Privacy and the...

Requiring Robust Security for Financial Institutions, FTC Finalizes Amendments to Safeguards Rules

The Federal Trade Commission has finalized amendments to the Standards for Safeguarding Customer Information (“Safeguards Rule”), specific to defined financial institutions, designed to strengthen security for consumer...more

Sheppard Mullin Richter & Hampton LLP

FTC Finalizes Safeguard Rules for Non-Bank Financial Institutions

On October 27, the FTC announced a final rule amending the Standards for Safeguarding Customer Information, known as “the Safeguards Rule,” under the Gramm-Leach-Bliley Act, which is applicable to a broad range of non-banking...more

WilmerHale

FTC Finalizes Financial Institution Safeguards Rule

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On October 27, 2021, the Federal Trade Commission (FTC) announced a newly updated rule under the Gramm-Leach-Bliley Act (GLBA) intended to require financial institutions to strengthen their data security safeguards to protect...more

Robinson+Cole Data Privacy + Security Insider

Federal Trade Commission Amends Safeguards Rule for Non-Banking Financial Institutions

The Federal Trade Commission (FTC) issued a Final Rule on October 27, 2021, amending the Standards for Safeguarding Customer Information, known as “the Safeguards Rule,” under the Gramm-Leach-Bliley Act, which is applicable...more

Hudson Cook, LLP

California Attorney General Focuses on Targeted Advertising and Disclosures in CCPA Enforcement

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The Office of the Attorney General of California began enforcing the California Consumer Privacy Act ("CCPA") more than a year ago and recently released a set of enforcement case examples it has pursued against businesses....more

Blank Rome LLP

The CCPA Is Here: What Financial Institutions Need to Know about the California Consumer Privacy Act

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As of January 1, 2020, the California Consumer Privacy Act of 2018 (CCPA) is now the law of the land, having gone into effect at the beginning of this year. One of the more complex issues concerning the CCPA pertains to the...more

Blank Rome LLP

CCPA Compliance Strategies for Financial Institutions

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The California Consumer Privacy Act provides some relief to financial institutions, but these carve-outs are not a “get out of jail free” card. Blank Rome’s David Oberly and First National Bank of Long Island’s Tanweer Ansari...more

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