Financial Institutions, GLBA Privacy, Data Protection

Montana Amends Consumer Data Privacy Act, Removes Financial Institution Exemption

McGlinchey Stafford on 5/22/2025

On May 8, 2025, the governor of Montana signed into law SB 297, which amends the Montana Consumer Data Privacy Act (MCDPA). The amendments become effective on October 1, 2025. Among other things, SB 297: • amends the...more

RegFi Episode 31: The Road Ahead for Financial Services Data Privacy Regulation

Orrick, Herrington & Sutcliffe LLP on 5/9/2024

Orrick Partner Beth McGinn joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt for our second episode focused on the proposed American Privacy Rights Act and its potential impact on the financial services industry. Beth...more

CFPB Scrutinizes Inadequate Data Protection Measures

Nelson Mullins Riley & Scarborough LLP on 9/14/2022

The Consumer Financial Protection Bureau (“CFPB”) recently issued Consumer Financial Protection Circular 2022-04, confirming its increased focus on financial companies that violate federal consumer financial protection law...more

GLBA Safeguards Rule Updated to Impose New Data Security Requirements

Perkins Coie on 11/10/2021

Following a 3-2 vote, the Federal Trade Commission (FTC) recently announced amendments to the Safeguards Rule under the Gramm-Leach-Bliley Act. The Safeguards Rule was first promulgated in 2002. The revisions are meant to...more

FTC Finalizes Updated Safeguards Rule Under GLBA to Dramatically Expand Data Security Requirements and Scope of Rule

Bradley Arant Boult Cummings LLP on 11/2/2021

Until now, companies primarily regulated by the Federal Trade Commission (FTC) were given only vague directives to implement systems sufficient to safeguard customer data, coupled with FTC “recommendations” as to best...more

Are You a Financial Institution? GLBA Law & Compliance

Oberheiden P.C. on 6/15/2021

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

CFPB Issues Advanced Notice of Proposed Rulemaking on Section 1033 for Consumer-Authorized Access to Financial Data

Bradley Arant Boult Cummings LLP on 11/9/2020

On October 22, 2020, the CFPB issued an advance notice of proposed rulemaking (ANPR) soliciting comments on implementation of Section 1033 of the Dodd-Frank Act. As outlined in the ANPR, Section 1033 will require consumer...more

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