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Financial Institutions GLBA Privacy Gramm-Leach-Blilely Act

Fox Rothschild LLP

FTC Issues GLBA Safeguard Rule FAQs: What Motor Vehicle Dealers Need to Know

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The FTC has issued FAQs for Gramm-Leach-Bliley Act (GLBA) Safeguards Rule compliance by Motor Vehicle Dealers. Here is what you need to know: Step 1: Are you a financial institution? • You are if you either finance (or...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 31, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Nelson Mullins Riley & Scarborough LLP

CFPB Scrutinizes Inadequate Data Protection Measures

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

Orrick, Herrington & Sutcliffe LLP

What Fintech Companies Need to Know About GLBA and FCRA Exemptions Under State Data Protection Laws

The financial technology (“Fintech”) industry has boomed over the last decade, from the rise of mobile payment apps, robo-advisers, lending platforms, consumer-friendly brokerages to cryptocurrency trading platforms. By their...more

WilmerHale

Bill Proposed in Congress to Expand Privacy Obligations of Financial Institutions

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On June 23, 2022, Congressman Patrick McHenry (NC-10), released a discussion draft  (“Discussion Draft”) of new legislation set to amend the Gramm-Leach-Bliley Act (GLBA) with the intent to “modernize GLBA to better align...more

Oberheiden P.C.

5 Keys to Performing A GLBA Audit

Oberheiden P.C. on

Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more

Oberheiden P.C.

Are You a Financial Institution? GLBA Law & Compliance

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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

Baker Donelson

CFPB's New Final Rule Could Have Big Impact on Privacy Requirements

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The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

Baker Donelson

Financial Institutions: CFPB Finalizes Changes to Annual Privacy Notice Requirements

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The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

Ballard Spahr LLP

Treasury report promotes data aggregators in the consumer financial services ecosystem

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The U.S. Department of the Treasury’s recent report evaluating economic opportunities presented by nonbank financial institution and fintech company innovations includes a detailed account of current data aggregation...more

Ballard Spahr LLP

CFPB finalizes changes to GLBA annual privacy notice requirement

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The CFPB has issued a final rule amending the provisions of Regulation P that implement the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement.  The final rule is intended to reflect the GLBA amendments made by...more

Sheppard Mullin Richter & Hampton LLP

New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape

In late December, New York State’s Department of Financial Services (“DFS”) released its revised proposed cybersecurity regulation (the “DFS Rule”). While the revisions pare back some of the DFS Rule’s original requirements...more

McGuireWoods LLP

CFPB Issues Proposed Revisions to GLBA Annual Privacy Notice Requirement

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Earlier this month, the Consumer Financial Services Bureau issued its proposed rule amending the Gramm-Leach-Bliley Act’s annual privacy notice requirement set forth in Regulation P....more

Troutman Pepper Locke

Top 10 Financial Institution Considerations for 2016: #4 – Data Security and Privacy

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In our initial article announcing our top 10 considerations for financial institutions in 2016, our fourth consideration was data security and privacy. While the recent focus has been on cybersecurity, it is important to...more

Troutman Pepper Locke

GLBA Annual Privacy Notice Eliminated under Certain Circumstances: Buried in a Highway Bill!

Troutman Pepper Locke on

On December 4, 2015, President Obama signed the Highway Bill, dubbed Fixing America’s Surface Transportation Act (“FAST Act”), into law. Buried in the 490 page transportation law is a significant amendment to the...more

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