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Financial Services Industry Consumer Privacy Rights

DLA Piper

A Revamped CFPB Rulemaking on Personal Financial Data Rights

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The Consumer Financial Protection Bureau (CFPB) published an Advance Notice of Public Rulemaking on August 22, 2025, reopening the rulemaking process for Section 1033 of the Dodd-Frank Act, which deals with how consumers can...more

Kelley Drye & Warren LLP

Ad Law News and Views - August 2025

Last week, Missouri Attorney General Andrew Bailey announced his resignation from the position effective September 8. He issued a press release reporting that he is leaving to serve as the Co-Deputy Director of the FBI, in...more

Katten Muchin Rosenman LLP

The CFPB is Reconsidering Personal Financial Data Rights Rule Under the Dodd-Frank Act

On August 22, 2025, the Consumer Financial Protection Bureau (CFPB) issued an advance notice of proposed rulemaking seeking public comment on potential revisions to its Personal Financial Data Rights Rule (the Rule) under...more

Wiley Rein LLP

[Podcast] Open Banking, Financial Data Rights, and What it Means for Crypto

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In the latest episode of CryptoCounsel, Frank is joined by his Wiley colleague Duane Pozza for a deep dive into open banking with guest Steve Boms, Founder and President of Allon Advocacy and Executive Director of the...more

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

Ballard Spahr LLP

Senate Passes House Version of Trigger Leads Bill

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As previously reported, both the House and Senate passed bills to ban “trigger leads,” except in limited circumstances, although the versions of the bills that were previously passed are slightly different. The one difference...more

Orrick, Herrington & Sutcliffe LLP

CFPB signals it will revisit its open banking rule following court stay

On July 29, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay proceedings in a case challenging the Bureau’s Section 1033 rule after the Bureau signaled its plans to “engage in an...more

Troutman Pepper Locke

Oregon Passes New Telephone Solicitation Law

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On July 24, Oregon Governor Tina Kotek signed House Bill 3865 (HB 3865) into law, introducing significant changes to the regulation of telephone solicitations within the state. This new legislation narrows the permissible...more

Troutman Pepper Locke

CFPB Section 1033 Open Banking Rule Stayed as CFPB Initiates New Rulemaking

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In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the...more

Holland & Knight LLP

Nuevo proyecto de decreto para el sistema de finanzas abiertas en Colombia

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La Unidad de Regulación Financiera (URF) publicó para comentarios al público una nueva versión del proyecto de decreto por medio del cual se pretende regular el sistema de finanzas abiertas en Colombia....more

Orrick, Herrington & Sutcliffe LLP

Where is the GLBA Entity-Level Exemption? Two More State Privacy Laws Now Apply to Financial Institutions

In May, Montana enacted Senate Bill 297, which amends the Montana Consumer Data Privacy Act (MCDPA) to eliminate the broad exemption for financial institutions subject to the Gramm-Leach-Bliley Act (GLBA). Connecticut...more

Orrick, Herrington & Sutcliffe LLP

Senate passes bill to amend the FCRA

On June 12, the U.S. Senate passed S. 1467, the Homebuyers Privacy Protection Act, which would amend Section 604(c) of the FCRA by adding new limitations on prescreening reports....more

Troutman Pepper Locke

Illinois Passes Bill Prohibiting Collection of Coerced Debt

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On May 22, Illinois House Bill 3352 passed the Illinois legislature and now awaits Governor JB Pritzker’s signature. This bill amends the Illinois Collection Agency Act to provide an individual a way to avoid liability for a...more

Ballard Spahr LLP

FTC takes action against student loan debt relief companies

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The FTC has recently taken action against two student loan debt relief companies and their owners....more

Kelley Drye & Warren LLP

House Subcommittee Considers Modernizing Financial Services Under a National Privacy Framework

On Thursday, the U.S. House Committee on Financial Services Subcommittee on Financial Institutions held a hearing entitled, ​“Framework for the Future: Reviewing Data Privacy in Today’s Financial System.” Hearing testimony...more

Orrick, Herrington & Sutcliffe LLP

Payments industry associations argue against remittance transfer tax proposal

On May 28, the Senate Committee on Finance received a joint letter from several payments industry associations urging lawmakers to reject a proposed 3.5 percent tax on remittance transfers, which includes any transfer...more

Ballard Spahr LLP

DeSantis signs bill allowing debt collection emails between 9 p.m. and 8 a.m.

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Florida Gov. Ron DeSantis recently signed legislation making it clear that debt collection emails sent between 9 p.m. and 8 a.m. do not violate Florida law....more

Troutman Pepper Locke

State AGs Unite: New Privacy Task Force Signals Shift in Regulatory Power Dynamics — Regulatory Oversight Podcast

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In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight, Chris Willis, Kim Phan, and Stephen Piepgrass provide insights on a new joint privacy task force among several state AGs, known as the...more

Troutman Pepper Locke

CFPB Withdraws Proposed FCRA Data Broker Rule

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Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed its decision to withdraw the proposed rule titled “Protecting Americans from Harmful Data Broker Practices (Regulation V)” in the Federal Register....more

Troutman Pepper Locke

State AGs Unite: New Privacy Task Force Signals Shift in Regulatory Power Dynamics — The Consumer Finance Podcast

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In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight, Chris Willis, Kim Phan, and Stephen Piepgrass provide insights on a new joint privacy task force among several state AGs, known as the...more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 6, Issue 4, April 2025

Welcome to our fourth issue of 2025 of Decoded - our technology law insights e-newsletter. We hope you enjoy this issue and thank you for reading. Sector by Sector: How Data Breaches are Wrecking Bottom Lines - “Data...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 23, 2025)

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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), Federal Trade Commission (FTC), and at the state level. CFPB activity continues to be...more

Ballard Spahr LLP

Senate adopts CRA resolution to nullify rule subjecting large cash apps to bureau supervision

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Using the Congressional Review Act, the Senate has voted to nullify a CFPB final rule that would subject large cash apps to the bureau’s supervision....more

BCLP

State Laws Present Litigation Risks for Financial Industry’s Artificial Intelligence Use

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The financial industry increasingly uses artificial intelligence (“AI”) to raise business efficiencies, improve customer experience, and limit fraud and crime. However, two lawsuits leveraging existing state privacy laws and...more

Orrick, Herrington & Sutcliffe LLP

Rep. Waters requests information on consumer protection compliance from financial organizations

On February 26, Rep. Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, sent a letter addressed to the presidents and chief executive officers of two financial industry trade organizations. The...more

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