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Financial Services Industry Data Privacy

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

Stikeman Elliott LLP

AI Use by Financial Institutions: Québec’s AMF Publishes Draft Guidelines

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On July 3, 2025, Québec’s financial institutions regulator – the Autorité des marchés financiers (“AMF”) – published draft guidelines (“Draft Guidelines”) on the use of artificial intelligence systems (“AI Systems”) by...more

A&O Shearman

UK FCA Releases Report on Using Synthetic Data for Models in Financial Services

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The UK Financial Conduct Authority (FCA) has released the second report on generating and using synthetic data in financial services, offering comprehensive insights into the governance, ethical, and regulatory considerations...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

K2 Integrity

[Webinar] Lonely Wolves: The Case for Deeper Collaboration to Prevent Fraud - September 9th, 9:00 am ET

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Fraud is a systemic issue and always involves more than one financial institution. Yet, there is no jurisdiction-wide technological solution for combating fraud; irrespective of the robustness of their individual counterfraud...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

Guidepost Solutions LLC

High-Risk Enforcement Areas for Financial Services Providers: AI, Lending, and Privacy

Did you know that U.S. federal regulators issued approximately 173 public enforcement actions against financial services providers in 2024? Over 35% of those enforcement actions resulted in some form of monetary penalty,...more

Ballard Spahr LLP

AI in the Financial Services Industry

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The recent American Association of Residential Mortgage Regulators Annual Conference included a presentation highlighting the rising use of Artificial Intelligence (“AI”) in the Financial Services industry. As this will...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

Ankura

Financial Services: Data Management Strategies for AI Readiness

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58 In the complex and highly regulated financial services environment, the cost of poor data management is staggering, estimated to cost businesses billions annually in operational inefficiencies, regulatory fines, and missed...more

Ballard Spahr LLP

Reversing course, CFPB says it will issue revised open banking rule

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In a surprise announcement, the CFPB has said it will issue a revised Section 1033 open banking rule rather than simply killing the Biden Administration rule....more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 24

UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....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

Troutman Pepper Locke

2025 Mid-Year Review: State AGs in a New Era

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The United States is navigating a new era of regulatory oversight and the balance of power between federal and state regulators following the 2024 election cycle. As federal agencies retreat from and/or realign their...more

Baker Donelson

Mid-Year 2025 Financial Services Litigation Update

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Litigation against banks and other financial services firms is always evolving. This mid-year 2025 update discusses trends from recent case filings and decisions and highlights the importance of awareness of new legal...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

Jackson Lewis P.C.

HB1127 Explained: North Dakota’s New InfoSec Requirements for Financial Corporations

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Earlier this year, North Dakota’s Governor signed HB 1127, which introduces new compliance obligations for financial corporations operating in North Dakota. This new law will take effect on August 1, 2025....more

Wilson Sonsini Goodrich & Rosati

Payments Playbook Series: Agentic Payments Playbook

As payments innovation continues to accelerate, Wilson Sonsini is publishing a series of pragmatic playbooks to help companies navigate the legal complexities in the highly regulated payments space. In this new installment,...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 62: The Expanding Role of State AGs in Consumer Financial Protection

Rob McKenna, Orrick partner and former Washington State Attorney General, joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to discuss the expanding role of state attorneys general in consumer financial protection....more

Thomas Fox - Compliance Evangelist

#Risk New York Speaker Series – Bridging the Gap: Effective Risk Communication in Compliance with Rob Clark, Jr.

Join Tom Fox and hundreds of other GRC professionals in the city that never sleeps, New York City, on July 9 & 10 for one of the top conferences around, #Risk New York. The current US landscape, shaped by evolving policies,...more

Thomas Fox - Compliance Evangelist

#Risk New York Speaker Series – Inside Behavioral Insights: Tom Hardin on Compliance at #RiskNYC

Join Tom Fox and hundreds of other GRC professionals in the city that never sleeps, New York City, on July 9 & 10 for one of the top conferences around, #Risk New York. The current US landscape, shaped by evolving policies,...more

Clark Hill PLC

Right To Know - June 2025, Vol. 30

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Cyber, Privacy, and Technology Report - Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed. State Action: North Dakota Passes Law...more

Morrison & Foerster LLP

A Hard Reset on 1033?: A Look at What’s Next for Open Banking

The financial services industry generally, and data aggregators specifically, have watched intently as the Trump administration has altered the course of the Consumer Financial Protection Bureau (CFPB or “Bureau”), in an...more

Mayer Brown

US SEC Gives Green Light to Swiss-Based Investment Adviser Registration Applications

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On June 10, 2025, the US Securities and Exchange Commission (SEC) announced that it will immediately resume processing new and pending registration applications of investment advisers with their principal office and place of...more

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