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Financial Services Industry Data Privacy 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

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

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

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

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

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

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

Ballard Spahr LLP

CFPB extends comment period for data broker NPRM

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The CFPB has extended the comment period for its Notice of Proposed Rulemaking on data brokers until April 2, 2025; the comment period had been slated to expire on March 3, 2025....more

K&L Gates LLP

Australia's Proposed Scams Prevention Framework

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In response to growing concerns regarding the financial and emotional burden of scams on the community, the Australian government has developed the Scams Prevention Framework Bill 2024 (the Bill). Initially, the Scams...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s union raises concerns over security and alleged misuse of sensitive information

On February 7, the union representing CFPB employees published a notice expressing concerns regarding the recent addition of certain DOGE employees to the CFPB’s email directory and their presence in offices. ...more

Ballard Spahr LLP

Financial Services trade groups call on CFPB to abandon its data broker proposed rule

Ballard Spahr LLP on

Seventeen financial services trade groups are calling on the CFPB to abandon its plan to amend rules under the Fair Credit Reporting Act (FCRA) to vastly expand the scope of the FCRA by redefining what a “consumer report” is...more

K&L Gates LLP

Financial Abuse and the Need for Better Financial Services Regulation

K&L Gates LLP on

In December 2024 the Parliamentary Joint Committee on Corporations and Financial Services (the Committee) published a Report following an inquiry into how well the existing financial services regulatory framework is...more

Tonkon Torp LLP

What the SEC Amendments to Regulation S-P Mean for Your Business

Tonkon Torp LLP on

On May 16, 2024, the SEC adopted amendments to Regulation S-P requiring broker-dealers, registered investment companies, registered investment advisers, funding portals, and transfer agents (collectively, “covered...more

Troutman Pepper Locke

CFPB Updates List of Consumer Reporting Companies for 2025

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On January 30, the Consumer Financial Protection Bureau (CFPB or Bureau) released its updated list of consumer reporting companies for 2025. The list includes nationwide consumer reporting companies as well as several other...more

Orrick, Herrington & Sutcliffe LLP

CFPB requests information on data protection

On January 15, the CFPB published to the Federal Register a Request for Information (RFI) on the collection, use, sharing and protection of consumer payment and personal financial data by companies offering financial products...more

Orrick, Herrington & Sutcliffe LLP

New York Governor Hochul proposes new financial protections

On January 14, Governor Kathy Hochul announced new proposals to protect New York consumers as part of her 2025 State of the State. Her proposals included legislation to: (i) combat algorithmic price discrimination by...more

Katten Muchin Rosenman LLP

Privacy, Data and Cybersecurity Quick Clicks | Issue 25

Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more

Katten Muchin Rosenman LLP

CFPB Issues Order for Financial Data Exchange to Issue Standards under CFPB's Personal Financial Data Rights Rule

On January 8, 2025, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard-setting body under the CFPB’s Personal Financial Data Rights rule. The order of...more

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