Business Better Podcast Episode: Bridging Campuses: Legal Insights on Education Industry Consolidation – Privacy and Data Security
CFPB's Inquiry Into Payments Privacy — Payments Pros – The Payments Law Podcast
All signs had pointed to the Consumer Financial Protection Bureau (CFPB or “Bureau”) rolling back the open banking final rule implementing Section 1033 of the Dodd-Frank Act (12 U.S.C. § 5533) (“PFDR Rule”) promulgated by the...more
In the latest episode of Payments Pros, host Carlin McCrory welcomes Kim Phan to discuss the Consumer Financial Protection Bureau's (CFPB) recent inquiries into enhancing privacy protections. On January 10, the CFPB sought...more
In the closing months of the Consumer Financial Protection Bureau (CFPB) under Director Rohit Chopra, the CFPB has continued its efforts to influence how states regulate financial services providers. On November 12, the CFPB...more
On November 12, the Consumer Financial Protection Bureau (CFPB) released a new report titled, “State Consumer Privacy Laws and the Monetization of Consumer Financial Data.” The report provides an overview of the state...more
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
When an entity shares data outside of its organization, the following questions often arise: Does the FCRA or GLBA (or both) apply to the specific type of data sharing? And how do these laws impact my company’s financial...more
Recently, the CFPB released an outline of proposed measures related to the Bureau’s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers to take control of their personal financial data and determine which...more
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
Now that the pandemic’s “social distancing” is lessening, we hope you are all able to gather with friends and family this Thanksgiving. As we do the same, we wanted to count our blessings as we review the year. This year, we...more
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
Vendor management is a complex task, yet a necessary undertaking for any organization dealing with third parties. ...more
The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau....more
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
On August 17, 2018, the Bureau of Consumer Financial Protection (CFPB) published a final rule amending its Regulation P to include an exception to the Gramm-Leach-Bliley Act (GLBA) annual privacy notice obligation. Nearly...more
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
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
Late last month a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for their claims against Guaranteed Rate (Guaranteed), which alleged Guaranteed along with other former employees of MOMC illegally...more
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
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
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide customers with initial and annual notices of their privacy policies, including whether they share consumers’ non-public information with third...more
The CFPB has published a proposed rule that would amend Regulation P to allow financial institutions that satisfy certain conditions to deliver annual privacy notices to their customers using an alternative online delivery...more
The CFPB has proposed rules to afford financial institutions an alternative delivery method for annual privacy notices under the privacy provisions of GLBA and Regulation P (12 CFR part 1016). This alternative delivery method...more