Driving Digital Security: The FTC's Safeguards Rule Explained — Moving the Metal: The Auto Finance Podcast
Navigating Emerging Privacy Issues in Financial Services — The Consumer Finance Podcast
Turning up the Heat – A Look at the FTC’s Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLC - The Crypto Exchange Podcast
CFPB's Section 1071 Final Rule (Part 3): Potential Problem Areas – The Consumer Finance Podcast
Video: Introduction: A Deep Dive into Privacy
What Non-Financial Institutions Need to Know About Gramm-Leach-Bliley
Banks of all sizes must confront the rapid integration of artificial intelligence within their institutions (and everywhere, for that matter). AI tools are already widely used, often without proper oversight, as employees and...more
On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) released its long-awaited final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA) concerning personal financial data rights....more
The Federal Trade Commission (FTC) announced it has reached a settlement with the bankrupt crypto company Voyager over the company’s alleged deceptive crypto marketing practices. Specifically, the FTC’s complaint alleges that...more
Financial services companies, such as banks, credit unions, lenders, finance companies, loan servicers, broker-dealers, and securities firms, often receive subpoenas from parties in litigation involving their customers,...more
A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more
California’s new privacy statute imposes a number of new requirements on businesses that touch the personal information of California consumers. Its reach includes banks and financial services companies....more
The American Bankers Association has submitted a comment letter in response to the CFPB’s request for information regarding consumer access to financial information. The ABA observes that while larger institutions have...more
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
In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more
On September 8, 2016, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a 107-page joint...more
Financial Industry Developments - OCC Discusses Marketplace Lending - On September 13, 2016, Comptroller of the Currency Thomas J. Curry discussed marketplace lending's risks and associated policy questions. He...more
New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more
The National Credit Union Administration, or NCUA, became the first of six Agencies to unveil a revised rule proposal under Section 956 of the Dodd-Frank Act: prohibiting incentive-based payment arrangements that the...more
The CFPB complaint database was created with altruistic intentions. They envisioned a tool that consumers could use to search a downloadable database for research on a product or specific lender, just as they would research...more
The Federal Trade Commission (FTC) can regulate cybersecurity policies and procedures as “unfair” acts or practices under Section 5 of the FTC Act, the U.S. Court of Appeals for the Third Circuit has ruled in a very important...more
Managed security services are often a natural “add-on” when outsourcing IT services given that data protection is integral to application development, software as a service, and cloud storage, among other services. More...more
With increased oversight, regulatory scrutiny and risk related to cybersecurity, now is the time for those in the banking industry to be proactive in managing cybersecurity risk. Waiting until a breach occurs to formulate or...more
For more than two decades, each and every Congress has considered and adopted wide-ranging financial services legislation that has significantly altered the legal and regulatory landscape governing financial institutions in...more
On September 16, the Consumer Financial Protection Bureau (CFPB) issued and requested comment on a proposed rule that would, for the first time, subject nonbank auto finance companies to federal regulation and oversight. The...more
The Consumer Financial Protection Bureau ("CFPB") recently amended Regulation P, which requires – in connection with the Gramm-Leach-Bliley Act – that financial institutions provide an annual disclosure of their privacy...more
In This Issue: - October: National Cyber Security Awareness Month - New California Data Protection Law - Obama Signs Cybersecurity Executive Order - FTC Cautions Executives About Personal Liability for False...more
On October 20, 2014, the Consumer Financial Protection Bureau (“CFPB”) announced that it had finalized a rule that alters the way that financial institutions provide privacy policies to their customers. Under the...more
Some banks and other organizations covered under the Gramm-Leach-Bliley Act (GLBA) may now post their privacy policies online rather than having to mail them annually. Earlier this week, the Consumer Financial Protection...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 Consumer Financial Protection Bureau (CFPB) has proposed a rule that would promote more effective privacy disclosures from financial institutions to its respective customers. Currently, the Gramm-Leach-Bliley Act (GLBA)...more