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Sensitive Personal Information Financial Institutions

Kilpatrick

Connecticut Enacts Amendments to State’s Data Privacy Law

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On June 25, 2025, Governor Ned Lamont signed Connecticut Senate Bill 1295 into law. SB 1295 significantly amends the Connecticut Data Privacy Act (CTDPA) by lowering the threshold for applicability, broadening the definition...more

Ballard Spahr LLP

Connecticut Amends Privacy Law

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On June 11, 2025, Connecticut passed Senate Bill 01295 (SB 01295).  If signed by the governor, SB 01295 will amend the existing Connecticut Data Privacy Act (CTDPA) in several important ways, with the amendments going into...more

Lathrop GPM

New DOJ Limits on Cross-Border Data Transfers Prompt Assessment by Businesses

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On April 8, the National Security Division of the U.S. Department of Justice’s (DOJ) new rule on cross-border data transfers takes effect. It restricts U.S. businesses from transferring certain bulk sensitive personal data to...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2025

Governor Michelle Bowman discussed the unique challenges mutual banking institutions face raising capital and the need for regulatory flexibility in the process. Governor Bowman’s remarks at the New England CEO Summit on...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New York State Department of Financial Services Releases Guidance on Combating Cybersecurity Risks Associated With AI

On October 16, 2024, the New York State Department of Financial Services (NYDFS) released guidance highlighting the cybersecurity risks associated with artificial intelligence (AI) and how covered entities regulated by NYDFS...more

BCLP

Key Concepts In Privacy Law for Insurance Carriers: Part 1 - GLBA

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This article is the first in a series that will address privacy concerns for insurance carriers, agents and brokers. The insurance industry is uniquely situated at the confluence of multiple data privacy regimes....more

Latham & Watkins LLP

CFPB Finalizes Open Banking Rule

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The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more

Royer Cooper Cohen Braunfeld LLC

Tech Moves Fast, the SEC is Trying to Keep Up

On May 16, the Securities and Exchange Commission (“SEC”) announced the adoption of amendments to Regulation S-P, aimed at modernizing and enhancing the rules governing the treatment of consumers’ nonpublic personal...more

Stark & Stark

Understanding the Enhanced Regulation S-P Requirements

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On May 16, 2024, the Securities and Exchange Commission adopted amendments to Regulation S-P, the regulation that governs the treatment of nonpublic personal information about consumers by certain financial institutions....more

Patterson Belknap Webb & Tyler LLP

New York’s Department of Financial Services Amplifies its Cybersecurity Regulations

On November 1, 2023, the New York State Department of Financial Services (“DFS”) amended its cybersecurity regulations to institute additional standards and controls aimed at securing sensitive data among the financial...more

BakerHostetler

Top 10 Compliance Points for New FTC Safeguards Rule

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Under the updated Rule, FIs are obligated to implement data security measures that will protect against data breaches and cyberattacks in order to prevent financial harm to consumers, including identity theft and loss of...more

Holland & Knight LLP

NYDFS Proposes Amendments to Cybersecurity Regulation

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The New York Department of Financial Services (NYDFS) on Nov. 9, 2022, released Proposed Amendments to its Cybersecurity Regulation. The NYDFS Cybersecurity Regulation was one of the first laws requiring companies to comply...more

Goodwin

NYDFS Consent Order Signals Regulator’s Growing Focus On Financial Institutions’ Incident Response And Security Practices

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In early March, the New York State Department of Financial Services (“NYDFS”) announced a consent order that required Maine-based mortgage servicer Residential Mortgage Services, Inc. (“Residential”) to pay a $1.5 million...more

Mintz - Privacy & Cybersecurity Viewpoints

Vendor Management Fail: FTC Settles with Mortgage Analytics Company following Vendor Security Issues

An oft-used business management concept is to “hire people smarter than you.” The concept also applies to hiring vendors – hire vendors that are better than you (especially when it comes to information security). ...more

Akin Gump Strauss Hauer & Feld LLP

First Enforcement Action by New York Department of Financial Services Under Cybersecurity Regulation

On July 21, 2020, the New York Department of Financial Services (DFS) filed a “Statement of Charges and Notice of Hearing” (the “Charges”) against First American Title Insurance Company (the “Company”) alleging violations of...more

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