News & Analysis as of

State Privacy Laws Cybersecurity Financial Services Industry

Miller Nash LLP

Swipe, Tap, Comply: What PCI DSS 4.0.1 Means for your Business

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With the seemingly never-ending updates to B2B contracts for compliance with new (and amended) comprehensive state privacy laws, the U.S. Department of Justice’s bulk data transfer rule, and artificial intelligence (AI)...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

Sheppard Mullin Richter & Hampton LLP

North Dakota Passes New Data Security Law for “Financial Corporations”

North Dakota recently passed a law establishing new rules for certain financial companies operating in the state – specifically “financial corporations.” The new obligations will take effect on August 1, 2025. They will apply...more

Alston & Bird

2025 State Cybersecurity Legislation Focuses on Financial Services

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Eight years ago, on March 1, 2017, the New York Department of Financial Services enacted its landmark cybersecurity regulation covering financial services companies, 23 NYCRR Part 500, known as “Part 500.” Part 500 was the...more

Goodwin

2024 Year in Review: Data Privacy and Cybersecurity

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Welcome to the “Data Privacy and Cybersecurity” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. Consumer financial services regulators are taking a keen interest in artificial intelligence...more

Husch Blackwell LLP

New York Amends its Data Breach Notification Law

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Keypoint: New York has amended its data breach notification law twice in the last 60 days to (1) add a 30-day deadline for notifying affected residents, (2) clarify that covered financial entities must still notify the New...more

Barnea Jaffa Lande & Co.

Cybersecurity Enforcement Tightens in NY, Reflecting a Trend

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The New York State Department of Financial Services (NYDFS) and the Attorney General’s office have recently imposed significant fines totalling $11.3 million on Geico and Travelers for data breaches that compromised the...more

Sheppard Mullin Richter & Hampton LLP

Amendments to NYDFS’ Cybersecurity Regulations Take Effect November 1

The New York Department of Financial Services has modified its cybersecurity requirements for regulated entities. These requirements are in addition to those included in the regulations as last updated in November of last...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Speaks Out on AI and its Cybersecurity Risks

The New York Department of Financial Services (“NYDFS”) recently published guidance on managing cyber risks related to AI for the financial services and insurance industry. Though the circular letter does not introduce any...more

Baker Donelson

[Webinar] New Privacy and Cybersecurity Regulations: What Financial Institutions Need to Know to Stay Compliant - June 13th, 10:00...

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The financial services industry has seen a litany of new data privacy and cybersecurity challenges through the first half of 2024. Financial institutions are facing unprecedented compliance hurdles resulting from the...more

Eversheds Sutherland (US) LLP

A Measured Approach - US Cybersecurity and Data Privacy Review and Update: Looking back on our 2023 articles and planning ahead...

Technological advances, especially in Artificial Intelligence and quantum computing, will continue to amaze in the coming years. They will open up vast new opportunities while presenting profound regulatory, litigation, and...more

Goodwin

2023 Year in Review: Data Privacy and Cybersecurity

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Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Amendments to key rules and regulations will take effect in 2024,...more

Hinshaw & Culbertson LLP

Marking Data Privacy Week With Four 2024 Predictions

Data Privacy Week is always ongoing! Here are some of Hinshaw's top data privacy law predictions for 2024. 1. New State Data Laws Will Continue to be Adopted in 2024, Varying in Scope and Enforcement Mechanisms - There will...more

Sheppard Mullin Richter & Hampton LLP

NY Enhances Financial Cybersecurity Regulations

New York recently announced amendments to the State Department of Financial Services’ cybersecurity regulations. The changes further solidify the state’s already comprehensive cybersecurity regulatory regime. The amendments...more

Alston & Bird

The Digital Download – Alston & Bird’s Privacy & Data Security Newsletter – November 2023

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Publications and Advisories - November 13, 2023 – Kathleen Benway, Kate Hanniford, Amy Mushahwar, Kim Peretti, and Lance Taubin published “Privacy, Cyber & Data Strategy Advisory: FTC Approved New Data Breach Notification...more

Sheppard Mullin Richter & Hampton LLP

State Privacy Law Roundup: What Financial Services Entities Need to Know

Financial services companies beware: the new state privacy laws exemption are not uniform. To recap, there are privacy laws in 12 states: California, Colorado, Connecticut, Florida, Indiana, Iowa, Montana, Oregon, Tennessee,...more

Orrick, Herrington & Sutcliffe LLP

Colorado releases privacy act updates

Last month, the Colorado attorney general released a third version of draft rules to implement and enforce the Colorado Privacy Act (CPA). A hearing on the proposed draft rules was held February 1. ...more

Orrick, Herrington & Sutcliffe LLP

Colorado releases second draft of Colorado Privacy Act rules

On December 21, the Colorado attorney general released a second set of draft rules for the Colorado Privacy Act (CPA). As previously covered by a Buckley Special Alert, the CPA was enacted in July 2021 to establish a...more

Shutts & Bowen LLP

Changes to GLBA Safeguards Rule Affect More Than Traditional Financial Institutes

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The Gramm-Leach-Bliley Act (“GLBA”) was a bi-partisan regulation passed by Congress in 1999 in an attempt to update and modernize the financial industry. One component of the GLBA, its Safeguards Rule, requires financial...more

Orrick, Herrington & Sutcliffe LLP

What Fintech Companies Need to Know About Key Federal Privacy Requirements

The financial technology (“Fintech”) industry has boomed over the last decade, from the rise of mobile payment apps, robo-advisers, lending platforms, consumer-friendly brokerages to cryptocurrency trading platforms. By their...more

Fisher Phillips

Forecast: March 2022 Edition

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Welcome to FP Forecast, a monthly outlook featuring Fisher Phillips thought leaders providing their insights into what employers can expect in 2022 and beyond. By following along each month, you’ll be in the best position to...more

Skadden, Arps, Slate, Meagher & Flom LLP

New Rules, Enforcement Actions Make Financial Institutions’ Planning for Cyberattacks Even More Imperative

Takeaways - Implementing strong cybersecurity practices helps companies prepare for future regulatory requirements. Incident-response plans must enable financial institutions to give timely and accurate notifications...more

Morgan Lewis

Expanded Safeguards Rule Applicable to More Financial Institutions; Gives More Specificity on Security Requirements

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The Federal Trade Commission recently finalized a long-discussed update to its cybersecurity Safeguards Rule that includes more specific criteria for what financial institutions must implement as part of their information...more

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