State Privacy Laws, Gramm-Leach-Blilely Act, Financial Services Industry

Where is the GLBA Entity-Level Exemption? Two More State Privacy Laws Now Apply to Financial Institutions

Orrick, Herrington & Sutcliffe LLP on 7/8/2025

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

House Subcommittee Considers Modernizing Financial Services Under a National Privacy Framework

Kelley Drye & Warren LLP on 6/9/2025

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

Changes to GLBA Safeguards Rule Affect More Than Traditional Financial Institutes

Shutts & Bowen LLP on 10/7/2022

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

What Fintech Companies Need to Know About GLBA and FCRA Exemptions Under State Data Protection Laws

Orrick, Herrington & Sutcliffe LLP on 8/3/2022

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

What Fintech Companies Need to Know About Key Federal Privacy Requirements

Orrick, Herrington & Sutcliffe LLP on 7/29/2022

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

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

Morgan Lewis on 11/22/2021

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