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New California Privacy & Protection Act Proposes Standards for Personal Information Encryption, Bans Sales of Voice-Recording TVs,...

New legislation proposed in California includes a package of privacy-related bills referred to as the California Privacy & Protection Act. The bills proposed include...more

The Government's Strategy to Combat the "Cyber Arms Race"

In the midst of ongoing, escalating and increasingly troublesome reports of large-scale corporate cyber breaches, the federal government is trying to fight back more forcefully with a dual strategy to shore up agency...more

CFPB Hot Topics for 2015

Despite rumblings from the new Congress about reining in the Consumer Finance Protection Bureau (CFPB), the Bureau has indicated a packed agenda for 2015. Following an aggressive push in 2014, the attention of the CFPB...more

CFPB Takes Aim at Relationships between Universities and Credit and Debit Card Issuers

Financial institutions marketing credit and debit cards to college and university students should prepare for likely investigations and enforcement actions by the Consumer Financial Protection Bureau and other regulatory...more

CFPB and Department of Education Reach Agreement with Buyer of For-Profit Colleges

On February 3, the CFPB and the U.S. Department of Education announced that they had reached an agreement with ECMC Group, to provide debt relief and additional consumer protections to borrowers who took out private loans...more

White House Big Data Working Group Claims “Significant Progress” On Executive Branch Privacy Initiatives, But Blames Congress and...

On February 5 the White House big data and privacy working group released an “Interim Progress Report” (hereinafter “the Interim Report”) summarizing its “progress in furthering the majority of the recommendations made” in...more

UDAAP Round Up: 2014 Year in Review

In this issue: - A. UDAP/UDAAP Actions - 1. Auto Lending - 2. Banking Products - 3. Credit Card Add-On Products - 4. Credit Card Advertising - 5. Credit Reporting and...more

Pass Or Fail? CFPB Seeks to Grade Financial Institutions Working With Schools

Why it matters - Under a new proposal from the Consumer Financial Protection Bureau (CFPB), financial companies would be graded on a “scorecard” for their offerings to students. The “Safe Student Account Scorecard”...more

CFPB seeks information from industry on student loan modification options and issues guidance on private student loans with ...

As a follow up to a January 2014 meeting with private student loan lenders and servicers convened by Director Cordray and Education Secretary Arne Duncan, the CFPB sent letters last week to certain “market participants”...more

Regulators Release Guidance on Private Student Loans With Graduated Repayment Terms at Origination

On January 29, the federal financial regulatory agencies (the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union...more

President Obama Announces New Legislative Proposal Focused on Improving the Nation’s Cybersecurity

In response to the recent wave of high-profile data breaches, President Obama has revealed proposed legislation aimed at improving the nation’s cybersecurity by increasing certain privacy protections, streamlining the...more

President Obama Proposes New Data Privacy Legislation

On January 12, President Obama announced new privacy initiatives to combat identity theft, enhance consumer security, and improve data privacy online and in the classroom. His main legislative proposals call for (i) a...more

CFPB Issues Request For Information on Proposed “Safe Student Account Score Card”

On January 14, the CFPB issued a press release seeking public comments on its “Safe Student Account Scorecard.” The scorecard is a tool for colleges and universities to solicit information on the fees and features of...more

The CFPB & UDAAP: A “Know It When You See It” Standard?

The Consumer Financial Protection Bureau’s (CFPB) continued and expanded reliance on its sweeping authority to prohibit unfair, deceptive, and abusive acts or practices (UDAAP) continues to command the attention of financial...more

Cybersecurity and Privacy in State of the Union Address

As expected in his State of the Union address last night, President Obama made it very clear that cybersecurity is on his agenda for 2015. After stating that: “No foreign nation, no hacker should be able to shut down...more

Obama Administration Announces Cybersecurity and Privacy Initiatives

On Monday, January 12, 2015, President Obama appeared at the Federal Trade Commission to announce the administration’s blitz of cyber security and privacy legislative and public policy initiatives, which will be discussed in...more

President Obama Proposes National Data Breach Law, Unveils New Consumer and Student Privacy Initiatives

On January 12 President Obama visited the Federal Trade Commission (“FTC”) where he unveiled several new data security and privacy initiatives, including proposed legislation to create a national data breach notification law...more

The Road Ahead: Privacy and Cybersecurity in 2015

2014 has been called the “Year of the Data Breach.”  In the wake of many high-profile data breaches, including the recent Sony breach, 2015 promises a continued focus on privacy and cybersecurity issues. This week, President...more

White House Proposes National Data Breach Notification Standard

This has been a big week for cybersecurity announcements from Washington. In what the White House has called a series of “SOTU Spoilers,” President Obama announced his intention to follow through on some of the...more

Privacy & Cybersecurity Update - January 2015: President Announces Cybersecurity Legislative and Regulatory Proposals

On January 12 and 13, in speeches at the Federal Trade Commission (FTC) and the National Cybersecurity and Communications Integration Center (NCCIC), President Barack Obama announced several initiatives to enhance online...more

CFPB proposes scorecard for colleges seeking to partner with financial institutions

The CFPB has issued a request for information (RFI) in which it seeks comments on a draft “Safe Student Account Scorecard” to be used by colleges and universities to obtain information from prospective financial institution...more

President Obama Announces New Federal Data Breach, Student Privacy and Consumer Privacy Legislative Initiatives

On Monday January 12, President Barack Obama announced several new proposals aimed at protecting consumer and student data in the digital age. The proposals will center on three pieces of proposed legislation, addressing...more

President Obama Proposes Legislation Requiring Businesses to Notify Customers of Data Security Breaches Within 30 Days

In a speech given before the Federal Trade Commission (FTC) on Monday, January 12, President Obama proposed federal legislation that would impose a nationwide standard on companies that experience a data security breach. The...more

Obama Sets Forth Privacy Initiatives to Federal Trade Commission

Yesterday, President Barack Obama addressed the Federal Trade Commission (FTC) and outlined his proposal for protecting and strengthening consumer and student personal data. President Obama called on Congress to support his...more

President Announces New Legislation and Partnerships for Increased Privacy Protections

Today, President Obama announced a series of new bills and voluntary partnerships the White House will launch in order to further protect individual privacy in the wake of several high-profile data breaches at major U.S. and...more

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