News & Analysis as of September 25, 2024

Cybersecurity › Banks

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

FDIC sunsets its FFIEC Cybersecurity Assessment Tool

Orrick, Herrington & Sutcliffe LLP on 9/19/2024

On September 5, the FFIEC announced the sunsetting of the Cybersecurity Assessment Tool (CAT) on August 31, 2025. The CAT, introduced in June 2015, was a voluntary tool designed to help financial institutions identify...more

Nutter Bank Report: August 2024

Nutter McClennen & Fish LLP on 9/3/2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

The Growing Cyber Risks in Fintech and How to Mitigate Them

Woodruff Sawyer on 6/10/2024

The fintech revolution has reshaped the financial world, creating new opportunities to borrow, save, transact, and invest like never before. With no signs of slowing, fintech revenues are projected to grow sixfold from $245...more

Building Cyber Resilience in the Financial Services Sector: New Rules in Europe

Cooley LLP on 5/31/2024

Key takeaways - DORA – The Digital Operational Resilience Act (DORA) is a European Union regulation that came into force on January 16, 2023 and will take effect on January 17, 2025. Its goal is to enhance information...more

Payments Playbook Series: AI in Payments

Wilson Sonsini Goodrich & Rosati on 5/3/2024

In the highly competitive payments space, where safety and efficiency tools are table stakes, financial institutions are increasingly employing artificial intelligence (AI) solutions....more

Regulatory monitoring Newsletter - February 2024

A&O Shearman on 3/4/2024

1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - ECB: Memorandum of Cooperation between ECB and CAs on third-country bank supervision - Status: Final - The ECB has published a Memorandum of...more

Regulatory monitoring: EU version Newsletter - February 2024

A&O Shearman on 3/4/2024

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

American Conference Institute (ACI) on 2/28/2024

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

Is the Roof on Fire? Data Privacy Risk in the Financial Services Industry

Woodruff Sawyer on 2/21/2024

Compliance is difficult, and litigation and enforcement risks are high for financial services companies. Navigating a Proustian rulebook, it’s impossible to get everything right all the time. Legal and compliance work in...more

2024 Brings New Cyber-Related Legal Obligations for Banks and Fintech Firms

Dinsmore & Shohl LLP on 1/24/2024

Fintech companies and their partners are on alert as a flurry of new state and federal cybersecurity requirements take effect. The New York Department of Financial Services (NYDFS) and the Federal Trade Commission (FTC) both...more

Regulatory monitoring: EU version - December 2023

A&O Shearman on 1/10/2024

1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - EBA: Roadmap on strengthening the Prudential framework - Status: Final - The EBA has published its roadmap on the Banking Package, which...more

NYDFS Amended Cybersecurity Rules: Overview of Upcoming Deadlines

Akin Gump Strauss Hauer & Feld LLP on 12/20/2023

On November 1, 2023, the New York Department of Financial Services (NYDFS) announced the adoption of amendments to its Cybersecurity Regulation 23 NYCRR Part 500 (“Amended Cybersecurity Rules” or “Amended Rules”). NYDFS...more

Regulatory monitoring: EU version - November 2023

A&O Shearman on 12/4/2023

1. Bank regulation - 1.1 Prudential regulation - The ESRB has published a speech by Christine Lagarde, President of the ECB and Chair of the ESRB, on its first general warning about financial stability risks that it published...more

[Event] 29th Annual Flagship Conference on Regulatory Compliance for Financial Institutions - November 21st - 22nd, Toronto, ON,...

American Conference Institute (ACI) on 10/30/2023

Don’t miss the opportunity to gain valuable insights from industry experts at Canadian Institute’s Annual Flagship Conference on Regulatory Compliance for Financial Institutions. This event will equip you with strategies to...more

Protecting Personal Data in the Banking Industry: Lessons from the Farage Controversy

Thomas Fox - Compliance Evangelist on 9/1/2023

Today I want to consider a burgeoning imbroglio in the UK involving Nigel Farage. While you might not think of Farage as a candidate for the FCPA Compliance Blog, it turns out that his current banking situation has some very...more

Federal Reserve Issues Guidance on Novel Activities, Including Bank-Fintech Partnerships

Morrison & Foerster LLP on 9/1/2023

On August 8, 2023, the Board of Governors of the Federal Reserve System (FRB) issued two Supervision and Regulation Letters (“SR Letters”) that provide guidance on the agency’s supervision of novel activities and the process...more

Securities Class Action Trend Cases

Cornerstone Research on 7/26/2023

From SPACs to COVID-19, several trends have appeared in core filing activity in recent years. The data below is from Securities Class Action Filings—2023 Midyear Assessment....more

OCC updates cybersecurity exam procedures

Orrick, Herrington & Sutcliffe LLP on 7/3/2023

On June 26, the OCC issued Bulletin 2023-22 announcing recent updates to the agency’s approach to cybersecurity assessment procedures. The Cybersecurity Supervision Work Program (CSW) provides high-level examination...more

Nutter Bank Report: June 2023

Nutter McClennen & Fish LLP on 6/30/2023

The federal banking agencies have published new guidance to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology (fintech) companies. The new...more

Considerations for M&A Transactions Involving Fintech Companies

Wilson Sonsini Goodrich & Rosati on 6/16/2023

M&A transactions involving financial services providers—including tech-based providers or “fintechs”—raise a host of unique questions based on the types of services they provide, which are often highly regulated and may...more

Compliance Experts Discuss Off-Channel Communications and Mobile Surveillance Policies

Guidepost Solutions LLC on 5/24/2023

Roundtable Discussion: Off-Channel Communications and Mobile Surveillance Policies - Surveillance, monitoring, escalation, and reporting are critical components to regulatory compliance and risk management. So is...more

[Webinar] Banks in the Crosshairs: Cyberattacks and Aggressive Regulators - May 25th, 1:00 pm - 2:00 pm ET

EDRM - Electronic Discovery Reference Model on 5/18/2023

Financial institutions are in a tough spot- caught between the “bad guys” (state-sponsored cyberattacks and cyber criminals) and “good guys” (ever more aggressive regulators)- what’s a bank to do??? Tune in to find out!...more

FDIC Publishes Consumer Compliance Supervisory Highlights

Goodwin on 4/17/2023

Regulatory Developments - FDIC Publishes Consumer Compliance Supervisory Highlights - On April 5, the FDIC published its latest edition of Consumer Compliance Supervisory Highlights (the Highlights). This edition of...more

Promissory Notes - Banking & Finance Insights: V 3, Issue 3, March 2023

Spilman Thomas & Battle, PLLC on 4/3/2023

Now is the Time to Guard Against Reckless Banking Legislation - “Only a structural change to the way Congress acts on financial regulation will prevent future losses.” Why this is important: An old adage is that...more

Operational resilience in the UK, EU and US: A comparison

White & Case LLP on 12/5/2022

With a new operational resilience framework in force in the UK and similar reforms proposed in the EU and the US, we examine how the regimes compare and their practical impact on financial services firms....more

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Cybersecurity › Banks

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