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Data Security GLBA Privacy

Hinshaw & Culbertson - Privacy, Cyber & AI...

What Businesses Must Know About the New Federal Trade Commission Amendments on the Safeguards Rule

The recent Federal Trade Commission (FTC) amendment adds a new security breach reporting requirement to the Gramm–Leach–Bliley Act (GLBA) Safeguards Rule. The Safeguards Rule is a regulatory framework that mandates financial...more

Orrick, Herrington & Sutcliffe LLP

FTC’s Safeguards Rule notification requirement under GLBA now in effect

On May 14, the FTC published a business blog post announcing the Safeguards Rule, an amendment to the GLBA, is in effect as of May 13. The Safeguards Rule applies to financial institutions subject to the FTC’s jurisdiction...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 31: The Road Ahead for Financial Services Data Privacy Regulation

Orrick Partner Beth McGinn joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt for our second episode focused on the proposed American Privacy Rights Act and its potential impact on the financial services industry. Beth...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

Q&A: Four State Data Privacy Compliance Insights for 2024

With the first month of 2024 now behind us, it is time for organizations to start seriously considering key comprehensive state data privacy compliance obligations for 2024. In total, seven states passed data privacy laws...more

Husch Blackwell LLP

Federal Trade Commission Amends GLBA’s Safeguards Rule

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Key Point: The Federal Trade Commission (FTC) has amended the Safeguards Rule to require non-banking financial institutions to inform the FTC within 30 days of discovering any unauthorized acquisition of unencrypted customer...more

Pillsbury Winthrop Shaw Pittman LLP

Data Privacy: What Nonprofits Need to Know in the United States, EU and UK, and China

From long-standing laws to incoming legislation, global nonprofits must understand the requirements and prepare for scrutiny in their handling of personal data. U.S. privacy regulations are currently a complex framework of...more

Mintz - Privacy & Cybersecurity Viewpoints

Mintz May Madness: Tennessee’s Information Protection Act Gets Us Thinking About NIST(y) Safe Harbors

The Volunteer State became the eighth state to enact a comprehensive data privacy law after Gov. Bill Lee (R) signed the Tennessee Information Protection Act (“TIPA”) into law yesterday, May 11. Tennessee joins a growing...more

Eversheds Sutherland (US) LLP

NAIC proposes new California-style privacy model law for insurance

On Wednesday February 1, 2023, the NAIC Privacy Protections Working Group (the Working Group) released a draft of a new model law for comment, the Insurance Consumer Privacy Protection Model Law (#674) (the Proposal), which...more

Sheppard Mullin Richter & Hampton LLP

CFPB Starts Year Seeking Comments on Proposals to Give Consumers Enhanced Control of Financial Data

Recently, the CFPB released an outline of proposed measures related to the Bureau’s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers to take control of their personal financial data and determine which...more

Wiley Rein LLP

FTC Pushing Ahead Toward Major Privacy Regulation

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On August 11, 2022, the Federal Trade Commission (FTC) issued an Advance Notice of Proposed Rulemaking (ANPR), titled “Trade Regulation Rule on Commercial Surveillance and Data Security”. The wide-ranging ANPR seeks feedback...more

Orrick, Herrington & Sutcliffe LLP

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

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

Lathrop GPM

2022 Legal Guide to Privacy and Data Security

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Facial recognition technology, drones the size of a butterfly, secure microchips replacing magnetic stripes on credit cards, sensors the size of a grain of sand swallowed by patients that transmit data directly to the...more

Perkins Coie

GLBA Safeguards Rule Updated to Impose New Data Security Requirements

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Following a 3-2 vote, the Federal Trade Commission (FTC) recently announced amendments to the Safeguards Rule under the Gramm-Leach-Bliley Act. The Safeguards Rule was first promulgated in 2002. The revisions are meant to...more

Bradley Arant Boult Cummings LLP

FTC Finalizes Updated Safeguards Rule Under GLBA to Dramatically Expand Data Security Requirements and Scope of Rule

Until now, companies primarily regulated by the Federal Trade Commission (FTC) were given only vague directives to implement systems sufficient to safeguard customer data, coupled with FTC “recommendations” as to best...more

Oberheiden P.C.

5 Keys to Performing A GLBA Audit

Oberheiden P.C. on

Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more

Oberheiden P.C.

Are You a Financial Institution? GLBA Law & Compliance

Oberheiden P.C. on

The Gramm-Leach-Bliley Act (GLBA) is a federal law that establishes various legal requirements for companies that qualify as “financial institutions” under the Act. The GLBA’s definition of a “financial institution” is...more

Husch Blackwell LLP

Utah Gets A New Data Breach Defense Law

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Keypoint: New Utah law creates incentive for businesses to develop and implement a written cybersecurity program to protect themselves against data breach lawsuits. On March 11, 2021, Utah governor Spencer Cox signed the...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

Sheppard Mullin Richter & Hampton LLP

FTC Settles Over Alleged Failure to Manage Service Providers

The FTC recently settled with Ascension Data & Analytics for failure to oversee service providers. Ascension provides services to mortgage companies within its corporate family of entities. According to the complaint,...more

Bradley Arant Boult Cummings LLP

CFPB Issues Advanced Notice of Proposed Rulemaking on Section 1033 for Consumer-Authorized Access to Financial Data

On October 22, 2020, the CFPB issued an advance notice of proposed rulemaking (ANPR) soliciting comments on implementation of Section 1033 of the Dodd-Frank Act. As outlined in the ANPR, Section 1033 will require consumer...more

Sheppard Mullin Richter & Hampton LLP

NY SHIELD Act Data Security Requirements Effective This Month

Businesses collecting personal information from New York residents will soon be expected to apply enhanced data security requirements. The New York SHIELD Act, signed into law in July 2019, expanded breach notice requirements...more

Hogan Lovells

New York State Expected to Increase Enforcement of Cybersecurity Practices

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Companies should take note of two imminent developments in New York in the area of cybersecurity regulation: enforcement of the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (Regulation) and the...more

McDermott Will & Emery

Privacy and Data Security: 2020 Considerations for the Insurance Industry

To stay ahead of the new privacy and data security requirements, such as CCPA and recent data security state laws, insurers need to take steps now to navigate the increasingly complex regulatory landscape. This article...more

Foley & Lardner LLP

New York Increases Breach Notification and Security Responsibilities

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New York State has enacted S5575, the Stop Hacks and Improve Electronic Data Security Act (“SHIELD Act”). This new law amends New York General Business Code 899-aa and adds Section 899-bb to significantly expand consumer...more

Jones Day

Jones Day Global Privacy & Cybersecurity Update | Vol. 22

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UNITED STATES - Regulatory—Policy, Best Practices, and Standards - NIST Director Discusses Future Development of Cybersecurity Framework - On March 4, the director of the National Institute of Standards and Technology...more

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