Navigating Emerging Privacy Issues in Financial Services — The Consumer Finance Podcast
Turning up the Heat – A Look at the FTC’s Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLC - The Crypto Exchange Podcast
CFPB's Section 1071 Final Rule (Part 3): Potential Problem Areas – The Consumer Finance Podcast
Video: Introduction: A Deep Dive into Privacy
What Non-Financial Institutions Need to Know About Gramm-Leach-Bliley
On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data...more
On October 27, 2023, the Federal Trade Commission (FTC) announced it is amending the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA) to include a requirement for non-bank financial institutions to report certain data...more
It is a relentless battle to protect your data from hackers, fraudsters and even nation-states that commit cyberattacks against the financial services sector. Legal requirements for data security come from a variety of...more
As we watch the televised Russian invasion of Ukraine with horrific destruction and casualties caused by missiles, tanks, and other conventional warfare the hostilities may seem far away and distant. As Russia continues to...more
Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more
Has your business considered what obligations you would have to notify people in the event of a cyber-attack that compromises some or all of your IT systems? Have you cataloged all the data you collect and where it is stored...more
What You Should Know •The FTC has amended the Safeguards Rule for non-bank providers of financial products and services by issuing a Final Rule. •The updates are intended to enhance the security of consumer financial...more
We are delighted to welcome you to the second issue of Dechert Cyber Bits, brought to you by members of our top-ranked, global Privacy & Cybersecurity practice. This second issue of Cyber Bits discusses key developments from...more
In this month’s edition of our Privacy & Cybersecurity Update, we examine the FTC’s changes to the Gramm-Leach-Bliley Act’s Safeguards Rule and the CFPB’s order requiring six tech companies to disclose information regarding...more
This past summer’s string of cyber enforcement actions signals that cybersecurity has become a top priority for the US Securities and Exchange Commission (“SEC”). This focus is consistent with the SEC’s Division of...more
A putative consumer class action filed in California state court on Friday the 18th against Petco Animal Supplies Stores Inc. (Petco) and its wholly owned subsidiary PupBox Inc. (PupBox) alleges that between February and...more
The global food and beverage e-commerce market is expected to grow to $22.4 billion in 2020, possibly reaching $36.4 billion in 2023. That’s up from $14.9 billion in 2019. Food and beverage e-commerce revenue in the United...more
Many readers have reached out to learn about the Capital One data breach and how it affects us. If you haven’t been watching the story unfold as closely as I have, here is a summary of what happened, what information was...more
The Ohio legislature recently passed S.B. 220, which gives businesses that suffer a data breach an affirmative defense against tort claims brought in class action suits....more
With major consumer data breaches making headlines on a semi-regular basis, legislators around the country are starting to hold businesses more accountable for cybersecurity compliance. Industry-specific laws such as HIPAA...more
Last year’s proposed comprehensive framework for cybersecurity rules for large financial institutions is suddenly facing an uncertain future. With the comment period having closed as of February 2017, the framework was facing...more
In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more
Updates on the EU: German DPA Publishes First Privacy Shield Guidelines, Requires German-Law Contracts for Transfers. On June 7, 2016, the European Commission adopted the EU-U.S. Privacy Shield. One question that many...more
Whether resulting from a planned cyberattack or mere carelessness, data breaches are on the rise. In 2015, 781 data breaches were reported across the United States, with the average breach costing $3.8 million. In 2016, the...more
New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more
The Bank for International Settlement (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) last week issued the first internationally agreed-upon...more
Last month, the FBI asked the American Bar Association to share a cyberalert with its members warning of an increased risk of ransomware. Ransomware poses significant legal and operational risks to businesses. Personnel at...more
What seems like a long time ago now, in 2011 PricewaterhouseCoopers (PwC) warned that “there is no question that law firms are among the companies being targeted by cyber criminals.” Despite this, many law firms believed (or...more
Recent amendments to the State’s data breach statute give a hard deadline for a business to provide consumer notice, removes encryption safe harbor, exempts entities that are subject to the Health Insurance Portability and...more
Financial institutions are attractive targets for cyber attacks due to their collection of private customer and economic information. In order to help the private sector respond more effectively to cyber attacks, President...more