DE Under 3: Court Held That Workday Was an “Agent” to Employers Licensing its AI Applicant Screening Tools
Business Associates Here, There, and Everywhere: When Does Your Service Provider Really Need to Sign a HIPAA Business Associate Agreement?
In House Counsel: How To Measure the Effectiveness of Your Staffing Strategy
Sitting with the C-Suite: Identifying Opportunities to Leverage Human Capital
The CCPA for the Land Title Industry: Service Providers and Sale of Data Under the CCPA
Podcast - Risk Management: Troubleshooting & Problem Solving
Cybersecurity in the investment management industry
FCPA Compliance and Ethics Report-Episode 157-Training of Third Parties Under the FCPA
Special Report: The Hot-ish Swag at LegalTech New York 2015
On June 6, 2023, the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. (collectively, the “Agencies”) issued final interagency guidance that...more
Financial technology companies (fintechs) and other third parties in bank partnerships are routinely subject to scrutiny by their banking partner customers. The Federal Reserve System, the Federal Deposit Insurance...more
Dem Senators Urge CFPB Focus on P2P Payment Platforms - A group of Democratic U.S. senators sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to take a harder look at peer-to-peer (P2P)...more
Banking regulators across the world often engage proactively with their chartered banks to provide guidance about their priorities. They want feedback, comment, and input about issues that may need addressing. This helps...more
On July 13, the Federal Reserve, FDIC, and OCC proposed risk management guidance to help banking organizations manage risks related to third-party relationships, including relationships with vendors, FinTech companies,...more
Court Rules that Debt Collector Violated FDCPA with Communication to Dunning Vendor - A federal appellate court has recently ruled that a debt collector violated certain privacy requirements under the federal Fair Debt...more
Happy post-election, post-socially-distanced Thanksgiving, and pre-New Year’s newsletter. Banks, non-banks, and FinTechs can look forward to eight days of announcements from the Biden transition team with their latkes and...more
Vendor management is a complex task, yet a necessary undertaking for any organization dealing with third parties. ...more
More than ever before, banks are relying on third-party vendors for important services such as marketing, underwriting assistance, technology, collections, settlement services and even outsourcing of product lines. These...more
The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more
The OCC and CFPB consent orders issued against Wells Fargo on April 20 cited deficiencies in third-party oversight practices. The orders are the latest additions to an ever-expanding body of agency enforcement actions...more
Last week, the OCC released its Semiannual Risk Assessment for Fall 2017 highlighting credit, operational, and compliance risks to the federal banking system. ...more
On October 20, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-43 (the “Bulletin”) outlining principles that OCC-supervised banks should follow to prudently manage the risks associated with...more
Supreme Court: Bank That Buys Debt for Its Own Account Is Not Debt Collector - The U.S. Supreme Court recently held that a bank that collects on debts it has bought and holds “for its own account” is not a debt collector...more
On June 7, 2017, the Office of the Comptroller of the Currency (“OCC”) issued frequently asked questions (“FAQs”) that supplement the OCC’s 2013 guidance entitled “Third-Party Relationships: Risk Management Guidance” (“2013...more
The fourth quarter of 2016 has seen an uptick in regulatory activity respecting the financial services sector in the cybersecurity space, both at the state level as previously discussed (here) and on the federal level....more
On September 13, 2016, the New York Department of Financial Services (DFS) proposed new first-in-the-nation cybersecurity regulations (Regulations) that would require banks and other financial institutions to adopt minimum...more
What are federal regulators doing with regard to oversight of emerging financial technology? That question is at the heart of a letter Sens. Sherrod Brown (D-Ohio) and Jeff Merkley (D-Ore.) recently sent to the leaders of the...more
Law firms providing mortgage servicer clients default-related legal services are vendors, and financial services companies need to treat them as such. Not only that, law firms often interact directly and continuously with...more
For the first time in over twenty years, the Office of the Comptroller of the Currency (OCC) has formally changed its policy governing civil money penalties (CMP) against national banks, federal savings associations, federal...more
Cybercrime and data security incidents are on the rise. Publicized cyber incidents have become so prevalent that it would be difficult to find someone who has not received at least one breach notification letter in the mail....more
Today we’re taking a look at the CFPB’s recent enforcement case against Citibank, N.A. (“Citibank”) and two of Citibank’s subsidiaries, Department Stores National Bank (“DSNB”) and Citicorp Credit Services, Inc. (USA) (“CCSI...more