The financial services industry faced unprecedented cybersecurity and privacy challenges in 2020. From learning how to operate with a remote workforce, dealing with a complex and evolving regulatory environment, facing an...more
Both the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury have issued advisories recently regarding regulatory considerations financial...more
While most of us have been understandably focused on the presidential election, the State of California has passed significant new privacy legislation that may have a substantive impact on your business. Specifically,...more
A public cybersecurity advisory was issued yesterday about a likely ransomware attack against the health care and public health sector. The Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of...more
10/30/2020
/ Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Department of Health and Human Services (HHS) ,
FBI ,
Health Care Providers ,
Health Information Technologies ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
Hospitals ,
Public Health ,
Ransomware ,
Risk Mitigation
Last week, the New York Department of Financial Services (NYDFS) filed its first enforcement action against a title insurance company (the company) alleging multiple violations of its Cybersecurity Regulation. New York's...more
Last week, the California Attorney General submitted the final proposed regulations for the California Consumer Privacy Act (CCPA) to the California Office of Administrative Law (OAL). The submission of the final proposed...more
Financial institutions are continuing to address the immense business impact of coronavirus (COVID-19). The Federal Financial Institutions Examinations Counsel (FFIEC) has issued its updated guidance on pandemic planning and...more
On October 10, the California Attorney General issued its proposed regulations for the California Consumer Privacy Act (CCPA). The long-anticipated regulations are intended to provide guidance to businesses for how to comply...more
10/16/2019
/ California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Opt-Outs ,
Personal Information ,
Privacy Laws ,
Proposed Regulation
It should not be surprising to anyone that cybersecurity and data protection remain top priorities for regulators of the financial services industry. Indeed, cybersecurity has been regularly identified as a key priority by...more
5/3/2019
/ Broker-Dealer ,
Customer Information ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Investment Adviser ,
OCIE ,
Opt-Outs ,
Policies and Procedures ,
Popular ,
Privacy Policy ,
Regulation S-P ,
Risk Alert ,
Securities and Exchange Commission (SEC)
Identity theft protection isn't just for adults anymore. As stories of data breaches and identity theft have become part of the daily news cycle, a recent law enacted by Congress provides increased protection to minors from...more
The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more
The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more
Last month, facing the threat of a ballot initiative in November, the California legislature passed the California Consumer Privacy Act of 2018 (the "Act"). The Act is the most rigorous privacy measure in the United States in...more
On June 28, the California legislature passed AB 375, the California Consumer Privacy Act of 2018. The impact of the law reaches far beyond California. Much like the European Union's General Data Protection Regulation (GDPR),...more
A recent finding by the U.S. Government Accountability Office (GAO) could have a significant impact on the indirect auto lending industry. Last month, the GAO issued an opinion declaring that a Consumer Financial Protection...more
The CFPB recently announced a new policy guidance concerning the data required to be collected, reported, and disclosed by financial institutions to the public under the Home Mortgage Disclosure Act (HMDA). The guidance is...more
The Federal Trade Commission (FTC) has updated its compliance plan for the Children's Online Privacy Protection Act (COPPA). Introduced in 1998, COPPA establishes the guidelines under which personal information may be...more
The CFPB has provided additional time to prepare for its long-anticipated prepaid accounts rule, moving the rule's effective date from October 1, 2017 to April 1, 2018. Per the CFPB, the delay will allow industry participants...more
As financial institutions face increased scrutiny on assessing Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk, there is now another tool to help document that risk. The Conference of State Bank Supervisors (CSBS),...more
In October, the CFPB issued its first ever Project Catalyst Innovation Report highlighting "innovation insights" by FinTech companies in multiple areas. The CFPB launched the Project Catalyst initiative in November 2012 with...more