Quantum computing (QC) is poised to disrupt cybersecurity in ways that business leaders and legal professionals cannot afford to ignore. But what exactly is quantum computing, why does it pose such a significant threat to...more
4/1/2025
/ Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Encryption ,
EU ,
National Security ,
NIST ,
Popular ,
Risk Management ,
Technology Sector
California leads the way with new AI laws promoting transparency, privacy and ethical practices across various industries. January 1, 2025, marked the start of a series of significant AI laws going into effect in California....more
2/12/2025
/ Artificial Intelligence ,
California ,
California Consumer Privacy Act (CCPA) ,
Data Privacy ,
Ethics ,
Health Care Providers ,
Healthcare ,
Popular ,
Social Media ,
State Privacy Laws ,
Technology Sector ,
Transparency
Executive orders will have dramatic impact on federal agencies, contractors, and grantees, and sow uncertainty about voluntary DEI initiatives. Following his second-term inauguration, President Trump swiftly signed a...more
The California legislature recently passed Assembly Bill 2013 (AB 2013) on August 27, 2024, a measure aimed at enhancing transparency in AI training and development. If signed into law by Governor Gavin Newsom, developers of...more
9/23/2024
/ Algorithms ,
Artificial Intelligence ,
California ,
Copyright ,
Data Management ,
Disclosure Requirements ,
Innovative Technology ,
Intellectual Property Protection ,
Machine Learning ,
New Regulations ,
Regulatory Agenda ,
Regulatory Oversight ,
State Legislatures ,
Transparency
On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential...more
On March 12, 2024, Acting Comptroller of the Currency Michael Hsu indicated in a speech that regulations may soon be forthcoming that would be designed to bolster larger depository institutions’ ability to withstand...more
The Consumer Financial Protection Bureau (CFPB), the primary federal regulator charged with enforcing consumer financial protection laws, recently announced a proposed rulemaking that would require the myriad non-banks...more
As previously discussed, financial services regulators are increasingly focused on how businesses use artificial intelligence (AI) and machine learning (ML) in underwriting and pricing consumer finance products. Although...more
On October 20, 2020, a consortium of U.S. federal financial regulators (Regulators), issued a proposed rule (Proposed Rule) that, if enacted, would codify that mere supervisory guidance that is not the product of notice and...more
The Board of Governors of the Federal Reserve System has recently indicated it may move forward with enhanced cybersecurity standards that had previously been floated by the Board, the Office of the Comptroller of the...more
In light of a recent Wipro data breach, Wipro’s customers should move quickly to take operational and contractual precautions to help minimize the breach’s potential effects on their organizations.
Wipro, the India-based...more
Financial institutions regulated by the New York Department of Financial Services (DFS)—referred to in this post as “Covered Entities”—should by now be well familiar with the department’s sweeping cybersecurity regulation, 23...more
Mick Mulvaney is secure in his new title as Acting Director of the Consumer Financial Protection Bureau (CFPB)—at least for now—as a result of a Trump-appointed judge’s decision, issued on November 28, 2017. The decision came...more
12/1/2017
/ Administrative Agencies ,
Consumer Financial Protection Bureau (CFPB) ,
Declaratory Rulings ,
Director Nominations ,
Dodd-Frank ,
Federal Reserve ,
Federal Vacancies Reform Act ,
Presidential Appointments ,
Richard Cordray ,
Trump Administration ,
Vacancies Act
Financial Institutions may need to revise consumer contracts to remove class action waivers in preparation for a March 2018 federal rule.
On July 19, the U.S. Consumer Financial Protection Bureau, the federal regulator for...more
Effective March 1, 2017, first-in-kind regulations issued by the New York Department of Financial Services (New York DFS) will begin to affect a wide array of both depository and non-depository financial institutions. The new...more
In response to a challenge from mortgage servicer PHH Corp. regarding the constitutionality of the single director structure of the Consumer Financial Protection Bureau (the CFPB or Bureau), the United States Court of...more
10/20/2016
/ Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Director Removal ,
Dodd-Frank ,
Government Agencies ,
PHH Corp. v CFPB ,
Presidential Elections ,
Removal At-Will ,
Removal For-Cause ,
RESPA ,
Severability Doctrine ,
Single Director ,
Statutory Interpretation
With the August 1st start of the Privacy Shield, the European Commission’s new and long-awaited transatlantic data transfer agreement with the U.S., businesses that had previously relied on the invalidated Safe Harbor scheme...more
8/16/2016
/ Binding Corporate Rules ,
Court of Justice of the European Union (CJEU) ,
Data Collection ,
Data Protection Authority ,
Department of Justice (DOJ) ,
EU ,
EU-US Privacy Shield ,
European Commission ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
Model Contracts ,
Personal Data ,
U.S. Commerce Department ,
US Department of State ,
US-EU Safe Harbor Framework
Companies offering payment services or financial products to consumers are facing a proposed rule from the CFPB that would prohibit class action waivers in binding pre-dispute arbitration agreements. Although the information...more
On February 2, 2016, the European Commission and the U.S. Department of Commerce reached an accord on a new transatlantic data transfer protocol. Nicknamed the EU-U.S. Privacy Shield, the framework would replace the...more
Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad has recently stated that the CFTC may soon issue principles based standards that would require certain CFTC-regulated entities to conduct penetration,...more
Europe’s top court ruled that U.S. companies relying upon the “Safe Harbor Framework” data sharing regime to maintain information regarding EU citizens is “invalid.” This means that any company relying upon the Safe Harbor...more
10/8/2015
/ Binding Corporate Rules ,
Data Protection ,
European Court of Justice (ECJ) ,
International Data Transfers ,
National Security ,
National Security Agency (NSA) ,
Personal Data ,
PRISM Program ,
Privacy Policy ,
Right to Privacy ,
Safe Harbors ,
Schrems I & Schrems II ,
US-EU Safe Harbor Framework