Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several...more
6/7/2023
/ Amended Rules ,
Compliance ,
Cybersecurity ,
Data Disposal Protocols ,
Data Retention ,
Encryption ,
Exemptions ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Gramm-Leach-Blilely Act ,
Incident Response Plans ,
Information Systems Security Program (ISSP) ,
Multi-Factor Authentication ,
Popular ,
Risk Management ,
Safeguards Rule ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Training Requirements
As part of Bradley’s continuing coverage of the North Carolina Sandbox Act, we wanted to know what community members and NC fintech aficionados thought about this proposed legislation. We posed six questions to Tariq Bokhari,...more
8/4/2021
/ Banking Sector ,
Blockchain ,
Cybersecurity ,
Data Privacy ,
Emerging Technology Companies ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Insurance Industry ,
NGOs ,
North Carolina ,
Popular ,
Proposed Legislation ,
Stakeholder Engagement ,
Startups ,
State and Local Government
Technology is booming and financial technology (“fintech”) is advancing society in new and innovative ways. In 2021 alone, North Carolina has been the target for some very high-profile technology announcements, including...more
On the heels of FinCen and Federal Banking Agencies releasing a joint statement “Encouraging Innovative Industry Approaches to AML Compliance,” Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker...more
12/4/2018
/ Anti-Money Laundering ,
Artificial Intelligence ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Cryptocurrency ,
Cybersecurity ,
Digital Currency ,
Financial Institutions ,
FinCEN ,
Popular
Security researchers and cybersecurity experts recently discovered a weakness in Fiserv’s web platform, which may have exposed the personal and financial details of customers across hundreds of internet banking sites. The...more
On October 18, 2017, the Consumer Financial Protection Bureau (CFPB) outlined nine non-binding Consumer Protection Principles (the Principles) for the access and sharing of consumer information between third-party companies....more
11/29/2017
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Watchdog ,
Cybersecurity ,
Data Controller ,
Data Security ,
Dodd-Frank ,
EU ,
Financial Institutions ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
Online Payments ,
Personally Identifiable Information ,
Popular ,
Transparency ,
UDAAP
Following the recent Equifax data breach wherein millions of consumers’ private information may have been compromised, it is increasingly clear that consumer-interfacing businesses need to, and in some cases are required to,...more
10/20/2017
/ Automotive Industry ,
Car Dealerships ,
Data Breach ,
Data Collection ,
Data Privacy ,
Equifax ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
GLBA Privacy ,
Information Sharing ,
Lenders ,
Material Nonpublic Information ,
Personally Identifiable Information ,
Privacy Notice Rule ,
Privacy Rule ,
Social Security Numbers ,
Third Party Lenders
The Office of the Comptroller of the Currency (OCC) recently issued supplemental guidance (Bulletin 2017-21) on third-party risk management. Responding to questions raised by banks and federal savings associations since the...more
This blog is the first in a series of articles which will examine the risks, rewards, innovative uses, and changing legal landscape of social media use by financial services institutions. Future blog articles will examine...more
On November 21, 2016, the comment period closed on the Federal Trade Commission's (FTC) request for public feedback on the Standards for Safeguarding Consumer Information Rule (Safeguards Rule). The FTC is considering...more
Last month, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued an Advisory which provided substantial guidance to financial institutions regarding the scope of information that must be...more
Last month the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) proposed new rules which would require non-federally regulated banks to implement Customer Identification Program (CIP) requirements...more