HHS Cybersecurity Performance Goals and the Healthcare Industry -
The healthcare industry is a major target for cyberattacks because of all of the personal information collected from patients. Recognizing that the healthcare...more
3/8/2024
/ Artificial Intelligence ,
Automation Systems ,
Biden Administration ,
Biometric Information ,
Cancer ,
Climate Action Plan ,
Cybersecurity ,
Data Protection ,
Department of Health and Human Services (HHS) ,
Disclosure Requirements ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Fraud ,
Healthcare ,
Incident Response Plans ,
Life Sciences ,
Online Safety for Children ,
Personal Information ,
Pharmaceutical Industry ,
Privacy Laws ,
Securities and Exchange Commission (SEC) ,
Security Breach ,
Technology Sector
Volume 4, Issue 2, 2024 Welcome! Welcome to the second issue of Promissory Notes - our banking and finance e-newsletter - for 2024.
Business today is characterized by relentless change. To assist our clients in navigating...more
3/5/2024
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Disclosure Requirements ,
Financial Institutions ,
Financial Services Industry ,
Foreclosure ,
Incident Response Plans ,
Loans ,
Mergers ,
OCC ,
Policy Statement ,
Promissory Notes ,
Proposed Regulation ,
Securities and Exchange Commission (SEC)
OCC Issues Guidance on ‘Buy Now, Pay Later’ Lending -
“The guidance notes that banks should maintain underwriting, repayment terms, pricing, and safeguards that minimize adverse customer outcomes and should ensure that...more
1/29/2024
/ Artificial Intelligence ,
Banking Regulators ,
Basel Committee on Banking Supervision (BCBS) ,
Buy Now Pay Later (BNPL) ,
Climate Change ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Interest Rates ,
Lending ,
Machine Learning ,
New Guidance ,
OCC ,
Risk Management ,
Software
The Current Status of Privacy Laws Across the United States -
Unlike the General Data Protection Regulation (GDPR) in the European Union (EU), the United States does not have a nationwide comprehensive data privacy law....more
1/17/2024
/ 3D Printing ,
Algorithms ,
Biometric Information ,
Biometric Information Privacy Act ,
Consumer Privacy Rights ,
COPPA ,
Cybersecurity ,
Data Brokers ,
Data Protection ,
Data Security ,
Facial Recognition Technology ,
Hackers ,
Healthcare ,
Legislative Agendas ,
Medical Devices ,
New Legislation ,
New Regulations ,
New York ,
Online Safety for Children ,
Personal Data ,
Privacy Laws ,
Public Schools ,
Ransomware ,
Regulatory Agenda ,
State and Local Government ,
State Privacy Laws ,
Technology
Revisiting…Are Automakers Making Sufficient Efforts to Protect Customer Data?
As a follow-up to our previous article and webinar, “Are Automakers Making Sufficient Efforts to Protect Customer Data?", we are addressing the...more
12/20/2023
/ American Civil Liberties Union (ACLU) ,
Automotive Industry ,
CEOs ,
CFTC ,
CRISPR ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Life Sciences ,
Manufacturers ,
Personal Data ,
Public Schools ,
Regulatory Agenda ,
Remote Working ,
Securities and Exchange Commission (SEC) ,
Surveillance ,
Technology Sector
FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches -
“Amendment will require non-bank financial institutions to report when they discover that information affecting...more
11/8/2023
/ Artificial Intelligence ,
Banks ,
Beneficial Owner ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Transparency Act ,
Credit Unions ,
Data Breach ,
Data Security ,
Debit Cards ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Interest Rates ,
Non-Bank Lenders ,
Reporting Requirements ,
Safeguards Rule ,
State and Local Government
You may be Entitled to Financial Compensation…for Your Data -
“Without all of our writings and photos that AI companies are using to train their models, they would have nothing to sell.”
Why this is important: This...more
8/4/2023
/ Algorithms ,
Artificial Intelligence ,
Biotechnology ,
Bots ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Data Deletion ,
Data Privacy ,
Educational Institutions ,
FCC ,
Federal Trade Commission (FTC) ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Investment ,
Life Sciences ,
Online Platforms ,
PHI ,
Ransomware ,
Ripple ,
School Districts ,
Securities ,
Securities and Exchange Commission (SEC) ,
Technology Sector
Community Banks Renew Fight Against ILCs -
“ICBA reiterates opposition to non-bank-owned lenders’ applications to the FDIC, naming GM, Ford, Rakuten.”
Why this is important: The Independent Community Bankers of...more
2/22/2023
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Divestment ,
FDIC ,
Federal Reserve ,
Fees ,
Financial Institutions ,
FinTech ,
Fossil Fuel ,
Internet ,
Investment ,
Lenders ,
Stress Tests
Big Boosts to Cybersecurity and Tech Funding in $1.7T Omnibus Bill Signed by Biden -
“The bipartisan fiscal 2023 omnibus spending agreement includes $2.9 billion for the Cybersecurity and Infrastructure Security Agency, a...more
2/1/2023
/ Amazon ,
Animal Testing ,
Biden Administration ,
Biometric Information Privacy Act ,
Construction Industry ,
Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
Discrimination ,
Energy Sector ,
FBI ,
Federal Funding ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Florida ,
Food and Drug Administration (FDA) ,
Infrastructure ,
North Korea ,
Popular ,
Privacy Acts ,
Privacy Laws ,
Remote Working ,
Scams ,
Social Media ,
State and Local Government ,
Telemedicine ,
Texas
North Carolina Power Outage Points to Homeland Security Long-Documented Threats to US Power Grid -
“Moore County blackouts serve as reminder that nation’s electricity infrastructure could be vulnerable targets for domestic...more
12/16/2022
/ Advertising ,
Banking Sector ,
Chapter 11 ,
Class Action ,
Consumer Privacy Rights ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Cuba ,
Cybersecurity ,
Data Collection ,
Debt Collection ,
Department of Homeland Security (DHS) ,
Electricity ,
FDIC ,
Federal Trade Commission (FTC) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Infrastructure ,
Non-Bank Lenders ,
OCR ,
Phishing Scams ,
Power Grid ,
Privacy Laws ,
Ransomware ,
Regulatory Agenda ,
State and Local Government ,
Technology Sector ,
Terrorist Threats ,
Text Messages ,
Threat Management ,
Tracking Systems ,
Unsolicited Advertisements
US Senators Ask SoFi About Its Banking Law Compliance =
“Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more
12/7/2022
/ American Bankers Association ,
Bank Holding Company ,
Banking Sector ,
Banks ,
Biden Administration ,
Commercial Bankruptcy ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Credit Cards ,
Cryptocurrency ,
Digital Currency ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Non-Bank Lenders ,
Overdraft Fees ,
Regulatory Agenda ,
Regulatory Oversight ,
Scams
Complex, Customized CRISPR Combo Could Help Patients Cure Their Own Cancer -
“In a small phase 1 clinical trial run by PACT Pharma, researchers edited the genes of 16 patients’ immune cells to work against their cancer,...more
12/5/2022
/ Biotechnology ,
CRISPR ,
Cyber Attacks ,
Data Management ,
Genetic Materials ,
Geolocation ,
Google ,
Healthcare ,
Information Technology ,
Life Sciences ,
NFL ,
Non-Fungible Tokens (NFTs) ,
Online Safety for Children ,
Patient Privacy Rights ,
Pharmaceutical Industry ,
Popular ,
Ransomware ,
Traumatic Brain Injuries
Schumer: Senate ‘Very Close’ To Passing SAFE Banking Act -
“The House of Representatives passed the bill for the sixth time earlier this year.”
Why this is important: The passage of the Secure And Fair Enforcement...more
11/21/2022
/ Agribusiness ,
Banking Sector ,
Cannabis-Related Businesses (CRBs) ,
College Athletes ,
Credit Unions ,
Cryptoassets ,
Cryptocurrency ,
Debt Restructuring ,
Decriminalization of Marijuana ,
Dispensaries ,
Environmental Social & Governance (ESG) ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Marijuana ,
Name and Likeness ,
NCAA ,
Regulatory Oversight ,
Small Business
The Supreme Court has Made It Harder to Regulate New Technologies -
“However, the way the Supreme Court did this—by recognizing and endorsing the ‘major questions doctrine’—threatens regulation and public policy in the...more
IRS Says It Exposed Some Confidential Taxpayer Data on Website "Tax agency says error led to posting about some taxpayers with IRAs." Why this is important: In the last issue of Decoded, we discussed the fact that the IRS...more
Biden Signs Bills Aimed at Catching Pandemic Business Loan Cheats -
"President Joe Biden signed a pair of bills that will give the Justice Department more time to investigate and prosecute people accused of fraudulently...more
CHIPS and Science Act Will Lower Costs, Create Jobs, Strengthen Supply Chains, and Counter China
"Spurred by the passage of the CHIPS and Science Act of 2022, companies have announced nearly $50 billion in additional...more
Data Privacy, Abortion Limits Set to Collide Post-Roe "Even before the June 24 ruling in Dobbs v. Jackson Women’s Health Organization, privacy advocates, concerned that data on women seeking abortions could be used to target...more
Is the U.S. Finally Getting a Comprehensive Cybersecurity and Data Protection Law? What You Need to Know About the Proposed American Data Privacy and Protection Act -
In the beginning of the 2000s, as a result of the...more
7/21/2022
/ Biotechnology ,
Consumer Privacy Rights ,
Coronavirus/COVID-19 ,
CRISPR ,
Cryptocurrency ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Facial Recognition Technology ,
Food and Drug Administration (FDA) ,
Nanotechnology
SOFR Gaining Momentum as Drop Dead Date for Libor Nears -
"Transition from US dollar Libor to its preferred alternative, SOFR, is going surprisingly well, though treasurers are having to grapple with some operational...more
The PATCH Act: Protecting Medical Devices from Cyber Attacks -
In a previous issue of Decoded, we discussed the alarming fact that many medical devices, including those implanted in patients' bodies, are leaving the...more
6/10/2022
/ Augmented Reality ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Health Care Providers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Medical Devices ,
Popular ,
Ransomware
Banking Law Rooted in Civil Rights Era Gets a 21st Century Update "The Community Reinvestment Act basically mandates that if you open a bank in a low-income neighborhood, you can’t just take that neighborhood’s deposits and...more
6/3/2022
/ Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Decriminalization of Marijuana ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
OCC
House Subcommittee Debates Device Remanufacturing Definition, Sends User-Fees Bill to Next Stage
"Proponents of the remanufacturing bill are looking to better distinguish between medical device remanufacturing, and...more
5/27/2022
/ Coronavirus/COVID-19 ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Environmental Social & Governance (ESG) ,
Food and Drug Administration (FDA) ,
GAO ,
Medical Devices ,
Phishing Scams ,
Ransomware
Data Breach Corner - Cash App Data Breach Affects More than 8M Users -
"A former employee of the company downloaded reports containing the personal information of U.S. users."
Why this is important: Not all data...more
CFPB Focuses on Rural Banking Access -
"Rural Americans visit bank branches at nearly double the rate of urban and suburban customers, the CFPB found in its report, titled Challenges in Rural Banking Access."
Why...more