Biden Makes It Easier for Student Loan Borrowers to Get a Mortgage -
"The new rule supported by the Biden administration proposed that FHA lenders drop the requirement to calculate student loan payments at 1%."
Why this is...more
8/25/2021
/ Biden Administration ,
Blackberry ,
Connected Cars ,
Consumer Financial Products ,
Credit Scores ,
False Claims Act (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Mortgages ,
Paycheck Protection Program (PPP) ,
Student Loans ,
TCPA
The T-Mobile Data Breach is One You Can’t Ignore -
"Hackers claim to have obtained the data of 100 million people—including sensitive personal information."
Why this is important: Earlier this week, reports began...more
8/18/2021
/ Artificial Intelligence ,
Biden Administration ,
Biometric Information ,
Biometric Information Privacy Act ,
Bitcoin ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Hackers ,
Insurance Industry ,
Robocalling ,
Trademarks
Bye-Bye, Bitcoin: It's Time to Ban Cryptocurrencies -
"International banking officials say cryptocurrencies such as bitcoin are speculative assets, not sustainable, usable money."
Why this is important: This opinion piece...more
8/5/2021
/ 3D Printing ,
Big Tech ,
Biometric Information ,
Biotechnology ,
Bitcoin ,
Blockchain ,
China ,
CRISPR ,
Cryptocurrency ,
Department of Energy (DOE) ,
Digital Currency ,
Facial Recognition Technology ,
Food and Drug Administration (FDA) ,
Novartis ,
Patents ,
Personal Information ,
Supply Chain ,
Technology Sector ,
USPTO
Welcome to our sixth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights.
SBA to Drop Its Review of PPP Loans of $2 Million and Above -
"The effort marks an about-face for the agency...more
8/4/2021
/ Banking Sector ,
CARES Act ,
Digital Assets ,
FDIC ,
Financial Institutions ,
Foreclosure ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business
Have questions about just what exactly is an NFT? In this video, Spilman Thomas & Battle attorneys Brandon Hartman, Hugh Wellons, and Risa Katz-Albert briefly discuss what an NFT is, what can be done with an NFT, and some of...more
Video - NFTs are Not Tulips! (Or are They?) -
Have questions about just what exactly is an NFT? In this video, Spilman Thomas & Battle attorneys Brandon Hartman, Hugh Wellons, and Risa Katz-Albert briefly discuss what an...more
7/22/2021
/ Algorithms ,
Big Tech ,
Communications Decency Act ,
Cryptocurrency ,
Digital Assets ,
Facial Recognition Technology ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Local Ordinance ,
Nanotechnology ,
Non-Fungible Tokens (NFTs) ,
Privacy Concerns ,
Section 230 ,
Technology Sector ,
USPS
Court Redirects Most Ring LLC Privacy Litigation Plaintiffs to Arbitration
"In the complaint, the plaintiffs alleged that Ring’s security systems were defectively designed without sufficient security protocols, leaving...more
7/8/2021
/ Artificial Intelligence ,
Biotechnology ,
CRISPR ,
Cryptocurrency ,
Cybersecurity ,
Nanotechnology ,
Non-Fungible Tokens (NFTs) ,
Ransomware ,
Research and Development ,
Standing ,
Technology Sector ,
TransUnion LLC v Ramirez
Welcome to our fifth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights. We hope you are enjoying our monthly publication.
Banks to Companies: No More Deposits, Please -
"Some banks,...more
Humana Sued Over Wrongful Records Access Data Breach -
"Louisville, Ky.-based Humana is being sued over a data breach last fall that exposed the personal information of about 65,000 of its health plan members, according...more
US Senator Urges Treasury Secretary Yellen to Take Action on Cryptocurrency Scams to Protect Investors
“'This is an unregulated industry, and the alarming amount of criminal activity surrounding cryptocurrency demands...more
6/10/2021
/ Automation Systems ,
Blockchain ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Cybersecurity ,
Federal Trade Commission (FTC) ,
Innovative Technology ,
Life Sciences ,
Semiconductors ,
State Data Breach Notification Statutes ,
Tesla ,
Vaccinations
PA Health Dept Sued; Investigation Looms, After Contact Tracing Breach
"The PA health dept. is being sued, after employees of its vendor Insight Global set up an unsecured channel to share COVID-19 contact tracing data,...more
5/27/2021
/ China ,
Contact Tracing ,
Coronavirus/COVID-19 ,
CRISPR ,
Cryptocurrency ,
Cybersecurity ,
Data Protection ,
Driverless Cars ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Medical Devices ,
Popular ,
Ransomware ,
Technology Sector
Digital Dollar Project to Launch Five U.S. Central Bank Digital Currency Pilots -
"A partnership between Accenture and the Digital Dollar Foundation, the Digital Dollar Project was created last year to promote research...more
5/12/2021
/ Biometric Information ,
Biometric Information Privacy Act ,
Bitcoin ,
Blockchain ,
Coronavirus/COVID-19 ,
CRISPR ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
FinTech ,
Non-Fungible Tokens (NFTs)
House Passes Cannabis Banking Bill -
"The House passed the same bill in 2019 by a similar margin, but it stalled in what was then the GOP-controlled Senate."
Why this is important: The Safe Banking Act, if passed, will...more
5/10/2021
/ Banking Sector ,
Banks ,
Cannabis-Related Businesses (CRBs) ,
CARES Act ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Loan Forgiveness ,
OCC ,
Paycheck Protection Program (PPP) ,
Payday Loans ,
SBA ,
True Lender
Data Breach at New England’s Largest Energy Provider -
"A misconfiguration error has exposed personal data belonging to customers of New England's largest energy provider."
Why this is important: New England's largest...more
5/4/2021
/ Biotechnology ,
Blockchain ,
Carbon Emissions ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Internet of Things ,
Vaccinations
Supreme Court Rules in Google’s Favor in Copyright Dispute with Oracle Over Android Software -
After the Supreme Court's April 6 decision in Google LLC v. Oracle America, Inc., 141 S.Ct. 1183 (2021), the computer software...more
4/21/2021
/ Biotechnology ,
Bitcoin ,
Coinbase ,
Computer Programmers ,
Consumer Financial Products ,
Consumer Privacy Rights ,
Copyright ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Federal Trade Commission (FTC) ,
FinTech ,
Google ,
Hackers ,
Initial Public Offering (IPO) ,
Java ,
Non-Fungible Tokens (NFTs) ,
Oracle v Google ,
Software ,
Startups ,
State Privacy Laws
The Fed Plans to Unveil Digital Dollar Prototypes in July -
"The Boston Fed and MIT hope to unveil some of their work in the third quarter, including at least two prototype software platforms that could move, store and...more
Binance Probed by CFTC Over Whether U.S. Residents Traded -
"Binance, which has an office in Singapore but says it lacks a single corporate headquarters, hasn’t been accused of misconduct and the investigation may not lead...more
4/1/2021
/ 3D Printing ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Data Collection ,
FinTech ,
Popular ,
Technology Sector ,
Trade Secrets
Jones Day Hit by Data Breach as Vendor Accellion Hack Widens -
"Jones Day is the second major law firm in two weeks to have private data exposed as a result of a breach at Accellion, which provides file transfer and other...more
Texas Governor Abbott Working on Legislation to Prevent Social Media Platforms from 'Canceling Conservative Speech' -
"Section 230, a provision in the Communications Decency Act, currently protects social media companies...more
Court Rejects Parler’s Demand that Amazon Host Its Services -
"Parler claimed (1) antitrust violations, (2) breach of contract, and (3) tortious interference."
Why this is important: Parler has tested the old adage...more
New Tribunal Created for Unauthorized Streaming Services -
On December 21, 2020, Congress passed the Copyright Alternative in Small-Claims Enforcement Act of 2020 and a law on penalties for certain digital transmission...more
1/20/2021
/ Biden Administration ,
Biometric Information ,
Bitcoin ,
Coronavirus/COVID-19 ,
Criminal Investigations ,
Cryptocurrency ,
Cybersecurity ,
Data Collection ,
Facial Recognition Technology ,
Governor Cuomo ,
Iran ,
Law Enforcement ,
Nanotechnology ,
Technology Sector ,
Trade Relations
The Federal Reserve Board ("FRB") began publishing the Secured Overnight Financing Rate ("SOFR") in April. This rate was developed to be a more reliable benchmark than LIBOR, which lost credibility a few years ago when it was...more
5/4/2018
/ Banking Sector ,
Banks ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Interest Rates ,
Investors ,
Libor ,
Loans ,
Market Manipulation ,
Repurchases ,
Secured Overnight Funding Rate (SOFR) ,
U.S. Treasury
Many financial institutions across the nation are receiving threatening letters claiming that their websites are not accessible as required by the Americans with Disabilities Act (“ADA”). The letters first went to financial...more
We interviewed Michelle Crook, CFO of the Bank of Botetourt, and Chris Snodgrass, CFO for Bank of Marion, for our Community Banking Excellence this quarter. We wanted to know what primary forces are affecting chief financial...more
This past year has seen many changes in the community banking industry. Some of these issues we expected and some had more of an impact than maybe we would have thought. As we reflect and look forward to 2016, we asked...more