Background on Open Banking and the CFPB -
The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more
11/20/2024
/ Banking Sector ,
Competition ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Rights ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
New Rules ,
Open Banking ,
Popular ,
Proposed Regulation ,
Regulatory Requirements ,
Technology
The Consumer Financial Protection Bureau (CFPB) announced that it was issuing a Notice of Proposed Rulemaking regarding Personal Financial Data Rights on October 19, 2023. The proposed rule (Proposed Rule) would implement...more
3/20/2024
/ Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Fair Credit Reporting Act (FCRA) ,
Federal Industry Standards ,
Financial Regulatory Reform ,
Financial Services Industry ,
Gramm-Leach-Blilely Act ,
Notice of Proposed Rulemaking (NOPR) ,
Open Banking ,
Personal Finances ,
Proposed Rules ,
Regulatory Requirements ,
Technology
Following a related request for information (RFI) earlier this year, the Consumer Financial Protection Bureau (CFPB) announced on August 15, 2023, its intention to launch rulemaking targeting data brokers. This rulemaking...more
The Federal Trade Commission (FTC) issued a policy statement on May 18, 2023, addressing concerns relating to the collection and use of biometric information. The Biometrics Policy Statement, which the FTC’s Commissioners...more
Creators in film, television, music, and gaming are increasingly turning to artificial intelligence and machine learning (AI/ML) models to deliver new content and experiences to audiences. Recent headlines have highlighted...more
The Consumer Financial Protection Bureau (CFPB) announced on March 15, 2023, that it is issuing a Request for Information (RFI) about the business practices of data brokers, which the agency said will assist it in “planned...more
3/28/2023
/ Algorithms ,
Consumer Financial Protection Bureau (CFPB) ,
Criminal Background Checks ,
Data Brokers ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Fair Credit Reporting Act (FCRA) ,
Machine Learning ,
Marketing ,
Personal Data ,
Request For Information ,
Rulemaking Process
In recent years, apparel and retail businesses have increasingly sought to provide customers with options to interact with the brand’s merchandise and services in virtual environments...more
Biometric data is becoming increasingly pervasive in our daily lives—we use it to unlock smartphones, gain entry to entertainment venues, access secured locations, and record time and attendance on the job site....more
3/2/2022
/ Biometric Information ,
Biometric Information Privacy Act ,
Corporate Counsel ,
Data Collection ,
Data Privacy ,
Data Security ,
Enforcement Actions ,
Facial Recognition Technology ,
Fingerprints ,
Personal Data ,
Personally Identifiable Information ,
State and Local Government ,
State Attorneys General ,
Texas