In this latest issue of Wilson Sonsini's Focus on Fintech newsletter, we discuss the FTX bankruptcy and the increased federal regulatory scrutiny of crypto assets, and new rules and innovations in the payments...more
2/1/2023
/ Banking Sector ,
Banks ,
Central Bank Digital Currency (CBDCs) ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
OCC ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
UK
Given that cyberattacks continue to be sophisticated and severe, and cybersecurity continues to be a top concern for regulators, consumers, business partners, and investors, companies should be proactive and devote adequate...more
The year 2023 promises to be another big year for privacy. In 2022, regulators focused on AI, dark patterns and aggressive remedies for allegedly deceptive and unfair data practices, such as disgorgement of algorithms...more
Businesses making health claims about their products (e.g., foods and dietary supplements) or services (e.g., apps) should take note of new guidance that the Federal Trade Commission (FTC) released at the end of December...more
On October 7, 2022, President Biden signed an Executive Order (Order) on Enhancing Safeguards for United States Signals Intelligence Activities. This marks the latest step towards the new EU-U.S. Data Privacy Framework...more
On September 15, 2022, the Federal Trade Commission (FTC) held an open Commission meeting that covered three agenda items: 1) a rulemaking on impersonation scams, 2) a policy statement on enforcement related to gig work, and...more
9/19/2022
/ Contract Terms ,
Corporate Counsel ,
Enforcement Actions ,
False Advertising ,
False Statements ,
Federal Trade Commission (FTC) ,
FTC Act ,
Gig Economy ,
Misleading Impressions ,
Misleading Statements ,
Unfair Competition
On August 10, 2022, the Consumer Financial Protection Bureau (CFPB) issued a final Interpretive Rule stating that the Consumer Financial Protection Act (CFPA) applies to companies engaged in targeted advertising of financial...more
On August 11, 2022, the Federal Trade Commission (FTC) took the first step toward creating national privacy and security rules that, if finalized, would apply across most sectors of the U.S. economy. The agency unveiled...more
On June 24, 2022, the United States Supreme Court issued its decision in Dobbs v. Jackson Women's Health Organization,1 opening a legal path to state laws restricting or prohibiting access to certain reproductive health...more
7/22/2022
/ Abortion ,
Biden Administration ,
Data Collection ,
Data Privacy ,
Department of Health and Human Services (HHS) ,
Dobbs v. Jackson Women’s Health Organization ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
OCR ,
Pregnancy ,
Privacy Concerns ,
SCOTUS
On June 3, 2022, members of the U.S. Congress released a bipartisan, bicameral discussion draft of a comprehensive national data privacy and data security framework. The draft is notable in that it reflects a compromise on...more
COVID-19 has rapidly accelerated our expectations that virtual connection can deliver better and more economical care. As a result, digital health companies have an unprecedented opportunity to innovate, but with that...more
6/2/2022
/ Coronavirus/COVID-19 ,
Data Management ,
Data Privacy ,
Data Protection ,
Digital Health ,
Health Care Providers ,
Healthcare Facilities ,
Personal Data ,
Physicians ,
Popular ,
Telehealth ,
Telemedicine
On May 19, 2022, at an open commission meeting, the Federal Trade Commission (FTC) voted unanimously to: 1) release a new policy statement on the Children's Online Privacy Protection Act (COPPA) indicating that the FTC will...more
Last week, the Federal Trade Commission (FTC) and the District Attorneys of Los Angeles County and Riverside County agreed to an order to settle claims against Frontier Communications Intermediate, LLC and its parent company,...more
Connecticut became the fifth U.S. state to enact a comprehensive consumer privacy law following California, Virginia, Colorado, and Utah. On May 10, 2022, Connecticut Governor Ned Lamont signed "An Act Concerning Personal...more
As a fintech company, platform offering payment services, or a cryptocurrency business, you may be used to operating in uncharted waters; the Consumer Financial Protection Bureau (CFPB), however, is ready to start drawing...more
On April 19, 2022, the BBB National Programs' Center (BBB NP) for Industry Self-Regulation launched the TeenAge Privacy Program (TAPP) Roadmap, a new operational framework to help companies develop digital products and...more
On April 12, 2022, the U.S. Consumer Financial Protection Bureau (CFPB) filed a lawsuit against TransUnion, two of its subsidiaries, and former TransUnion executive John Danaher in his individual capacity for violating an...more
On April 4, 2022, the U.S. Department of Justice (DOJ) Civil Division's Consumer Protection Branch (CPB) released its first-ever annual "recent highlights" report. The report describes the CPB's accomplishments from October...more
Coined in Neal Stephenson's 1992 best-selling novel, Snow Crash, the term "metaverse" has recently reentered the general public's lexicon to denote a technology hailed by some as the successor to the mobile internet and the...more
On March 25, 2022, the U.S. and EU announced that they reached a political agreement in principle on a new "Trans-Atlantic Data Privacy Framework" (the Framework). This would be the third framework for EU-U.S. personal data...more
As the United States cautiously emerges from the depths of the pandemic, researchers are forecasting double-digit gains in ad spending for 2022. If you're part of the wave of companies developing new advertising campaigns,...more
On March 15, 2022, the Federal Trade Commission (FTC) announced it had filed a complaint against Residual Pumpkin Entity, LLC, formerly doing business as CafePress, and PlanetArt LLC, which bought CafePress in 2020...more
Thinking of creating a non-fungible token (NFT) marketplace? You're not alone. Global NFT transactions have risen from $40.96 million in 2018 to around $25 billion in 2021. Organizations from the NBA to Taco Bell have begun...more
An alphabet soup of U.S. government agencies has taken steps toward regulating artificial intelligence (AI). Last year, Congress passed the National Artificial Intelligence Initiative Act, which creates numerous new...more
Imagine you receive an inquiry from a state Attorney General (AG) about your privacy or security practices, and you aren't sure what to do next. Maybe it's because you have been concentrating on compliance efforts related to...more