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Finance & Banking Privacy

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Texas Taking the Lead in State Cryptocurrency Enforcement

by Jackson Walker on

While the SEC has worked over the last several months to provide meaningful guidance around the offer and sale of digital tokens, state securities regulators have now begun to take action, with Texas leading the way. In the...more

Less than One Month To Go!

by Locke Lord LLP on

On February 15, many insurance companies, producers and others with New York DFS licenses and other authorizations (except for certain entities and employees who have filed for an exemption) will need to file a compliance...more

Another Hitch in the Crypto Boom? North Korean Malware Hijacks Computers to Mine Monero Cryptocurrency

Researchers at cybersecurity firm AlienVault have discovered a computer virus of North Korean origin which infects and hijacks computers in order to mine Monero, a private digital currency which styles itself as “secure,...more

Legal Issues Business Leaders Need to Know in 2018

by Arnall Golden Gregory LLP on

In recent years, the CFPB has struck fear into the C-suites of financial services companies. The agency was extraordinarily active in rulemaking that addresses every aspect of lending, prepaid cards and arbitration clauses in...more

Countdown to the First Annual New York DFS Cyber Regulation Certification

On February 15th, organizations subject to the New York Department of Financial Services Cybersecurity Regulation are required to submit their first annual certification attesting to their compliance with the state’s new data...more

2017 Year in Review: Developments in Payments

2017 was a year of continued innovation in the payments space as the adoption of digital payments continued to increase. Below we highlight recent developments in the payments sector....more

Ninth Circuit Finds No Vicarious Liability Under the TCPA for Marketing Text Message

by Burr & Forman on

In Kristensen v. Credit Payment Services, Inc., — F.3d —, 2018 WL 343758 (9th Cir. 2018), the Ninth Circuit recently held that three lenders and two marketing companies could not be vicariously liable under the TCPA for text...more

New Year’s Resolution #5: Four Employee Benefits Resolutions for 2018!

Happy New Year! It’s that time when we all vow to better ourselves in the months ahead. Resolutions abound, and they need not be limited to individual self-improvement. Employers too have many opportunities for betterment in...more

2017 Year in Review: Data Breaches

The year 2017 saw the number of data breaches grow, and the trend is expected to continue and intensify. From Yahoo’s announcement that three billion of its user accounts were compromised to the Equifax breach and resulting...more

Will Congress Upend Credit Reporting Agencies’ Cybersecurity Regulation in Light of Recent Data Breach?

Senators Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) introduced the Data Breach Prevention and Compensation Act on January 10, 2018 in an effort to increase accountability of large Credit Reporting Agencies (CRAs) for...more

SEC Cyber Unit Increases Efforts to Regulate Crypto-Currency

by Nossaman LLP on

Based on how 2017 ended, entities and individuals in the crypto-currency markets should expect increased scrutiny from the United States Securities and Exchange Commission (“SEC”) in 2018. The SEC’s Cyber Unit commenced its...more

Equifax Must Turn Over NY Breach Data This Week

New York State regulators won’t be letting Equifax, Inc. off-the-hook any time soon for last year’s massive data breach that affected more than 145 million Americans....more

2018: Predictions From Socially Aware’s Editors and Contributors

Happy 2018 to our readers! It has become a Socially Aware tradition to start the New Year with some predictions from our editors and contributors. With smart contracts on the horizon, the Internet of Things and...more

2018 NDAA Analysis: Signals Towards the Federal Government’s Growing Interest in Blockchain Technology

by Holland & Knight LLP on

This is the seventh blog post in a series analyzing the current draft of the 2018 National Defense Authorization Act (NDAA) as signed into law on December 12, 2017. Stay tuned for more blog posts covering additional topics in...more

New York DFS Cybersecurity Regulation Update: Lots Left To Do

by Locke Lord LLP on

Insurers and producers, banks, lenders and others licensed by the New York Department of Financial Services (DFS) have already had to comply with several of the requirements of the new DFS Cybersecurity Regulation, but for...more

GDPR FAQ’s for Fund Managers

The General Data Protection Regulation (the “GDPR”) comes into force automatically in each of the European Union Member States (“EU”) on 25 May 2018. Data protection regulation is not new, with the GDPR building on what is...more

GDPR: FAQ for Non-EU Fund Managers

The General Data Protection Regulation (the “GDPR”) comes into force automatically in each of the European Union Member States (“EU”) on 25 May 2018. Data protection regulation is not new, with the GDPR building on what is...more

MDL Litigation: Class and Complex Cases to Watch in 2018

by Carlton Fields on

The Judicial Panel for Multidistrict Litigation (“MDL Panel” or “Panel”) has transferred 97 putative class actions relating to the Equifax data breach to the Northern District of Georgia, where Equifax is headquartered. Judge...more

Cybersecurity 2018 – The Year in Preview: Cryptocurrencies and Blockchain

Editors’ Note: This is the last in a nine-part end-of-year series examining important trends in data privacy and cybersecurity during the coming year. Previous installments include analyses of HIPAA compliance, emerging...more

Cybersecurity Risks to Employee Benefit Plans - Are You Prepared?

by Foley & Lardner LLP on

Unless you’ve been living on a remote mountaintop or inside a cave for the past 10 years, chances are good you’ve either been affected by a cybersecurity breach or know someone who has. Among many other businesses, recent...more

Financial Stability Oversight Council identifies cybersecurity as primary area of risk for the banking industry

by Ballard Spahr LLP on

On December 14, the Financial Stability Oversight Council (FSOC), which was established by the Dodd-Frank Act to analyze and mitigate potential threats to the financial sector, released its first report under the Trump...more

Cybersecurity 2018 – The Year in Preview: International Law and Cyber Warfare

Editors’ Note: This is the seventh in a multi-part end-of-year series examining important trends in data privacy and cybersecurity during the coming year. Previous installments include analyses of HIPAA compliance, emerging...more

Cybersecurity 2018 – The Year in Preview: Financial Institutions and the SEC

Editors’ Note: This is the eighth in a multi-part end-of-year series examining important trends in data privacy and cybersecurity during the coming year. Previous installments include analyses of HIPAA compliance, emerging...more

Early Adopter—Vanguard Announces Plan to Utilize Blockchain Technology

Top mutual fund firm The Vanguard Group, Inc. unveiled a plan last week to incorporate blockchain smart contract technology into some of its indexing operations beginning early next year. Vanguard’s initiative will be carried...more

Banks Find Success Suing Over Data Breaches

Banks continue to file suit against retailers, hoping to shift the costs of data breaches, with some recent success. What happened - In January 2016, hackers accessed Eddie Bauer’s point-of-sale register system and...more

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