House Passes Banking Bill Providing Dodd-Frank Relief

Ballard Spahr LLP

The U.S. House of Representatives on Tuesday passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 258 to 159. Having passed the U.S. Senate on March 14 by a vote of 67 to 31, the Act now goes to President Donald J. Trump, who is expected to sign it into law. Although the Act does not make the sweeping changes to the Dodd-Frank Act contemplated by other proposals, it nevertheless provides welcome regulatory relief to both smaller and larger financial institutions.

The Act makes a number of changes to provisions of Dodd-Frank and other federal laws regarding consumer mortgages, credit reporting, and loans to veterans and students. It also reduces the regulatory burdens on financial institutions—particularly financial institutions with total assets of less than $10 billion. Bank holding companies with up to $3 billion in total assets would be permitted to comply with less-restrictive debt-to-equity limitations instead of consolidated capital requirements. This change should promote growth by smaller bank holding companies, organically or by acquisition. Larger institutions should benefit from the higher asset thresholds that would apply to systemically important banks subject to enhanced prudential standards. The higher thresholds may lead to increased merger activity between and among regional and super regional banks.

The following is a summary of some of the Act's key provisions applicable to financial institutions:

Improving Consumer Access to Mortgage Credit

New Category of Qualified Mortgage Loan. The Act creates a new qualified mortgage (QM) category for insured depository institutions and insured credit unions that have, together with their affiliates, less than $10 billion in total consolidated assets. A loan that satisfies the applicable requirements is deemed to comply with the ability to repay requirements of the Truth In Lending Act (TILA). To comply, the loan cannot have an interest-only or negative-amortization feature and would need to comport with prepayment penalty limitations under the TILA ability-to-repay requirements; the institution must consider and document the consumer's debt, income, and financial resources but does not have to follow Appendix Q of the ability-to-repay rule; and the institution must retain the loan in portfolio, subject to limited exceptions that include transferring the loan to another qualifying institution.

Appraisal Donations. The Act amends TILA appraisal provisions to provide that if an appraiser voluntarily donates appraisal services to an organization that is eligible to receive tax-deductible charitable contributions, the voluntary donation is considered to be customary and reasonable. The Act effectively permits appraisers to donate appraisal services to charitable organizations, such as Habitat for Humanity.

Appraisal Exemptions for Loans in Rural Areas. The Act amends the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) to exclude a loan made by a bank or credit union from the FIRREA requirement to obtain an appraisal if certain conditions are met. The conditions are that the property is located in a rural area; the transaction value is less than $400,000; the institution retains the loan in portfolio, subject to exceptions, and; not later than three days after the Closing Disclosure is given to the consumer, the mortgage originator or its agent has contacted not fewer than three state-licensed or state-certified appraisers, as applicable, and documented that no such appraiser, as applicable, was available within five business days beyond customary and reasonable fee and timeliness standards for comparable appraisal assignments, as documented by the mortgage originator or its agent.

HMDA Exemptions. For insured depository institutions and insured credit unions, the Act amends the Home Mortgage Disclosure Act (HMDA) to exempt those institutions from the new reporting categories added by Dodd-Frank and the HMDA rule adopted by the Consumer Financial Protection Bureau (CFPB) respecting closed-end mortgage loans if the institution or credit union originated fewer than 500 such loans in each of the preceding two calendar years, and home equity lines of credit (HELOCs) if the institution or credit union originated fewer than 500 HELOCs in each of the preceding two calendar years. The HELOC change will not initially affect reporting because, for 2018 and 2019, the threshold to report HELOCs is 500 transactions in each of the preceding two calendar years under a temporary CFPB rule.

The Act's exemption from reporting the new HMDA data does not apply if the institution received a rating of "needs to improve record of meeting community credit needs" during each of its two most recent Community Reinvestment Act (CRA) examinations, or "substantial noncompliance in meeting community credit needs" on its most recent CRA examination. The U.S. Treasury recently made recommendations for changing CRA regulations.

Job Opportunities for Mortgage Originators. The Act amends the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) to provide a 120-day transitional license to a mortgage loan originator moving from a depository institution to a non-depository institution, or a state-licensed lender in one state to the same or another state-licensed lender in another state. A mortgage originator must meet certain conditions to obtain a transitional license, including that the originator:

  • has not had an application for a loan originator license denied
  • has not had a loan originator license revoked or suspended
  • has not been subject to, or served with, a cease-and-desist order in any governmental jurisdiction or under the SAFE Act
  • has not been convicted of a misdemeanor or felony that would preclude licensure under the law of the applicable state, and
  • has submitted a license application in the applicable state.

Exemption From Escrow Requirements. The Act excludes a mortgage loan made by an insured depository institution or insured credit union with assets of $10 billion or less from TILA's mandatory escrow account requirements, subject to the conditions that: during the preceding calendar year the institution or credit union and its affiliates originated not more than 1,000 first lien loans secured by a principal dwelling; the institution made a loan in a rural or underserved area within a certain timeframe; and subject to exceptions, the institution does not otherwise maintain mortgage loan escrow accounts.

Mortgage Disclosures. The Act presumably seeks to eliminate the need under the TILA/RESPA Integrated Disclosure (TRID) rule for a second, three-business-day waiting period before the parties can close a consumer mortgage loan when the annual percentage rate decreases by more than the applicable tolerance after the initial Closing Disclosure is issued. However, the TRID rule's applicable waiting period requirements are set forth in Regulation Z and not TILA. Instead of amending TILA to change the TRID rule waiting period, the Act amends the waiting period requirements under TILA for high-cost mortgage loans. Further, the Act states that it is the sense of Congress that the CFPB should endeavor to provide clearer, authoritative guidance on: the applicability of the TRID rule to mortgage loan assumptions and construction-to-permanent loans, and the conditions under which the latter can be properly originated, and the extent to which "lenders can rely on model disclosures published by the CFPB without liability if recent changes to regulations are not reflected in the sample TRID Rule forms published by the CFPB."

Regulatory Relief and Protecting Consumer Access to Credit

Capital Simplifications for Qualifying Community Banks. The Act requires the federal banking agencies to establish a "Community Bank Leverage Ratio" of not less than 8 percent or more than 10 percent for "Qualifying Community Banks." The Community Bank Leverage Ratio is equal to the tangible equity capital to the average total consolidated assets. A Qualifying Community Bank is any insured depository institution or depository institution holding company with total consolidated assets of less than $10 billion that was not determined ineligible by its primary federal regulator due to its risk profile. Factors considered in evaluating a bank's risk profile include off-balance sheet exposures, trading assets and liabilities, derivative exposures, and other factors.

A Qualifying Community Bank that met the new Community Bank Leverage Ratio is also considered to have met generally applicable leverage capital requirements, generally applicable risk-based capital requirements, and any other capital or leverage requirements to which such insured depository institution and insured depository institution holding company is subject. A Qualifying Community Bank that was an insured depository institution is also deemed to be well capitalized under Section 38 of the Federal Deposit Insurance Act (FDIA) and related regulations. This designation insulates a large number of community banks from the complexities of the Basel III capital framework.

Limited Exception for Reciprocal Deposits. Under the Act, reciprocal deposits from an agent institution are not considered to be funds obtained, directly or indirectly, by or through a deposit broker to the extent such reciprocal deposits do not exceed the lesser of $5 billion and 20 percent of the agent institution's total liabilities. This provision would benefit less than well-capitalized financial institutions that would otherwise have to request a difficult to obtain waiver or would be ineligible to receive an FDIC waiver from the restrictions in Section 29 of the FDIA on the acceptance of brokered deposits.

Community Bank Relief. The Act provides an exemption for banks with less than $10 billion in assets from the prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds in Section 13 of the Bank Holding Company Act of 1956, known as the "Volcker Rule." A bank is exempt so long as the total trading assets and trading liabilities of the bank and any company that controls the bank are less than 5 percent of total consolidated assets.

Short Form Call Reports. The Act requires federal regulators to prescribe regulations to simplify call reports in the first and third calendar quarters for their supervised insured depository institutions that have less than $5 billion in total consolidated assets, and satisfy other criteria that the federal regulator establishes.

Option for Federal Savings Associations to Operate as National Banks. For federal savings associations with total consolidated assets equal to or less than $15 billion, the Act allows a savings association, upon the submission of notice to the Office of the Comptroller of the Currency, to exercise the same rights and privileges as a national bank. Federal savings associations that make an election continue to maintain such rights and privileges after the election, even if the total consolidated assets of the federal savings association subsequently exceed $15 billion.

Small Bank Holding Company Policy Statement. The Act requires the Federal Reserve System's Board of Governors to revise the "Small Bank Holding Company and Savings and Loan Holding Company Policy Statement" to increase the consolidated asset threshold thereunder from $1 billion to $3 billion, leaving the other requirements of such bank holding companies and savings and loan companies the same. This change will allow bank holding companies with less than $3 billion in assets to avoid consolidated capital requirements and allow them to comply instead with less restrictive debt-to-equity limitations.

Expedited Funds Availability Act. The Act amends the Expedited Funds Availability Act's definition of "State" to include American Samoa, the Commonwealth of the Northern Mariana Islands, and Guam. "State" was previously defined to include any U.S. state, the District of Columbia, Puerto Rico, and the Virgin Islands.

Examination Cycle. The Act raises the threshold in Section 10(d)(4)(A) of the FDIA for small institutions eligible for 18-month examinations from $1 billion to $3 billion of total consolidated assets.

Budget Transparency for NCUA. The Act amends the Federal Credit Union Act to require the National Credit Union Administration to publish a budget and hold a hearing and accept public comment on its budget.

Online Banking Rules. The Act permits a bank to use a scanned image of a driver's license to open a customer's bank account or receive a product or service. The Act provides that a financial institution that makes a copy or receives an image of a driver's license must permanently delete the copy or image after it has used the copy or image to: verify the authenticity of the license; verify the identity of the individual; or comply with legal requirements related to opening an account or obtaining a financial product or service.

Acquisition, Development, or Construction Loans. The Act clarifies that federal bank regulators may only assign a heightened risk weight to a high volatility commercial real estate loan that is an "HVRCE ADC Loan." Such a loan is defined as a credit facility secured by land or improved real property that: finances or refinances the acquisition, development or construction of the property; has the purpose of providing financing to acquire, develop, or improve such real property into income producing real property; and is dependent for repayment upon future income, sale proceeds, or refinancing of the facility. The Act exempts from the definition of HVCRE ADC Loans, loans that finance the acquisition, development of construction of: one-to-four family residential properties; community-development projects; and agricultural land. Loans to acquire or improve income producing properties and commercial real estate projects that meet certain loan-to-value ratios are also exempted under certain circumstances.

Reducing Identity Fraud. The Act requires the Commissioner of the Social Security Administration to take steps to reduce the prevalence of synthetic identity fraud (which disproportionately affects minors and recent immigrants) by allowing financial institutions and other permitted entities to validate fraud protection data through a database maintained by the Commissioner.

Report on the Risk of Cyber Threats. The Act requires the U.S. Treasury to submit a report on the risk of cyber threats to financial institutions and capital markets.

Protections for Veterans, Consumers, and Homeowners

Credit Freeze. The Act amends the Fair Credit Reporting Act (FCRA) to permit a consumer to place or remove a freeze on the consumer's credit report at no cost. The protections do not extend to other types of consumer reports, such as insurance reports and employee background checks. Furthermore, the provision only applies to the "Big Three" credit bureaus (Equifax, Experian, and TransUnion) and preempts the credit freeze laws that have already been enacted in all 50 states.

Protecting Veterans' Credit. The Act extends additional protections to veterans relating to the inclusion of negative information on a veteran’s credit report due to delays in the reimbursement of medical expenses incurred in a non-Department of Veterans Affairs (DVA) facility that were submitted to the DVA for repayment. The Act establishes a new process by which a veteran can dispute negative credit report information by submitting notice along with proof of the DVA's liability for payment of the debt or documentation that the DVA is in the process of making payment for authorized medical services.

Immunity From Suit for Disclosure of Financial Exploitation of Senior Citizens. The Act shields financial institutions and their employees who have received requisite training from any civil or administrative proceeding for disclosing the suspected exploitation of a senior citizen.

PACE Financing. The Act subjects Property Assessed Clean Energy (PACE) financing to TILA ability-to-repay requirements under rules to be adopted by the CFPB. The Act defines such financing as financing to cover the costs of home improvements that result in a tax assessment on the consumer's real property. The Act would provide that, in connection with adopting regulations, the CFPB could collect such information and data that it determines is necessary and must consult with state and local governments and bond-issuing authorities.

Protecting Veterans From Predatory Lending. The Act provides that unless a lender refinancing a mortgage loan to a veteran provides the veteran with a net tangible benefit test and satisfies certain other conditions, the loan is not eligible for a VA guaranty or insurance. The requirements do not apply to cash-out refinancings.

Credit Scores. The Act establishes a validation and approval process for the use of credit scoring models by Fannie Mae and Freddie Mac.

Tailoring Regulation for Certain Bank Holding Companies

Enhanced Supervision and Prudential Standards for Certain Bank Holding Companies. The Act raises the assets threshold for systemically important banks subject to enhanced prudential standards from $50 billion to $250 billion. This amendment takes effect upon enactment for institutions with less than $100 billion in total consolidated assets, and 18 months after enactment for all other institutions. The increased threshold will reduce the number of institutions subject to enhanced standards.

The Act decreases—from three to two—the number of scenarios that must be included in both Federal Reserve-conducted and company-conducted stress tests. The Act also changes the frequency for company-conducted tests for all non-bank financial companies supervised by the Federal Reserve and bank holding companies with more than $250 billion in total assets, from annual to periodic, and for all federally regulated financial companies with more than $10 billion in total assets from annual to periodic. The Act requires the Federal Reserve's Board of Governors to, on a periodic basis, conduct supervisory stress tests of bank holding companies with total consolidated assets equal to or greater than $100 billion and total consolidated assets of less than $250 billion.

Treatment of Certain Municipal Obligations. The Act requires the federal banking agencies to treat liquid, readily-marketable, and investment grade municipal obligations as high-quality level 2B liquid assets for purposes of the final rule, titled "Liquidity Coverage Ratio: Treatment of U.S. Municipal Securities as High-Quality Liquid Assets."

Protections for Student Borrowers

Automatic default prohibition. The Act amends TILA to prohibit a creditor from declaring a default on or accelerating a private student loan solely based on the death or bankruptcy of a cosigner, and requires a holder of a private student loan to release a cosigner when notified of the student obligor's death. The term "cosigner" is defined to mean any individual who is liable for someone else's obligation without compensation regardless of how such individual is designated in the contract for that obligation (but does not include an individual who is liable for a private student loan made to consolidate pre-existing student loans), and any person whose signature is requested as a condition of granting credit or forbearing on collection. The spouse of an individual who is deemed a cosigner because he or she is liable for someone else's obligation without compensation is not deemed a cosigner if the spouse's signature "is needed to perfect the security interest in a loan." The TILA amendments will apply to private student loan agreements entered into on or after 180 days after the date on which President Trump signs the Act.

Reporting of student loans. The Act amends the FCRA to allow a consumer to request a financial institution to remove from a consumer report a default that has been reported on a private student loan if the financial institution offered a loan-rehabilitation program that includes a requirement for the consumer to make consecutive on-time monthly payments in a number that demonstrates, in the financial institution's assessment, a renewed ability and willingness to repay the loan, and the borrower satisfied the program requirements. A financial institution that is supervised by a federal banking agency must seek written approval of the rehabilitation program's terms and conditions from its supervisory agency. A consumer can avail himself or herself of the benefits available under this provision only one time per loan.

Teaching financial literacy. The Financial Literacy and Education Improvement Act (part of the Fair and Accurate Credit Transactions Act of 2003), is amended to require the Federal Education and Literacy Commission to establish best practices for methods to be used by higher education institutions to teach financial literacy skills and provide "useful and necessary information" to assist students when making student loan decisions.


Written by:

Ballard Spahr LLP

Ballard Spahr LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide

JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at:

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit
  • New Relic - For more information on New Relic cookies, please visit
  • Google Analytics - For more information on Google Analytics cookies, visit To opt-out of being tracked by Google Analytics across all websites visit This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at:

- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.