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Big Data NYDFS

McDermott Will & Emery

Awaiting Regulation of AI in Insurance

With the recent news that the Association of British Insurers (ABI) has called for new rules to reflect the increased use of AI and machine learning in the insurance industry, comes a reminder that there is still a...more

Troutman Pepper

New York Signals the Importance of Technology in Consumer Financial Protection

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The New York Department of Financial Services (NYDFS) recently surprised financial services’ compliance and legal professionals by announcing the creation of a “Consumer Protection and Financial Enforcement Division.”...more

Mitchell, Williams, Selig, Gates & Woodyard,...

BigData: Great Opportunities in the Face of Impending Regulations

To kick off the New Year, the New York Department of Financial Services (“DFS”) published Insurance Circular Letter No. 1 (2019) warning life insurers that use of external consumer data and information sources, commonly...more

Faegre Drinker Biddle & Reath LLP

The Federal Government Enters the Big Data Fray

As the spotlight brightens on the financial services industry’s use of data, Senate Banking, Housing, and Urban Affairs Committee Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH) officially began their work...more

Faegre Drinker Biddle & Reath LLP

New York Takes the Lead on Insurers’ Use of Big Data and Algorithms

Nature abhors a vacuum, and the New York Department of Financial Services filled a big one with Insurance Circular Letter No. 1 (2019), which was issued on January 18. The circular letter addresses the use of external...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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New York’s Department of Financial Services has reached an agreement with Deutsche Bank that will see the German firm pay $205 million as part of a settlement to resolve state banking law violations over its Forex operations....more

Mintz

NAIC Insurance Summit 2017: Innovation and Disruption Are Top of Mind for State Regulators

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From May 22-26 Mintz Levin participated in the annual NAIC Insurance Summit in Kansas City. A main theme of this year’s Summit was technology and innovation. The Summit was remarkable in that it served as a meeting grounds...more

Jones Day

Global Privacy & Cybersecurity Update Vol. 13

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On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

By volume, December wasn’t an incredible month for US jobs. But the report did help cap a year that saw average hourly earnings rise 2.9%—the best since 2009 and a “turning point for the overall economy,” according to one...more

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