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Cybersecurity › GLBA Privacy › Financial Institutions

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Orrick, Herrington & Sutcliffe LLP

FTC’s Safeguards Rule notification requirement under GLBA now in effect

Orrick, Herrington & Sutcliffe LLP on

On May 14, the FTC published a business blog post announcing the Safeguards Rule, an amendment to the GLBA, is in effect as of May 13. The Safeguards Rule applies to financial institutions subject to the FTC’s jurisdiction...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 31: The Road Ahead for Financial Services Data Privacy Regulation

Orrick, Herrington & Sutcliffe LLP on

Orrick Partner Beth McGinn joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt for our second episode focused on the proposed American Privacy Rights Act and its potential impact on the financial services industry. Beth...more

Davis Wright Tremaine LLP

REMINDER: Compliance Deadline for FTC's GLBA Safeguards Rule Is Around the Corner

Davis Wright Tremaine LLP on

A reminder to non-bank financial institutions subject to the Gramm-Leach-Bliley Act (GLBA): the deadline to comply with the Federal Trade Commission's (FTC) revised Standards for Safeguarding Customer Information, commonly...more

Nelson Mullins Riley & Scarborough LLP

CFPB Scrutinizes Inadequate Data Protection Measures

Nelson Mullins Riley & Scarborough LLP on

The Consumer Financial Protection Bureau (“CFPB”) recently issued Consumer Financial Protection Circular 2022-04, confirming its increased focus on financial companies that violate federal consumer financial protection law...more

Bradley Arant Boult Cummings LLP

FTC Finalizes Updated Safeguards Rule Under GLBA to Dramatically Expand Data Security Requirements and Scope of Rule

Bradley Arant Boult Cummings LLP on

Until now, companies primarily regulated by the Federal Trade Commission (FTC) were given only vague directives to implement systems sufficient to safeguard customer data, coupled with FTC “recommendations” as to best...more

Mintz - Privacy & Cybersecurity Viewpoints

Vendor Management Fail: FTC Settles with Mortgage Analytics Company following Vendor Security Issues

Mintz - Privacy & Cybersecurity Viewpoints on

An oft-used business management concept is to “hire people smarter than you.” The concept also applies to hiring vendors – hire vendors that are better than you (especially when it comes to information security). ...more

WilmerHale

Federal Financial Regulators Propose Requiring Banks Report Cyber Incidents Within 36 Hours

WilmerHale on

On December 17, 2020, the Office of the Comptroller of the Currency, Treasury (OCC); the Federal Reserve; and the Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking that would require...more

Morrison & Foerster LLP

Risky Business: FTC Signals Departure From Risk-Based Approach, Proposing NYDFS-Like Security Requirements for the Safeguards Rule

Morrison & Foerster LLP on

With one eye on the New York Department of Financial Services (“NYDFS”) cybersecurity rules and the other on two of its own Commissioners who dissented, the Federal Trade Commission (“FTC”) has proposed a sweeping overhaul to...more

Sheppard Mullin Richter & Hampton LLP

New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape

Sheppard Mullin Richter & Hampton LLP on

In late December, New York State’s Department of Financial Services (“DFS”) released its revised proposed cybersecurity regulation (the “DFS Rule”). While the revisions pare back some of the DFS Rule’s original requirements...more

Locke Lord LLP

Top 10 Financial Institution Considerations for 2016: #3 – Cybersecurity

Locke Lord LLP on

In our initial article announcing our top 10 considerations for financial institutions in 2016, our third consideration was cybersecurity. Perhaps one of the biggest challenges facing financial instructions in the near future...more

Locke Lord LLP

GLBA Annual Privacy Notice Eliminated under Certain Circumstances: Buried in a Highway Bill!

Locke Lord LLP on

On December 4, 2015, President Obama signed the Highway Bill, dubbed Fixing America’s Surface Transportation Act (“FAST Act”), into law. Buried in the 490 page transportation law is a significant amendment to the...more

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