Data Privacy, FinTech, EU

Global Financial Innovation Network report on use of consumer-facing AI in global financial services

A&O Shearman on 2/7/2025

The Global Financial Innovation Network has published a report summarizing discussions led by the U.K. Financial Conduct Authority and the Dubai Financial Services Authority on the use of consumer-facing AI in global...more

DORA Takes Effect: Key Next Steps for Firms

Katten Muchin Rosenman LLP on 1/20/2025

After a two-year implementation period, the EU Digital Operational Resilience Act (DORA) takes effect on 17 January 2025. DORA is part of the EU’s Digital Finance Package and aims to strengthen the financial sector’s...more

The EU AI Act: What Businesses Need To Know

Skadden, Arps, Slate, Meagher & Flom LLP on 6/27/2024

The newly approved Artificial Intelligence Act (AI Act or the Act) aims to create a secure and trustworthy environment for the development and use of AI in the European Union....more

European Commission Proposes New Rules on Financial Data Access and Use

Wilson Sonsini Goodrich & Rosati on 7/7/2023

On June 28, 2023, the European Commission (EC) published a Proposal for a Regulation on Financial Data Access (FIDA). FIDA aims to create a framework through which data holders (e.g., banks, credit institutions) share the...more

Coalition of European Banks Calls for Model Cloud Services Terms

Morgan Lewis - Tech & Sourcing on 6/15/2021

The European Cloud User Coalition (ECUC) published a paper (the Position Paper) on May 17 recommending, among other matters, the adoption of “model clauses” for the long-term compliant use of cloud technologies....more

Consumer financial services: The road ahead: Payment processing

White & Case LLP on 3/15/2019

The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems....more