Data Security, Consumer Financial Protection Act (CFPA), Financial Institutions

Office of the Comptroller of the Currency Updates “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or...

Foley & Lardner LLP on 12/6/2024

Financial institutions that are regulated and supervised by the Office of the Comptroller of the Currency (OCC) should know that the OCC has recently updated its booklet on Unfair or Deceptive Acts or Practices (UDAP) and...more

The CFPB’s Final Rule on Personal Financial Data Rights: What Financial Institutions Should Know

Orrick, Herrington & Sutcliffe LLP on 10/28/2024

The Consumer Financial Protection Bureau (CFPB) has issued a final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA), which addresses personal financial data rights. The final rule mandates that...more

Overview of the CFPB's Proposed Open Banking Rule and Final Industry Standard Setting Rule

K&L Gates LLP on 6/21/2024

The financial services and banking industry landscape continues to evolve in the face of new and emerging technologies. This phenomenon is especially prevalent in the sharing of consumer data between financial institutions...more

Decoded - Technology Law Insights, Volume 3, Issue 17

Spilman Thomas & Battle, PLLC on 9/7/2022

CFPB Takes Action to Protect the Public from Shoddy Data Security Practices "The bureau said the circular does not suggest that particular security practices are specifically required under the Consumer Financial...more

RFI on Consumer Data Sharing Shows CFPB Interest in Data Aggregators

Davis Wright Tremaine LLP on 12/23/2016

The Consumer Financial Protection Bureau (CFPB or the “Bureau”) has recently expressed interest in how consumer financial information aggregators and financial services companies interact to share and protect financial data...more

Financial Services Report, Summer 2016

Morrison & Foerster LLP on 6/8/2016

BELTWAY - Every Last Penny Counts - Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more

First data security enforcement fine levied by CFPB against Dwolla Inc. for $100,000

Robinson+Cole Data Privacy + Security Insider on 3/4/2016

Wading into the foray of enforcement of data security practices, the Consumer Financial Protection Bureau (CFPB) yesterday hit Dwolla Inc., an online payment processor with a $100,000 fine for a myriad of violations of the...more

Data Security › Consumer Financial Protection Act (CFPA) › Financial Institutions