News & Analysis as of

Data Security Gramm-Leach-Blilely Act

Osano

All About the Rhode Island Data Transparency and Privacy Protection Act (RIDTPPA)

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Starting January 1, 2026, businesses operating in Rhode Island will need to comply with the Rhode Island Data Transparency and Privacy Protection Act, a mouthful of a law abbreviated as RIDTPPA. (Not exactly catchy, is it?)...more

Troutman Pepper

Navigating Emerging Privacy Issues in Financial Services — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by privacy Partner Kim Phan and Rami Haddad, deputy general counsel at PRA Group. This episode delves into a range of emerging privacy issues impacting...more

Foley & Lardner LLP

Learn About Data Privacy and How to Navigate the Information Security Regulatory Landscape

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Insights for this month’s article are provided by ARDA members Gregory Szewczyk, partner at Ballard Spahr Practice Leader of the firm’s Privacy and Data Security Group, and Aaron Tantleff, partner in Foley & Lardner’s...more

Alston & Bird

Data Breach Notification Requirements Under the Safeguards Rule Now in Effect

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For years, the Gramm-Leach-Bliley Act (GLBA) has required financial institutions to maintain reasonable safeguards for consumer data, but has only had limited breach-reporting requirements. To the extent financial...more

Davis Wright Tremaine LLP

Land of 10,000 Data Lakes: Minnesota Consumer Data Privacy Act Signed Into Law

On May 25, 2024, Minnesota Governor Tim Walz signed the Minnesota Consumer Data Privacy Act (the "Act"), which takes effect on July 31, 2025, for most controllers and on July 31, 2029, for certain postsecondary educational...more

Akin Gump Strauss Hauer & Feld LLP

Kentucky Data Protection Act: What Businesses Need to Know

On April 4, 2024, Kentucky became the fifteenth state to enact a comprehensive data privacy law, with Governor Andy Beshear signing the Kentucky Consumer Data Protection Act (KCDPA) into law. The Kentucky law will go into...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

What Businesses Must Know About the New Federal Trade Commission Amendments on the Safeguards Rule

The recent Federal Trade Commission (FTC) amendment adds a new security breach reporting requirement to the Gramm–Leach–Bliley Act (GLBA) Safeguards Rule. The Safeguards Rule is a regulatory framework that mandates financial...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

Q&A: How Businesses Must Comply with New Kentucky and Nebraska Privacy Laws

Kentucky - On April 4, 2024, Kentucky joined the growing number of states to enact data privacy legislation, becoming the third state to do so in 2024 and the fifteenth state overall at the time of enactment....more

McGuireWoods LLP

Don’t Forget: It’s Time to Notify the FTC of Your Data Breach

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This summer, the Federal Trade Commission (“FTC”) will once again tighten the belt on entities that offer financial products and services when another round of amendments to the Gramm-Leach-Bliley Safeguards Rule goes into...more

WilmerHale

Year in Review: The Top 10 US Data Privacy Developments From 2023

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2023 marked a pivotal moment in US data privacy and cybersecurity, characterized by substantial regulatory and legislative advances at the international, federal, and state levels. The Federal Trade Commission (FTC) took a...more

Venable LLP

Data Breach Notice Requirement Added to Safeguards Rule for Non-bank Financial Institutions

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Non-bank financial institutions will have a new data breach disclosure requirement effective May 13, 2024. The Federal Trade Commission (FTC) recently updated the Gramm-Leach-Bliley Safeguards Rule (“Safeguards Rule”), adding...more

Constangy, Brooks, Smith & Prophete, LLP

Amendments would beef up Canada’s proposed Digital Charter Implementation Act

Amendments have recently been proposed to two of the three statutes to be enacted under Canada’s Bill C-27: The Digital Charter Implementation Act. The statutes that may be amended are the Consumer Privacy Protection Act and...more

Constangy, Brooks, Smith & Prophete, LLP

FTC Non-Banking Financial Institutions Safeguards Rule

The Federal Trade Commission has approved an amendment to the Safeguards Rule under the Gramm-Leach-Bliley Act that creates a new data privacy regulatory reporting requirement for non-banking financial entities. Covered...more

Jones Day

FTC Requires Non-Bank Financial Institutions to Report Data Security Breaches Under Amended Safeguards Rule

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On Friday, October 27, the Federal Trade Commission ("FTC") announced new amendments to the Safeguards Rule, requiring covered financial institutions to report certain data breaches to the FTC and reflecting its continuing...more

Jaburg Wilk

New FTC Rule Expands Reach of Data Breach Notification Requirement to Non-Banking Financial Institutions

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In an amendment to the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA), which was officially announced on October 27, 2023, the Federal Trade Commission (FTC) will mandate that a wide array of nonbank financial...more

Holland & Knight LLP

A New General Notice Requirement for Financial Institutions

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The Federal Trade Commission (FTC) on Oct. 27, 2023, announced further amendments to the Gramm-Leach-Bliley Safeguards Rule (Safeguards Rule). The Safeguards Rule became effective in 2003, requiring certain financial...more

Wilson Sonsini Goodrich & Rosati

FTC Amends Safeguard Rule with Requirement for Non-Banking Financial Institutions to Report Data Security Breaches

On October 27, 2023, the Federal Trade Commission (FTC) announced it is amending the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA) to include a requirement for non-bank financial institutions to report certain data...more

Troutman Pepper

FTC Amends Safeguards Rule to Require Reporting of Data Breaches

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On October 27, the Federal Trade Commission (FTC) announced a final rule amending the Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act. The Safeguards Rule requires nonbanking...more

Alston & Bird

FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions

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On October 27, 2023, the FTC approved an amendment to the Safeguards Rule (the “Amendment”) requiring that non-banking financial institutions notify the FTC in the event of a defined “Notification Event” where customer...more

Kelley Drye & Warren LLP

Safeguards Snafu? The Anomalous New Provision in the FTC’s Gramm-Leach-Bliley Safeguards Rule

Last week, the FTC announced that it had finalized its rulemaking to add data breach notification provisions to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule. As expected, the new provisions require non-bank financial...more

Husch Blackwell LLP

Federal Trade Commission Amends GLBA’s Safeguards Rule

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Key Point: The Federal Trade Commission (FTC) has amended the Safeguards Rule to require non-banking financial institutions to inform the FTC within 30 days of discovering any unauthorized acquisition of unencrypted customer...more

Dechert LLP

Dechert Cyber Bits - Issue 41

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FTC Finalizes Settlement with 1Health.io For Allegations It Failed to Protect Customers’ DNA Data - On September 6, 2023, the Federal Trade Commission’s agreement with the genetic testing firm 1Health.io Inc. – formerly...more

Miller & Martin PLLC

Steering Through Privacy: State Law Variation Affecting Auto Dealers

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Automotive dealers and their service providers should take note of an important key difference between the California Consumer Privacy Act (CCPA) and other recent state privacy laws designed to protect consumer information....more

White & Case LLP

Tennessee Passes Comprehensive Data Privacy Law

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On May 11, 2023, Governor Bill Lee signed the Tennessee Information Protection Act (TIPA) into law. Tennessee now joins the rapidly increasing group of states, California, Utah, Colorado, Connecticut, Virginia, Iowa and...more

BakerHostetler

Update on GLBA Safeguards Rule in Higher Education

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On February 9, 2023, the Department of Education Office of Federal Student Aid (“FSA”) issued an electronic notice regarding the Federal Trade Commission’s Final Rule amending the Standards for Safeguarding Customer...more

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