News & Analysis as of

Gramm-Leach-Blilely Act GLBA Privacy

Schwabe, Williamson & Wyatt PC

Low-Budget, High-Impact Ways to Reduce Privacy and Cybersecurity Risks in 2025‎

Know What Laws Apply - Privacy and security laws, particularly in the U.S., have changed dramatically in the last few years. It’s not surprising many leaders are unsure which new laws or updated regulations apply to their...more

Husch Blackwell LLP

New York Legislature Passes Health Information Privacy Bill

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Last week, the New York legislature passed the New York Health Information Privacy Act (S 929) (the “Act”). If signed into law, the Act will add New York to the list of states that have enacted consumer health data-specific...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

BakerHostetler

The Peach State Takes a Bite at Privacy Law

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The Georgia Senate voted to pass the Georgia Consumer Privacy Protection Act (SB 473) on Feb. 27th. Although the bill is similar to many other comprehensive state privacy laws, there are some notable distinctions....more

Cozen O'Connor

New Privacy Laws in New Jersey and New Hampshire

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Comprehensive consumer privacy protections have arrived in the Garden State and appear to be coming soon to the Granite State. With Governor Phil Murphy's signing of Senate Bill 332 on January 17th, New Jersey became the...more

Skadden, Arps, Slate, Meagher & Flom LLP

California’s Data Deletion Law Imposes a Host of New Obligations on Data Brokers

On October 10, 2023, California Gov. Gavin Newsom signed into law Senate Bill 362, also known as the Delete Act, allowing California residents to have their personal information deleted by all registered data brokers...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 4, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 31, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...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

Paul Hastings LLP

Indiana Set to Become Seventh State to Enact Comprehensive Privacy Law

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State legislatures continue to take privacy matters into their own hands while talks of a federal privacy law linger. Indiana is set to become the seventh state to enact a comprehensive privacy law when Senate Bill No. 5 is...more

Nelson Mullins Riley & Scarborough LLP

CFPB Scrutinizes Inadequate Data Protection Measures

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

Orrick, Herrington & Sutcliffe LLP

What Fintech Companies Need to Know About GLBA and FCRA Exemptions Under State Data Protection Laws

The financial technology (“Fintech”) industry has boomed over the last decade, from the rise of mobile payment apps, robo-advisers, lending platforms, consumer-friendly brokerages to cryptocurrency trading platforms. By their...more

WilmerHale

Bill Proposed in Congress to Expand Privacy Obligations of Financial Institutions

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On June 23, 2022, Congressman Patrick McHenry (NC-10), released a discussion draft  (“Discussion Draft”) of new legislation set to amend the Gramm-Leach-Bliley Act (GLBA) with the intent to “modernize GLBA to better align...more

Oberheiden P.C.

5 Keys to Performing A GLBA Audit

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Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more

Oberheiden P.C.

Are You a Financial Institution? GLBA Law & Compliance

Oberheiden P.C. on

The Gramm-Leach-Bliley Act (GLBA) is a federal law that establishes various legal requirements for companies that qualify as “financial institutions” under the Act. The GLBA’s definition of a “financial institution” is...more

Hogan Lovells

New York State Expected to Increase Enforcement of Cybersecurity Practices

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Companies should take note of two imminent developments in New York in the area of cybersecurity regulation: enforcement of the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (Regulation) and the...more

Hudson Cook, LLP

The California Consumer Privacy Act

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The California Consumer Privacy Act of 2018 ("CCPA") was signed into law on June 28, 2018 and will take effect on January 1, 2020. The enforcement date - the first date on which the Attorney General may bring an enforcement...more

Lathrop GPM

The California Consumer Privacy Act Part 2: Does it Apply to My Business?

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As we explained in our last alert­­, California’s new comprehensive data privacy law is to take effect on January 1, 2020. For companies subject to this law, compliance will require a substantial investment of time, effort,...more

Baker Donelson

CFPB's New Final Rule Could Have Big Impact on Privacy Requirements

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The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

Baker Donelson

Financial Institutions: CFPB Finalizes Changes to Annual Privacy Notice Requirements

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The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

Ballard Spahr LLP

Treasury report promotes data aggregators in the consumer financial services ecosystem

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The U.S. Department of the Treasury’s recent report evaluating economic opportunities presented by nonbank financial institution and fintech company innovations includes a detailed account of current data aggregation...more

Ballard Spahr LLP

CFPB finalizes changes to GLBA annual privacy notice requirement

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The CFPB has issued a final rule amending the provisions of Regulation P that implement the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement.  The final rule is intended to reflect the GLBA amendments made by...more

Sheppard Mullin Richter & Hampton LLP

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

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

McGuireWoods LLP

CFPB Issues Proposed Revisions to GLBA Annual Privacy Notice Requirement

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Earlier this month, the Consumer Financial Services Bureau issued its proposed rule amending the Gramm-Leach-Bliley Act’s annual privacy notice requirement set forth in Regulation P....more

Troutman Pepper Locke

Top 10 Financial Institution Considerations for 2016: #4 – Data Security and Privacy

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In our initial article announcing our top 10 considerations for financial institutions in 2016, our fourth consideration was data security and privacy. While the recent focus has been on cybersecurity, it is important to...more

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