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Risk Management Gramm-Leach-Blilely Act

Ballard Spahr LLP

Treasury Issues Request for Information on Use of AI in Financial Services

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The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”).  Written comments are...more

Troutman Pepper

FTC Releases 2023 Privacy and Data Security Update

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On March 28, the Federal Trade Commission (FTC) released a Privacy and Data Security Update, highlighting the FTC’s activities in recent years through December 2023. The FTC underscored its work on issues related to...more

WilmerHale

NYDFS Finalizes Amendments to Cybersecurity Regulations

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On November 1, 2023, New York Department of Financial Services (NYDFS or the “Department”) released the finalized revisions (the “Second Amendment”) to 23 NYCRR Part 500 (Part 500) – the most significant modifications to Part...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

Bradley Arant Boult Cummings LLP

Complying With the FTC's Amended Safeguards Rule

Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several...more

Dechert LLP

SEC Proposes Robust Amendments to Regulation S-P

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At an open meeting on March 15, 2023, the U.S. Securities and Exchange Commission voted unanimously to propose rule amendments to Regulation S-P (Proposed Rule) and published an accompanying release (Release). The Proposed...more

Shutts & Bowen LLP

Changes to GLBA Safeguards Rule Affect More Than Traditional Financial Institutes

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The Gramm-Leach-Bliley Act (“GLBA”) was a bi-partisan regulation passed by Congress in 1999 in an attempt to update and modernize the financial industry. One component of the GLBA, its Safeguards Rule, requires financial...more

Ankura

Data Management Strategies for Banking and Financial Services Organizations

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Competent management of business information is a challenge for organizations across industries, but banking and financial services organizations face heightened information governance challenges that require dedicated...more

Lathrop GPM

Shields Up: Russian Cyberattacks Headed Our Way

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As we watch the televised Russian invasion of Ukraine with horrific destruction and casualties caused by missiles, tanks, and other conventional warfare the hostilities may seem far away and distant. As Russia continues to...more

Greenbaum, Rowe, Smith & Davis LLP

FTC’s Final Rule Expands the Safeguards Rule for Financial Institutions to Address Cybersecurity Risks and the Privacy of Consumer...

What You Should Know •The FTC has amended the Safeguards Rule for non-bank providers of financial products and services by issuing a Final Rule. •The updates are intended to enhance the security of consumer financial...more

Dechert LLP

Dechert Cyber Bits - Issue 2

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We are delighted to welcome you to the second issue of Dechert Cyber Bits, brought to you by members of our top-ranked, global Privacy & Cybersecurity practice. This second issue of Cyber Bits discusses key developments from...more

Davis Wright Tremaine LLP

FTC Strengthens GLBA Information Security Requirements

The Federal Trade Commission (FTC) recently announced significant new information security requirements for non-bank financial institutions subject to the Gramm-Leach-Bliley Act (GLBA). The new requirements are incorporated...more

Holland & Knight LLP

CFPB Proposes Settlement with Debt Collector for Failing to Investigate Identity Theft Reports

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With the ongoing COVID-19 pandemic, credit card companies may face increased scrutiny, as Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio recently stated that "credit reports play a huge role in...more

Jackson Lewis P.C.

Data Protection And The Role Of Vendor Management

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The SolarWinds hack highlights the critical need for organizations of all sizes to include cyber supply chain risk management as part of their information security program. It is also a reminder that privacy and security...more

Carlton Fields

Are You in Compliance With New York’s Newest Requirement to Develop, Maintain, and Implement Reasonable Safeguards to Protect New...

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The new data security requirements provision of New York’s Stop Hacks and Improve Electronic Data Security (SHIELD) Act went into full force as of March 21, 2020, and all people and businesses, regardless of the state in...more

Sands Anderson PC

New York’s New Data Security Requirements

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In the fall of last year, we wrote about the passage of the SHIELD Act (the Act) in New York, which expanded aspects of the state’s breach notification requirements (Breach Requirements) and created a statutory obligation to...more

Morgan Lewis

The CCPA and Similar State Laws – Considerations for Private Investment Funds

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Managers of private investment funds that collect personal information are required to comply with the landmark California Consumer Privacy Act – with some exemptions. ...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

Epstein Becker & Green

The New York State “Stop Hacks and Improve Electronic Data Security Act” (SHIELD Act) Becomes Effective March 21, 2020: Is Your...

Time is running out. The effective date of New York’s cybersecurity law mandating that organizations implement an information security program to protect “private information” of New York State residents, including employee...more

McDermott Will & Emery

CCPA and ‘Reasonable Security’: A Game Changer

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On January 1, 2020, the California Consumer Privacy Act of 2018 (CCPA) went into effect. The CCPA applies to a wide range of companies and broadly governs the collection, use and sale of personal information of California...more

Carlton Fields

Florida’s Legislature to Consider Consumer Data Privacy Bill Akin to California’s CCPA

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Florida lawmakers have proposed data privacy legislation that, if adopted, would impose significant new obligations on companies offering a website or online service to Florida residents, including allowing consumers to “opt...more

White and Williams LLP

Employers: New York’s SHIELD Act Imposes Data Security Requirements on Companies Outside of New York, Too

White and Williams LLP on

New York’s recently enacted Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) enhances data breach notification requirements and requires covered organizations to “develop, implement and maintain” a...more

BCLP

CCPA Security FAQs: Does the CCPA open insurance companies to increased litigation?

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Yes. The CCPA provides a partial exemption for information collected by financial institutions that are subject to the Gramm Leach Bliley Act (e.g., information about individuals who have obtained personal financial...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #201 – Capital One Suffers Massive Data Breach

Many readers have reached out to learn about the Capital One data breach and how it affects us. If you haven’t been watching the story unfold as closely as I have, here is a summary of what happened, what information was...more

Miles & Stockbridge P.C.

Biometric Data: Companies Should Act to Mitigate Risks in the Face of Growing Regulations and Increased Risk for Liability

There is a growing trend to regulate biometric data and severely punish companies that do not adequately protect this data. Every company that collects or uses biometric data should be careful to ensure compliance with...more

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