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On October 27, the Federal Trade Commission (“FTC”) unanimously voted to amend the Safeguards Rule to require non-banking financial institutions to report data breaches and security events to the Agency. This amendment will become effective 180 days after its publication in the Federal Register.

Under the amended rule, financial institutions subject to the authority of

On October 19, 2023, the Consumer Financial Protection Board (“CFPB”) released a proposed rule that, if enacted, would grant consumers greater access rights to the data their financial institutions hold. Under the proposed Personal Financial Data Rights Rule (the “Proposed Rule”), bank customers nationwide would have privacy rights similar to what is afforded under the

The California Privacy Protection Agency (CPPA) recently published two new sets of draft regulations addressing a range of cutting-edge data protection issues. Although the Agency has not officially started the formal rulemaking process, the Draft Cybersecurity Audit Regulations and the Draft Risk Assessment Regulations will serve as the foundation for the process moving forward. Discussion

California continues to be at vanguard of data privacy rights.  The latest effort by California legislators to protect consumer privacy rights focuses on data brokers, who under the proposed California Senate Bill 362, aka the “Delete Act,” would be required to recognize and honor opt-out signals from Californians.  The law seeks to expand on

After an extensive comment period, the SEC announced on July 26 that it was formally adopting new rules for public companies governing cybersecurity disclosures. The rules had generated significant backlash from public companies, who criticized the new reporting deadlines for data security incidents as well as the mandatory cyber-risk disclosures the Rules mandate.

Adoption of

Shortly before the July Fourth holiday, the California Superior Court issued an important, but subtly complex ruling that pushes back the date when the California Privacy Protection Agency (CPPA) may begin enforcing the latest round of privacy regulations.  These regulations were finalized in March 2023 and enforce provisions of the California Privacy Rights Act (CPRA),

On April 24, the Governor of Kansas signed into law Kansas Senate Bill 44, which enacts the Financial Institutions Information Security Act (the “Act”). The Act requires credit services organizations, mortgage companies, supervised lenders, money transmitters, trust companies, and technology-enabled fiduciary financial institutions to comply with the requirements of the GLBA’s Safeguards Rule, as

Following recent Senate testimony in which OpenAI CEO Sam Altman proposed additional Congressional oversight for the development of artificial intelligence (AI), Colorado Senator Michael Bennet has re-introduced the Digital Platform Commission Act, a bill that would enable the creation of a federal agency to oversee the use of AI by digital platforms.  The proposed

In a ruling published May, 4, the Federal District Court of Idaho granted defendant data broker Kochava’s motion to dismiss a complaint filed by the Federal Trade Commission (“FTC”).  In its complaint, the FTC alleged that Kochava’s sale of precise consumer geolocation data constituted an unfair act or practice in violation of Section 5 of