Cybersecurity has become one of the biggest risks facing the financial services industry, and there have been extensive guidance and initiatives from US banking regulators to help ensure the safety of the institutions and the banking system. Some of the more recent regulatory requirements and other developments will have a significant impact on nonbank financial

The California Privacy Protection Agency (“the Agency”) announced October 17, 2022, proposed modifications to the draft regulations for the California Privacy Rights Act (CPRA) that were published on July 8, 2022. The draft regulations expanded on the text of the CPRA setting out a number of additional requirements regarding obtaining consumer consent, supporting the exercise

An omnibus federal privacy bill with significant bipartisan support is currently under congressional review and, if enacted, could dramatically increase oversight of how companies use artificial intelligence (“AI”) in their businesses.

This article discusses the bill, which, even if not enacted, provides valuable insights as to potential future regulation of AI.

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There has been a whirlwind of activity over the past year as states enact and implement comprehensive consumer privacy laws. Starting with the passage of the California Consumer Privacy Act (CCPA) in 2018, which became effective in 2020, the US state privacy legal landscape has continued to develop rapidly. New comprehensive privacy frameworks are set

The California Privacy Rights Act (CPRA) will go into effect on January 1, 2023, even though the draft regulations remain unsettled, leaving companies questioning their ability to comply. In this talk with Jennifer Barrera of CalChamber, we’ll discuss some of the outstanding issues that will have impacts in the state, across the country, and, indeed,

On October 7, 2022, President Biden signed an Executive Order on Enhancing Safeguards for United States Signals Intelligence Activities,1 which is intended to implement U.S. commitments under the Trans-Atlantic Data Privacy Framework (DPF) announced in March 2022. With the new executive order, the Biden administration aims to strengthen the legal foundation for trans-Atlantic

On September 14, 2022, the US Office of Management and Budget (OMB) published a memorandum, M-22-18, requiring federal agencies to comply with previously announced guidelines for ensuring the integrity of third-party software on an agency’s information systems or that otherwise affects government information. Applicable to firmware, operating systems, applications, and application services (e.g., cloud-based

On September 15, 2022, President Biden issued an executive order (the “Order”) to provide further detail and expand on the factors that the Committee on Foreign Investment in the United States (“CFIUS”) uses to evaluate whether a foreign investment provides a risk to US national security. The Order1 is the first executive order to

On September 8, 2022, the Federal Trade Commission (FTC) held a virtual public forum on the agency’s release last month of an Advance Notice of Proposed Rulemaking (ANPR) to regulate the protection of consumers’ privacy and data security, which we covered in a prior Legal Update. In addition to allowing the public the opportunity

Online businesses that sell to California residents should take note of a recent enforcement action by the state’s attorney general (AG) signaling that adequate notice of sale must be provided in a business’s privacy policy, California residents’ opt-out requests must be honored, and, from the AG’s perspective, the use of third-party cookies for targeted advertising