Privacy

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On September 17th, the Consumer Bankers Association, the American Bankers Association, and a large number of other financial trade associations sent a letter to Speaker of the House Nancy Pelosi (D-CA), Majority Leader Kevin McCarthy (R-CA) and other House Members opposing a proposal under consideration as part of the budget reconciliation package that would require financial institutions and other providers of financial services to track and submit to the Internal Revenue Service (IRS) information on the inflows and outflows of every account above a de minimis threshold of $600 during the year, including breakdowns for cash.… Continue Reading

With a little over a year of enforcing the California Consumer Privacy Act (CCPA) under its belt, the Office of the California Attorney General (OAG) recently held a press conference to announce updates on its CCPA enforcement efforts and promote new tools relating to California consumers’ right to opt out of the sale of their personal information.… Continue Reading

Phil Yannella, Ballard Spahr litigation partner and Practice Leader of Ballard’s Privacy & Data Security Group, recently authored a treatise on data breach and privacy litigation.  The book, Cyber Litigation: Data Brach, Data Privacy & Digital Rights, is published by Thomson Reuters and is available now for purchase.  The publication of CyberLitigation comes at an important moment as the U.S.… Continue Reading

On December 18, 2020, the Office of the Comptroller of the Current (OCC), Federal Reserve Board (FRB), and Federal Deposit Insurance Corporation (FDIC) announced an interagency notice of proposed rulemaking that would require supervised banking organizations to provide notification of significant computer security incidents to their primary federal regulator.  Under the proposed rule, for incidents that could result in a banking organization’s inability to deliver services to a material portion of its customer base, jeopardize the viability of key operations of a banking organization, or impact the stability of the financial sector, the banking organization must notify its primary federal regulator no later than 36 hours after determining an incident has occurred. … Continue Reading

The California Attorney General’s Office recently released a fourth set of proposed regulatory modifications to the California Consumer Privacy Act (the “CCPA”).

As background, the Attorney General’s Office had only just recently given notice of a third set of modifications on October 12, 2020.  The third set of modifications revised the regulations relating to the notice of a consumer’s right to opt-out of the sale of their personal information. … Continue Reading

For our financial services clients interested in monitoring important federal and state legal developments, Ballard Spahr has launched a comprehensive, national tracking service designed to serve the needs of specific segments of the consumer financial services industry.

Beginning January 2, 2021, Ballard is pleased to offer three new federal and state trackers, which are available as a package or individually, depending on your financial institution’s needs:

  • Collections Tracker – providing expanded coverage of relevant federal and state legislative and regulatory developments impacting consumer collection activities; this will still include our current COVID-19-related coverage, but the tracker will be expanded to include new and evolving federal and state collection legislative and regulatory initiatives.
… Continue Reading

On November 4, 2020, California voters approved of the ballot initiative Proposition 24, more commonly known as the California Privacy Rights Act (the “CPRA”).  The CPRA goes into effect on January 1, 2023, and will expand several of the existing protections in the California Consumer Privacy Act (the “CCPA”).

As background, the original CCPA emerged in 2018 as a compromise between legislators and the advocacy group, Californians for Consumer Privacy, which had secured a ballot measure vote for its proposed privacy law. … Continue Reading

On August 14, 2020, the California Office of Administrative Law (“OAL”) approved in part and withdrew in part the Regulations regarding the California Consumer Privacy Act (“CCPA”).  While most of the changes are non-substantive, the OAL withdrew certain provisions of the Regulations and resubmitted them to the Attorney General’s Office for further review. … Continue Reading

In this podcast, we discuss the latest modifications to the proposed CCPA regulations with Lauren Valenzuela, Corporate Counsel for Performant Financial, a provider of technology-based solutions to assist debt recovery.  Our discussion covers topics relevant to the debt industry, including the potential impact for debt collectors and other service providers indirectly collecting consumer data; changes for processing household requests; availability of GLBA and other exemptions; issues for users of artificial intelligence; relationship of CCPA opt-outs and FDCPA cease and desist requests; areas needing more clarification.… Continue Reading