How to Use New CSBS Cybersecurity Examination Tool

Any nonbank institution looking to protect against, mitigate and respond to cybersecurity threats should take advantage of the Conference of State Bank Supervisors’ (CSBS) new cybersecurity examination tool.  Unveiled during the Nationwide Multistate Licensing System Annual Conference in February, the resource is designed for state regulators to use during examinations, and for organizations to self-evaluate…
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Virginia Set to Enact Major Data Privacy Legislation

Of all the states currently in the process of enacting major privacy legislation, Virginia may be closest to the finish line. On February 5, the Senate of Virginia voted unanimously to approve the Consumer Data Protection Act (CDPA), with the House of Delegates voting 89-9 to approve an identical bill.  Minor amendments are expected after the…
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A Guide to New Draft SCCs–and the EDPB’s Response

Ever since the EU-US Privacy Shield was struck down in Schrems 2.o, companies have been scrambling to figure out how to safely transfer data in and out of the EU while remaining compliant with the General Data Protection Regulation (GDPR). At this point, the general consensus is that transfers from the EU should only be…
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Why Your Organization Should Implement “Privacy by Design”

 Privacy by Design (PBD) the idea that organizations should design every part of their operation with data privacy in mind was popularized by the European Union’s General Data Privacy Regulation (GDPR). Any products or services that call for the processing of personal data should account for privacy from their inception and every stage of development…
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A Guide to The New Brexit Trade Agreement

The long-awaited Brexit agreement is here. The EU-UK Trade and Cooperation Agreement, which details the conditions of the UK’s relationship with the EU, took provisional effect on January 1, 2021. The agreement’s free trade and security frameworks have many data privacy implications--here’s what you need to know. Not Many Changes…For Now  When Brexit was voted…
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Why Data Trusts Are a Win-Win for Companies and Consumers

Data is imperative to many crucial business processes, like marketing, product development, fraud protection, and AI. But complying with proliferating and conflicting data privacy regulations is far from easy. And asking consumers to be responsible for making decisions about their own data privacy isn’t a solid solution.  One AI expert has proposed a solution: data…
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Explaining the DOJ’s Enforcement Guidance for Cryptocurrency

While the cryptocurrency craze is far from new, there are many unanswered questions about how the industry should be regulated. To fill the gaps, the Department of Justice released a publication offering guidance for handling issues created by cryptocurrency. The framework examines what can be done to make sure crypto doesn’t threaten public safety or…
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OCC And Capitol One

OCC Fines Capital One: Key Takeaways

Last year, Capital One experienced one of the largest-ever data breaches of a bank, when a hacker–Paige Thompson–got her hands on the personal information of over 106 million customers and applicants via a misconfigured AWS server. Now, the Office of the Comptroller of the Currency (OCC) has hit the bank with a whopping $80 million…
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