The first quarter of 2024 begins with two new data privacy laws going into effect – the Utah Consumer Privacy Act and Oregon’s data broker registration law. Utah The Utah Consumer Privacy Act (UCPA) (which actually went into effect on December 31, 2023), applies to controllers or processors that (1) […]
Technology & Intellectual Property Update
New Year, New Copyrights
On January 3, the U.S. Copyright Office (the “Office”) published a notice of proposed rulemaking in the Federal Register related to a potential new registration option for frequently updated news websites. The notice of proposed rulemaking comes in response to the increasingly popular digital medium for news providers as compared […]
CFPB Proposes Rule on Overdraft Services Offered by Large Banks and Credit Unions
On January 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a long awaited rule that, if adopted, will significantly impact how overdraft services are offered by (large) banks and credit unions today. The proposal requires large financial institutions – banks and credit unions with more than $10 billion in […]
SEC New Cybersecurity Rules; FBI Issues Guidance on Requesting Delays for Reporting Cybersecurity Issues
The Securities and Exchange Commission (“SEC”) adopted new regulations this year that took effect September 5, 2023, and require disclosure of a “material” cyber-attack in all annual reports beginning December 15, 2023, and in all 8-K’s starting December 18, 2023.[1] 8-K Rules: Disclosures, Materiality, and Timing The SEC now requires […]
CFPB Keeps its Sights on Fees in Latest Enforcement Action
On December 7, the Consumer Financial Protection Bureau (“CFPB”) announced that it was taking action against Atlantic Union Bank over practices the CFPB says misled consumers into enrolling in overdraft services without the proper disclosures. The end result of the action is a $1.2 million penalty owed by Atlantic Union […]