To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
State attorneys general (AGs) have increased their scrutiny of the use of artificial intelligence (AI), particularly in relation to data privacy laws, consumer protection statutes, and anti-discrimination laws. Our state AG team has issued a new white paper examining this trend, including a detailed look at the recent advisory opinion issued by the Massachusetts AG’s
On May 2, the U.S. Department of Housing and Urban Development (HUD) released two sets of guidance addressing the applicability of the Fair Housing Act (FHA) to two areas where, in the agency’s view, algorithmic processes and artificial intelligence (AI) pose particular concerns: tenant screening and advertising of housing opportunities through online platforms that use
North Carolina Attorney General Josh Stein led a bipartisan coalition of eight state AGs, including Arkansas, Indiana, Michigan, Missouri, North Dakota, Ohio, and Texas, in requesting the District Court in the Southern District of Texas to amplify measures against John Caldwell Spiller, a repeat offender of federal and state telemarketing and telephone privacy laws.
Kevin Petrasic and Matthew Bornfreund Enhance Firm’s Bank Regulatory Practice
WASHINGTON, D.C. – Kevin Petrasic and Matthew Bornfreund, two highly regarded financial services partners with a focus on bank regulation, have joined Troutman Pepper in Washington, D.C. Arriving from Davis Wright Tremaine, where they spearheaded the bank regulatory and financial institutions advisory practice, Petrasic and
In the latest episode of Regulatory Oversight, Troutman Pepper Partner Judy Jagdmann and Counsel Gene Fishel are joined by Sam Kaplan, assistant general counsel for public policy for Palo Alto Networks. They engage in an insightful conversation revolving around the government response to cyber incidents and the potential role of AI in combating cybersecurity threats.
On February 13, the Federal Trade Commission (FTC) released a blog post warning companies that it could be deemed an unfair or deceptive practice for a company to adopt more permissive data practices and to only inform consumers of such changes through retroactive amendments to its terms of service or privacy policy.
On February 6, a bipartisan group of 51 attorney general (AG) sent a warning letter to Life Corporation (Life Corp.) for allegedly engaging in an illegal robocall campaign that they claim was intended to deter New Hampshire voters from participating in the primary on January 23. The calls purportedly used artificial intelligence (AI) to impersonate
Editor’s Note: In recent regulatory and enforcement developments, the California Privacy Protection Agency (CPPA) proposed a regulatory framework for automated decision-making technology (ADMT) and revisions to the California Consumer Privacy Act (CCPA) regulations. The Federal Communications Commission (FCC) adopted rules to protect consumers from SIM-swapping scams and port-out fraud, and is investigating the impact of
In an era where privacy, security, and artificial intelligence are at the forefront of many business operations, staying informed about the latest developments is crucial. Our 2023 Privacy Year in Review is an in-depth analysis of the past year’s significant advancements and challenges in these areas.