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Elizabeth E. McGinn Authored a Westlaw Journal Article, "Data Security Breach Litigation Post-Spokeo"
California enacted the nation’s first data security breach notification law 15 years ago. Following a few high-profile incidents in 2005, other states rapidly began enacting breach-notice requirements based largely on the California model. This proliferation of laws — and the constant news of...
ArticlesWarren W. Traiger Authored an American Banker Article, "Regulators' Silence on New HMDA Rule is Deafening"
As banks prepare to comply with a Consumer Financial Protection Bureau rule adding new reporting requirements under the Home Mortgage Disclosure Act, much attention has been paid to how expanded data points such as “interest rate” and “credit score” will affect fair-lending compliance. But the...
ArticlesJeremiah S. Buckley Authored an American Banker Article, "Secretary Mnuchin's Challenge: Rethink Consumer Finance"
Our nation's consumer finance laws, enacted nearly 50 years ago, are outdated. Reams of disclosures go unread and billions are spent by banks to comply with hypertechnical regulations. Perhaps more worrisome, the silent premise underlying many of these laws is that the key to assuring consumer...
ArticlesMortgage Compliance Magazine - NFIP Reauthorization and Reform: Are More Changes Coming to Lenders' Flood Insurance Requirements
The National Flood Insurance Program (NFIP or the Program) will expire on September 17, 2017, unless it is timely reauthorized. Because the Program is $23 billion in debt, there is significant speculation regarding whether and how Congress may restructure the Program this year. Changes to the NFIP...
Articles"How Clayton’s SEC is likely to view the FCPA" by Daniel R. Alonso (The FCPA Blog)
In the days following President-elect Donald Trump’s announcement of his intention to nominate Sullivan & Cromwell partner Jay Clayton as Chair of the Securities and Exchange Commission, countless observers have opined on how the SEC’s priorities may change in the upcoming administration. One...
Articles"What does it mean to be a monitor?" by Daniel R. Alonso (Compliance & Enforcement)
In a post on this site last fall, Prof. Veronica Root asked “What Does It Mean to be a Monitor?” The point of her piece was to explain how the term “monitor” describes a number of activities and assignments that can be quite different from one another. Prof. Root’s post faithfully described...
ArticlesA Quick Guide to Depositions in Japan
You have a case involving a witness in Japan. Maybe the witness is a corporate custodian, or a key executive of a party. For whatever reason — a witness’s inability to travel, discovery rules, or simple agreement of the parties — the witness is going to be deposed in Japan. Now what? Based on our...
ArticlesBehavioral Science for Incentive Compensation Reviews
Recent attention in Congress on retail incentive compensation, goal-setting and cross-selling of consumer financial products and services is remarkable for its ferocity and its direction at banks and regulators alike. During a Sept. 20, 2016, Senate Committee on Banking, Housing and Urban Affairs...
ArticlesValidating the Validation Set
Predictive coding is becoming increasingly prevalent in fulfilling discovery obligations in litigation and in response to regulatory inquiries. As the process gains acceptance, parties, regulators and courts debate whether producing parties should be required to disclose documents and coding...
ArticlesGuarding Against Privilege Waiver in Federal Investigations
It has been well over a year since Judge Andrew Peck gently excoriated the legal community for underusing the not-so-new privilege waiver protections of Federal Rule of Evidence 502(d). He has fondly referred to it as the “Get Out of Jail Free Card” and offered that “it is akin to malpractice not...
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