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California Raises the Bar on Data Security and Privacy ( September 2003 )
California has recently enacted two landmark pieces of consumer rights legislation, each of which creates new burdens for companies doing business with California residents. The first, Senate Bill No. 1386 ("SB 1386"), requires any company that stores customer data electronically to notify its California customers of a security breach to the company's computer system if the company knows or reasonably believes that unencrypted information about the customer has been stolen. The second, Senate Bill No. 1 ("SB 1"), commonly known as the California Financial Information Privacy Act, creates new limits on the ability of financial institutions to share nonpublic personal information about their clients with affiliates and third parties. -
New York Appellate Division Limits Bank Liability For Sharing Confidential Information ( June 2002 )
In <I>Smith v. Chase Manhattan Bank, USA, N.A., et al.</I>, 741 N.Y.S.2d 100 (N.Y. App. Div., 2d Dep't, April 15, 2002), the New York Appellate Division recently affirmed dismissal of a class action alleging that Chase Manhattan Bank USA, N.A. and its parent, Chase Manhattan Corporation (collectively, Chase) breached a written promise not to share confidential customer information with unrelated third parties. The decision limits and clarifies when, under New York law, a bank can be held liable for selling customer data. -
Technology, E-Commerce, and Banking: Business Implications of the USA Patriot Act ( September 2001 )
What price will business pay in the new fight against terrorism? Change has come to the world of technology, e-commerce and banking. On October 26, 2001, President George W. Bush signed into law the "United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism" - known as the "USA Patriot Act." -
The Gramm-Leach-Bliley Act: New Privacy Provisions Become Law ( January 2000 )
This article reviews the new provisions to the Gramm-Leach-Bliley Act as it relates to financial institutions and the duty of those institutions to maintain customer privacy. -
FTC Seeks to Expand Regulation of Financial Privacy ( February 2000 )
This alert reviews the FTC's proposed rules expanding the regulation of financial privacy. The proposed rule would regulate parties that are not financial institutions by limiting the transfer of nonpublic personal information received from financial institutions. -
Negotiating E-Finance Hazards ( March 1999 )
Financial services institutions have moved onto the Internet en masse, and the shift to electronic commerce (or, m.
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