Dorothy Giobbe

Jan 15, 2025 | jdsupra.com | Dorothy Giobbe

What Happened? Last week the CFPB issued an Order recognizing the Financial Data Exchange, Inc. (“FDX”) as the first standard setting body (“SSO”) under the CFPB’s Personal Financial Data Rights Rule (the “Rule”). The Rule requires financial institutions, credit card issuers, and other financial providers (“Subject Entities”) to make available consumers’ financial data and transfer it to third parties, at the consumer’s request, for no charge.

Sep 17, 2024 | jdsupra.com | Dorothy Giobbe

What Happened? As Alston & Bird’s Securities Litigation Group reported, the number of securities class actions based on AI-related allegations is rising.  With six new filings in the first half of 2024 and at least five more identified by the authors since, a new trend of AI lawsuits has emerged. This trajectory is likely to continue alongside increased AI-related research and development spending in the coming years. Why Is It Important?

Aug 29, 2024 | jdsupra.com | Dorothy Giobbe

What Happened? On August 12, the Consumer Financial Protection Bureau (CFPB) submitted a comment letter in response to a Treasury Department Request for Information on the use of AI in financial services. Why Is It Important?

Oct 19, 2023 | jdsupra.com | Nathan S. Brownback |Dorothy Giobbe

In Short:The Situation: The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the "Agencies") have proposed rules requiring certain large banks and their holding companies to issue long-term debt ("LTD") and to comply with other associated requirements.

Oct 18, 2023 | mondaq.com | Nathan S. Brownback |Dorothy Giobbe |Dan Moss

The Situation: The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the "Agencies") have proposed rules requiring certain large banks and their holding companies to issue long-term debt ("LTD") and to comply with other associated requirements.