Compliance – Baldwin Consulting Services, LLC

Have a SaaS Contract in Place? You May Need an AI Addendum | Harris Beach Murtha PLLC – JDSupra

Matt — Mon, 10 Feb 2025 17:43:55 +0000

By proactively addressing AI-related risks through clear contractual provisions in an AI addendum, companies can better leverage AI’s benefits while minimizing exposure to unforeseen legal and operational challenges.

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Bank of America hit with OCC order over BSA | Banking Dive

Matt — Fri, 03 Jan 2025 14:22:08 +0000

Bank of America must shore up its Bank Secrecy Act and sanctions compliance programs, according to a cease-and-desist order issued last week by the Office of the Comptroller of the Currency.

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New HIPAA Rules Mandate 72-Hour Data Restoration and Annual Compliance Audits

Matt — Mon, 30 Dec 2024 17:08:27 +0000

To that end, the proposal, among other things, requires organizations to conduct a review of the technology asset inventory and network map, identify potential vulnerabilities that could pose a threat to electronic information systems, and establish procedures to restore the loss of certain relevant electronic information systems and data within 72 hours.

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6 regulatory moves, people whose days are numbered under Trump | Banking Dive

Matt — Thu, 07 Nov 2024 12:24:27 +0000

Change is also expected to occur quickly: Trump’s transition team is more experienced and knowledgeable than that of his previous administration, said Peter Dugas, executive director of financial services consulting firm Capco, so Trump is likely to act swiftly to implement policy changes related to the Basel III endgame, mergers and acquisitions, artificial intelligence and ESG.

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BPI: FDIC Bank Merger Rules Will Have ‘Chilling Effect’

Matt — Sat, 02 Nov 2024 17:55:24 +0000

Writing in a Tuesday (Oct. 29) blog post on the organization’s website, Sarah Flowers, senior vice president and senior associate general counsel, regulatory affairs, said the FDIC’s Statement of Policy increases uncertainty in the regulatory environment by changing how the agency evaluates mergers.

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FinTechs Entering US Will Need Sponsor Banks, Says Thredd CEO

Matt — Fri, 25 Oct 2024 11:03:35 +0000

The decision to expand into the U.S. market involves more than renting office space and adding a U.S. address to your website. As Webster unpacked in her conversation with McCarthy, whose own company entered the U.S. in March, and Kieran Draper, CEO USA of payment processor and embedded finance provider B4B Payments, FinTechs that are looking to enter the U.S. need to prepare for stringent regulations, tough questions, tougher conversations and hopefully an outcome that makes it all worthwhile. McCarthy said there are five issues they should expect to reckon with.

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BaaS Faces Regulatory Reckoning With OCC and FDIC Actions

Matt — Fri, 25 Oct 2024 10:59:22 +0000

In an interview over the summer, Ingo Payments Chief Revenue Officer Lydia Inboden told PYMNTS that the BaaS industry might be going through a period of upheaval, but direct relationships enable a more thorough vetting of FinTechs to ensure satisfaction of anti-money laundering and other compliance programs.

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After cybersecurity lab wouldn’t use AV software, US accuses Georgia Tech of fraud | Ars Technica

Matt — Sun, 25 Aug 2024 13:37:00 +0000

Given the nature of his work for DoD, Antonakakis and his lab are required to abide by many sets of security rules, including those outlined in NIST Special Publication 800–171, “Protecting Controlled Unclassified Information in Nonfederal Information Systems and Organizations.”

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Liberty University fined $14 million by Dept. of Education over failure to comply with campus safety standards | Fox News

Matt — Thu, 07 Mar 2024 13:08:29 +0000

The ED announced on Tuesday via a press release that the office of Federal Student Aid fined LU as a result of a settlement agreement over “material and ongoing violations of the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act (Clery Act), including with respect to its published crime statistics and treatment of sexual assault survivors.”

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Be Ready For The Brussels Effect — It’s Coming To Data And AI

Matt — Thu, 08 Feb 2024 12:04:29 +0000

To stay ahead of the game, businesses should closely monitor sources like the EU council press releases and events held by organizations like the European Internet Forum and set alerts for the relevant acronyms in the news. The case for the GDPR demonstrating how the Brussels Effect affects data protection worldwide already hinted at their digital influence, and the data and AI-related regulations are bound to change the ways in which businesses operate online.

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