In tandem with the Commerce Department’s Bureau of Industry and Security, the Biden administration issued a new rule on export controls of domestically produced artificial intelligence chips.
Technology
Posted inData Privacy
New CFPB payment privacy rule on the way for gaming companies, Big Tech
The Consumer Financial Protection Bureau has issued a proposed rule aimed at protecting the privacy of the public when using novel digital payment systems, such as those offered by large technology platforms and video gaming companies.
Posted inRegulatory Enforcement
Experian failed to correct flawed financial data about consumers, CFPB complaint alleges
Experian, the credit reporting giant, let compliance slide when it came to addressing consumer complaints about incorrect data, the Consumer Financial Protection Bureau said in a lawsuit against the credit agency.
Posted inEthics & Culture
Google’s fate under Trump could be a sign of antitrust battles to come in 2025
As Donald Trump begins his transition to become president, there are questions about the fate of tech companies, as well as regulators from multiple administrations. Google in particular is fighting a high-profile antitrust ruling after an investigation started by Trump in 2020 could be resolved in his next administration.
Posted inEthics & Culture
Data analytics in compliance: Time to get started, or expand, in 2025
Launching or expanding a corporate data analytics program for compliance can seem like a daunting task, but it is one worth adding to your to-do list in 2025.
Posted inData Privacy
Top 5 risks for 2025: U.S. uncertainty, global trade war, digital attacks
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
Posted inRegulatory Enforcement
Rytr agrees to halt fake AI review service in settlement with FTC
Purported “testimonial and review” service Rytr agreed to stop selling its program that used artificial intelligence to create fake content as part of a consent order with the Federal Trade Commission.
Posted inRegulatory Enforcement
CFPB sues big banks behind money transfer app Zelle over lax oversight, fraud
JPMorgan Chase, Wells Fargo Bank, Bank of America, and the company behind online money transfer app Zelle were sued by the Consumer Financial Protection Bureau for allegedly failing to safeguard Zelle’s network and causing customers to lose $870 million, the CFPB alleged.
Posted inEurope
EU AI Act next GDPR? Proof in the pudding as boardrooms prioritize data governance
Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
Posted inEurope
’Future-proofing’ products for safety next level of regulation under EU GPSR
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.