Guidance | Judiciary.org

Supreme Court

Little guidance from court on New York interest requirement on national bank escrow accounts

Justice Brett Kavanaugh’s opinion for a unanimous court Thursday in Cantero v. Bank of America will not be one for the casebooks or treatises, as it says almost nothing about how the lower court is supposed to reconcile provisions of the National Bank Act that protect national banks with a New York statute requiring all banks (including national banks) to pay interest on the escrow accounts they hold for their mortgage customers.

The difficulty arises because amendments to the … Read the rest

Civil Law

For Limited Use Only: Guidance on National Security Delay Determinations under the SEC Cyber Reporting Rule

On December 12, 2023, the Department of Justice (“DOJ”) issued guidance related to the process by which companies may request the United States Attorney General authorize delays of cyber incident disclosures, pursuant to a new Securities and Exchange Commission (“SEC”) rule. As a reminder, the SEC rule (which went into effect on Dec. 18, 2023) requires companies to disclose material cyber incidents via Form 8-K within four days of making a materiality determination. Our colleagues previously discussed the SEC rule … Read the rest

Civil Law

FTC Releases New Health Breach Notification Rule Guidance, Targets Health Apps and Connected Devices

In a new post on the Covington Digital Health blog, our colleagues discuss recently announced Federal Trade Commission (“FTC”) guidance meant to help companies determine their obligations under the Health Breach Notification Rule (the “Rule”). The guidance follows the FTC’s September 2021 Policy Statement, which expanded the Rule’s application to the developers of health apps, connected devices, and similar products, and similarly emphasize the FTC’s continued scrutiny of health technology. The post walks through the new guidance documents, which, notably, … Read the rest