Civil Law

CFPB Spring 2024 Supervisory Highlights looks at consumer reporting companies and furnishers

The CFPB has released the Spring 2024 edition of Supervisory Highlights.  The report discusses CFPB examinations in connection with credit reporting and furnishing that were completed from April 1, 2023 through December 31, 2023.

Key findings by CFPB examiners are described below.

Examinations of credit reporting companies (CRCs) found the following deficiencies:

  • CRCs failed to timely implement blocks of information after receiving the requisite information relating to an alleged identity theft, without otherwise making a reasonable determination with respect to
… 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

European Commission adopts the European Sustainability Reporting Standards

On 31 July 2023, the European Commission adopted the European Sustainability Reporting Standards (“ESRS“). EU and non-EU entities subject to the new EU Corporate Sustainability Reporting Directive (“CSRD“) will be required to report against the ESRS, making the development of interest to entities preparing for reporting under the CSRD regime.

Background

The CSRD, which entered into force on 5 January 2023, creates detailed sustainability reporting requirements and expands the number of EU and non-EU companies subject … Read the rest

Civil Law

Environmental Disclosures: CDP announces plastics to be added to Reporting Platform for first time

On April 19, 2023, the influential CDP (formerly known as the Carbon Disclosure Project) announced that nearly 7,000 organizations worldwide can disclose their plastic-related impacts for the first time, as CDP’s global environmental disclosure platform opens for 2023 reporting. CDP is adding plastic-related reporting to its online platform in response to a request from more than 740 investors with US$ 136 trillion in assets.

Last October, CDP reported that a record of around 20,000 organizations (over 18,700 companies representing over half of global market capitalization … Read the rest

Civil Law

Kentucky launches new food safety reporting website

This month, Kentucky Gov. Andy Beshear announced the launch of a new website where Kentuckians can easily report foodborne issues.

Before the website, foodborne illness was reported to the district or local health departments by phone. The new website allows for quick and easy reporting by consumers. It also allows state public health officials to get the necessary information more efficiently, enabling quicker action to prevent others from becoming sick.

“Protecting the health and safety of our Kentucky families is … Read the rest

Civil Law

FSN contributor honored for reporting

Writer Cookson Beecher has won two first place awards in the National Federation of Press Women (NFPW)’s annual contest for articles published by Food Safety News.

To win the first-place awards on the national level, she had to win first-place awards in the organization’s  At-Large division, which included about 20 different states.

One of the articles, “Agrivoltaics Scores Impressive Triple Win, but Some Food Safety Concerns Remain” deals with using solar panels to generate power for houses, barns or … Read the rest

Civil Law

Modern slavery reporting series: Part 3 – what can Australian businesses learn?

In Part 2 of our series, we set out our insights on what differentiates the few organisations who are noticeably leading the pack in their disclosure obligations under the Modern Slavery Act 2018 (Cth) (Act) – how they are going above and beyond the minimum requirements of the Act to understand their supply chains and the modern slavery risks within and taking measured steps to identify and mitigate these risks.

Key stakeholders such as investors, employees, customers and suppliers increasingly … Read the rest

Civil Law

Federal Financial Regulators Tighten Timelines for Reporting Ransomware Attacks

As anticipated, the Office of the Comptroller of the Currency, the Federal Reserve Board, and the FDIC recently approved and released the Final Rule Requiring Computer-Security Incident Notification (“Final Rule”).  The Final Rule is designed to promote early awareness and stop computer security incidents before they become systemic.  It places new reporting requirements on both U.S. banking organizations, as well as bank service providers.  We have blogged repeatedly on the pernicious issue of ransomware.

The Final Rule applies to “banking organizations”

… Read the rest