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Data privacy

FHA updating default reporting with new tax, insurance data

Cyber security, Data privacy, Servicing, Technology /

The Federal Housing Administration, which insures a large number of loans in the U.S. market, will be instituting a new digital file format for distressed mortgages that will add several reporting elements related to taxes and insurance. The new electronic-data interchange file for default reporting also addresses data privacy by removing 24 elements that are […]

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Fintechs want Congress to preempt state privacy laws

Fintechs want Congress to preempt state privacy laws

Data privacy, Politics and policy, Regulation and compliance /

Bloomberg News Financial technology companies want lawmakers to preempt state privacy laws by amending the Gramm-Leach-Bliley Act, which prohibits the disclosure of information to any third party unless the consumer is provided notice and an opportunity to opt out.  On Tuesday, the American Fintech Council sent a comment letter to the House Financial Services Committee

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