On October 27, the Federal Trade Commission (FTC) announced a final rule amending the Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act. The Safeguards Rule requires nonbanking financial institutions to develop, implement, and maintain a comprehensive information security program to keep their customers’ information safe. The amendment will require financial institutions to notify the FTC no later than 30 days after discovery of a security breach involving the information of 500 or more consumers. The amendment will go into effect 180 days after publication of the final rule in the Federal Register.
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On October 29, the Biden Administration issued a broad Executive Order (Order) on artificial intelligence (AI). Titled “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence,” the Order establishes guidelines for AI safety and security, aims to shield Americans’ data privacy, and emphasizes equity and civil rights. As stated by the White House in its Fact Sheet about the Order, the Order “stands up for consumers and workers” while fostering innovation and competition.
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CHICAGO, Ill. -- Harris & Harris (“H&H” or the “Company”), a leader in accounts receivable management and customer care solutions, announced today that it has made an organizational change. David Peters, who has successfully led the Company as Chief Operating Officer, will assume the role of Chief Executive Officer. Salvador (“Sal”) Hazday, the former Chief Executive Officer, notified the Board of Directors that he wished to resign for personal and professional reasons. The Company is thankful for Sal’s service and wishes him well in his future endeavors.
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