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Last week, a coalition of over sixty trade associations and businesses representing almost every business sector authored a joint letter to the California Attorney General requesting that the Attorney General defer enforcement of the CCPA in light of the COVID-19 pandemic.  Although the CCPA has been in effect since January 1, 2020, the Attorney General is not set to commence enforcement actions under CCPA until July 1, 2020.  The basis for the request to defer enforcement of the CCPA centered on two grounds: (1) the significant challenges associated with implementing compliance with a new law when the majority of businesses are either closed or operating remotely and (2) the lack of final regulations providing critical guidance about interpreting the CCPA from the Attorney General. …
Continue Reading CCPA: July 1, 2020 Attorney General Enforcement Start Date Looms Despite COVID-19

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We regularly work with financial institutions to navigate the challenges of implementing, maintaining, and using security procedures for commercial customers’ use of treasury management services. Security procedures are an integral part of the relationship between the financial institution and its commercial customers. Financial institutions offer (and frequently require) commercial customers to use the institution’s security procedures, which are agreed to be commercially reasonable, to originate payment orders (e.g., wire transfers and ACH Entries) from the customers’ accounts.

Issues often arise when one or more of a customer’s authorized users is not able to use his standard security procedures to access a financial institution’s physical or electronic payments systems to either originate or confirm a payment order. Due to the COVID-19 outbreak and concern over the implementation of preventative measures, including more companies asking or requiring employees to work remotely, financial institutions should consider which customers may need to update, amend or supplement the ways that its customers can make payments, whether this be through adding authorized users or implementing alternative methods to send payment orders. …
Continue Reading Considerations for Financial Institutions Regarding Security Procedures for a Remote Workforce