Yesterday, the Senate Homeland Security and Government Affairs Committee’s subcommittee on Oversight of Government Management held a hearing to consider updates to the Privacy Act of 1974.  The Privacy Act of 1974 governs federal government agencies’ collection, use, and transfer of individuals’ personal information.  In general, the Act limits federal agencies’ disclosure of such information from agencies’ systems of record, subject to several exceptions for law enforcement and other purposes, and requires agencies to follow fair information practices in collecting and maintaining personal information.  As previously reported in this blog, Subcommittee Chairman Daniel Akaka (D-Hawaii) has sponsored a bill (S. 1732) amending the Act that would, among other requirements, generally enhance data security requirements and impose notification requirements in connection with data security breaches. 

The hearing witnesses were Mary Ellen Callahan, Chief Privacy Officer, U.S. Department of Homeland Security; Greg Long, Executive Director, Federal Retirement Thrift Investment Board; Greg Wilshusen, Director – Information Security Issues, U.S. Government Accountability Office; Peter Swire, Professor of Law, Ohio State University; Chris Calabrese, Legislative Counsel, American Civil Liberties Union; and Paul Rosenzweig, Visiting Fellow, The Heritage Foundation.  The panelists generally supported legislation that would update the 1974 Privacy Act and referred to GAO studies concluding that updates to the Act are required to address loopholes created by changes and advances in technology.

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Photo of Mike Nonaka Mike Nonaka

Michael Nonaka is co-chair of the Financial Services Group and advises banks, financial services providers, fintech companies, and commercial companies on a broad range of compliance, enforcement, transactional, and legislative matters.

He specializes in providing advice relating to federal and state licensing and…

Michael Nonaka is co-chair of the Financial Services Group and advises banks, financial services providers, fintech companies, and commercial companies on a broad range of compliance, enforcement, transactional, and legislative matters.

He specializes in providing advice relating to federal and state licensing and applications matters for banks and other financial institutions, the development of partnerships and platforms to provide innovative financial products and services, and a broad range of compliance areas such as anti-money laundering, financial privacy, cybersecurity, and consumer protection. He also works closely with banks and their directors and senior leadership teams on sensitive supervisory and strategic matters.

Mike plays an active role in the firm’s Fintech Initiative and works with a number of banks, lending companies, money transmitters, payments firms, technology companies, and service providers on innovative technologies such as bitcoin and other cryptocurrencies, blockchain, big data, cloud computing, same day payments, and online lending. He has assisted numerous banks and fintech companies with the launch of innovative deposit and loan products, technology services, and cryptocurrency-related products and services.

Mike has advised a number of clients on compliance with TILA, ECOA, TISA, HMDA, FCRA, EFTA, GLBA, FDCPA, CRA, BSA, USA PATRIOT Act, FTC Act, Reg. K, Reg. O, Reg. W, Reg. Y, state money transmitter laws, state licensed lender laws, state unclaimed property laws, state prepaid access laws, and other federal and state laws and regulations.