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The Federal Reserve’s Novel Activities Supervision Program: What Banks and Nonbanks Need to Know
Financial technology firms and certain banks and bank holding companies can expect to face increased scrutiny as the Board of Governors of the Federal Reserve System takes another step to stem risks related to crypto-assets, use of blockchain technology, and complex fintech partnerships with nonbanks to deliver financial services to customers……By: Perkins Coie
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Tenth Circuit Rules ERISA Preempts Oklahoma PBM-Reform Law
In a win for self-funded (i.e., self-insured) health plans subject to the Employee Retirement Income Security Act of 1974, as amended (ERISA), the Tenth Circuit recently ruled that ERISA preempts provisions of an Oklahoma law regulating pharmacy benefit managers (PBMs) and pharmacy networks. The states in the Tenth Circuit are: Colorado, Kansas, New Mexico, Oklahoma,…
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How Much Do Large Language Models Like GPT Cost?
Using the right LLM for the job will save you money! We recently wrote an article about Using Multi-LLM Systems for Investigations and Ediscovery: Fast, Flexible and Cost-Effective. One of the reasons we chose this path is because different large language models, e.g. GPT and Claude are better for different purposes. As we pointed out,…
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Are you properly protecting your employees’ personal information?
If they have not already, employers should take steps now to properly protect the personal information of their employees. The Eleventh Circuit Court of Appeals’ decision in Ramirez v. Paradies Shops, LLC clarifies that employers have a special relationship with their employees and as such owe a duty to their employees to protect the personal…
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UK and AI: The United Kingdom’s Approach to Artificial Intelligence Regulation
On the heels of the United Kingdom (UK) announcing its first global summit on artificial intelligence (AI) safety, British Prime Minister Rishi Sunak predicted that London could be the future epicenter of AI regulation. The announcements come as the UK and US have declared a stronger collaboration to tackle AI-related challenges….By: Benesch
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Courts Are Citing the Rule 702 Amendments – And Litigants Should, Too
Though the pending amendments to Federal Rule of Evidence 702 have not taken effect officially yet, courts already have begun to cite them. Early signs indicate the potential that, consistent with the comments by the Advisory Committee on Evidence Rules, district courts will be asked to conduct more consistently rigorous gatekeeping for expert opinions offered…
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Hospital Sisters Health System Confirms “Temporary System Outage,” Raising Concerns of Possible Data Breach
On August 27, 2023, Hospital Sisters Health System (“HSHS”) and Prevea Health began experiencing a “temporary system outage,” according to a notice on Prevea Health’s website. HSHS, which owns a 50% interest in Prevea Health, has not yet confirmed any unauthorized access, let alone compromised patient information. However, HSHS and Prevea indicated they will provide…
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VNS Health Confirms Data Breach at TMG Health Resulted in Data of 103,775 Consumers Being Leaked
On August 14, 2023, VNS Health (“VNS”) filed a notice of data breach with the U.S. Department of Health and Human Services Office for Civil Rights after discovering that TMG Health, a third-party vendor of VNS, experienced a data breach affecting information that VNS provided to the vendor. In this notice, VNS explains that the…
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Blue Cross Blue Shield of Arizona Confirms Data Breach at TMG Health Affected Over 47k AZ Blue Customers
On August 17, 2023, Blue Cross Blue Shield of Arizona (“AZ Blue”) filed a notice with the U.S. Department of Health and Human Services Office for Civil Rights after discovering that TMG Health, one of the vendors used by AZ Blue, experienced a data breach affecting AZ Blue customer data. In this notice, AZ Blue…
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Chevron Federal Credit Union Files Notice of Data Breach Affecting Over 90k Consumers
On August 24, 2023, Chevron Federal Credit Union (“CFCU”) filed a notice of data breach with the Attorney General of Maine after discovering that MOVEit, a file-sharing application used by CFCU, contained a critical vulnerability. In this notice, CFCU explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information,…