Eric McLaughlin

Mr. McLaughlin is an associate in Davis Polk’s Financial Institutions Group. [Full Bio]

Firm/Organization: Davis Polk & Wardwell LLP

Latest Articles

Encouraging Innovation: Brokered Deposits—What Fintechs Need to Know to Partner with Banks under the FDIC’s Proposed Regulations

By John Banes, Luigi L. De Ghenghi, Randall D. Guynn, Jai R. Massari, Annette L. Nazareth, Gabriel D. Rosenberg, Margaret E. Tahyar, Christopher M. Paridon, Eric McLaughlin & Greg Swanson

January 16, 2020

In a step forward for the digital transformation of banking and partnerships between banks and FinTechs, the FDIC released proposed changes to its brokered deposit regulations in late December 2019. The proposed changes are designed to update the regulatory framework as much as possible within the constraints of the existing statute, Section 29 of the Federal Deposit Insurance Act. For an overview of the parts of the proposal that would widen opportunities for banks, FinTechs…

FinReg

Client Memorandum: FSOC Shift to an Activities-Based Approach Signals an Emphasis on the Risks to Financial Stability from Digital Transformation

By John Banes, Luigi L. De Ghenghi, Randall D. Guynn, Jai R. Massari, Annette L. Nazareth, Gabriel D. Rosenberg, Margaret E. Tahyar, Christopher M. Paridon, Eric McLaughlin & Greg Swanson

January 15, 2020

The Financial Stability Oversight Council’s (FSOC) recently revised guidelines (the 2019 Guidelines) on how it will identify and address financial stability risks are a major shift from the guidelines it issued in the immediate aftermath of the Financial Crisis. The 2019 Guidelines draw upon lessons learned from FSOC’s ultimately fruitless attempts to designate nonbank financial companies as systematically important. Instead, the 2019 Guidelines focus on identifying and regulating systemically important activities rather than entities, conducting…

FinReg

Davis Polk Comments on Federal Reserve’s Proposed Rule on Confidential Supervisory Information

By Margaret E. Tahyar, Randall D. Guynn & Eric McLaughlin

August 19, 2019

Navigating the outdated rules on confidential supervisory information has become increasingly difficult in the digital world because the rules have their origin in the paper-based world of 1967, when they were first enacted. In the meantime, the amount and type of information made available by the banking agencies to banking organizations, and vice versa, has increased by several orders of magnitude. We estimate that banking organizations send the Federal Reserve, just one of the banking…

FinReg

Public Memorandum | Federal Reserve’s Proposed Rule on Controlling Influence: A Step in the Right Direction

By Luigi L. De Ghenghi, Randall D. Guynn, Margaret E. Tahyar, Christopher M. Paridon, Eric McLaughlin, Dana E. Seesel & Tyler Senackerib

May 2, 2019

The Federal Reserve has requested comment on a highly anticipated notice of proposed rulemaking to amend its regulatory framework for deciding when a company exercises a controlling influence over another company under the Bank Holding Company Act and the Home Owners’ Loan Act. The proposal is a welcome step in the right direction. It would provide greater transparency, certainty and predictability, and relax some of the limits and restrictions in the Federal Reserve’s existing practices…

FinReg

Regulators and Plaintiffs Aren’t Waiting for Privacy Legislation: Companies Face Potential Liability Now and Can Take Steps to Reduce Risks

By Eric McLaughlin, Greg Swanson & Clara Y. Kim

April 29, 2019

Momentum is building in Congress for federal privacy legislation and several states have their own privacy laws in the works. But, as concerns grow that companies are collecting and sharing personal information about U.S. residents without their knowledge and not adequately protecting that data, regulators and plaintiffs aren’t waiting for new laws. Instead, they are refitting existing laws to meet their data privacy and security objectives. The SEC We have previously written on the SEC’s …

Cyber Blog

Regulators and Plaintiffs Aren’t Waiting for Privacy Legislation: Companies Face Potential Liability Now and Can Take Steps to Reduce Risks

By Avi Gesser, Eric McLaughlin, Greg Swanson & Clara Y. Kim

April 29, 2019

FinReg

Cyber Blog Post: The FTC Moves Toward a Rules-Based Approach to Cybersecurity Regulation for Financial Institutions

By Kelsey Clark, Jennifer E. Kerslake & Eric McLaughlin

April 8, 2019

In our first Cyber Blog post, we predicted that the rules-based approach adopted by the NYDFS would become the model for cybersecurity regulation. Two years later, we’re feeling pretty good about that prediction, as the FTC recently proposed incorporating a number of aspects of the NYDFS cybersecurity rules into its Standards for Safeguarding Customer Information rule (the “Safeguards Rule”). The proposal would also expand the Safeguards Rule’s definition of “financial institution” to include “finders,”…

Cyber Blog

The FTC Moves Toward a Rules-Based Approach to Cybersecurity Regulation for Financial Institutions

By Avi Gesser, Kelsey Clark, Jennifer E. Kerslake & Eric McLaughlin

April 8, 2019

Cyber Blog

Alternative Data Goes Mainstream, and Gets Increased Attention from Regulators

By Avi Gesser, Eric McLaughlin, Clara Y. Kim & Sumeet Sanjeev Shroff

February 25, 2019

In the last few years, we have seen a dramatic increase in the purchase and sale of alternative data—a shorthand for big data sets, such as satellite images of parking lots, drug approvals, credit card purchases, cellphone data on retail foot traffic, and construction permits. According to alternativedata.org, the alternative data industry is projected to be worth $350 million in 2020. The recent announcement by Bloomberg LP that it is offering a product that…

FinReg

The CFPB and the Rule of Law

By Randall D. Guynn, Margaret E. Tahyar & Eric McLaughlin

January 27, 2018

The Mulvaney Memo on the CFPB and the rule of law is one of the most remarkable documents to be published by an agency head in many years. It signals a deep commitment to the rule of law as a philosophical concept and as an important brake on agency discretion in the administrative state. The full memo is well worth a read. A shorter version appeared in the Wall Street Journal. Acting Director Mulvaney…

Eric McLaughlin

Encouraging Innovation: Brokered Deposits—What Fintechs Need to Know to Partner with Banks under the FDIC’s Proposed Regulations

Client Memorandum: FSOC Shift to an Activities-Based Approach Signals an Emphasis on the Risks to Financial Stability from Digital Transformation

Davis Polk Comments on Federal Reserve’s Proposed Rule on Confidential Supervisory Information

Public Memorandum | Federal Reserve’s Proposed Rule on Controlling Influence: A Step in the Right Direction

Regulators and Plaintiffs Aren’t Waiting for Privacy Legislation: Companies Face Potential Liability Now and Can Take Steps to Reduce Risks

Regulators and Plaintiffs Aren’t Waiting for Privacy Legislation: Companies Face Potential Liability Now and Can Take Steps to Reduce Risks

Cyber Blog Post: The FTC Moves Toward a Rules-Based Approach to Cybersecurity Regulation for Financial Institutions

The FTC Moves Toward a Rules-Based Approach to Cybersecurity Regulation for Financial Institutions

Alternative Data Goes Mainstream, and Gets Increased Attention from Regulators

The CFPB and the Rule of Law

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