As 2020 draws closer, many states are poised to consider their own consumer privacy laws. While the most anticipated privacy development of 2020 is, of course, the enactment of the California Consumer Privacy Act (CCPA), similarly proposed laws — many of which have been dubbed "CCPA copycats" — will be debated in legislatures across the country next year. Bills in Massachusetts, Minnesota, Pennsylvania, New Jersey and New York, among others, are pending and will be debated in the coming months.
Yet, while the legislatures are now flush with bills, the degree to which these debates will bring greater regulation is anybody's guess. Several laws that had been expected to pass this year — namely New York and Washington state — saw negotiations collapse, speaking to the difficulty of seeing a diversity of shareholders reach consensus on the complex issues at play. Those issues include the fraught interplay between commerce and consumer protections.
(Read complete article.)
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There have been several PRIA Local meetings held this month. The new
Utah Chapter met in October for their second meeting and focused on upcoming legislative impacts to both the government and business attendees. The co-chair reported a very interesting and positive interaction between the two groups who have previously not met together for years.
The
SE Minnesota Chapter
met on November 6 and focused on local issues and on eRecording process and trends both nationally and in Minnesota. The
Red River Minnesota Chapter
is reviving their Chapter and they're meeting again on November 20, in Morehead, MN.
The new
906 PRIA Local Chapter met on October 15, in Marquette, MI. And the
Pure Michigan Chapter held their two inaugural meetings in two different locations - same agenda and topics - on October 8 in Lansing and on October 10 in Traverse City. All reports from attendees have been very positive and enthusiastic.
The new
Wisconsin Chapter will be holding their second round of meetings this month. They'll hold meetings in Madison on November 12 and in Weston on November 13. Their meetings have been well attended and very comprehensive, so if you're in their area, please consider attending.
C
heck the
PRIA Local Map
to help find a Chapter meeting in your area or
contact Carolyn Ableman
, PRIA Local Coordinator, to find out more or to start your own Chapter. You can always find other Chapter agendas and minutes to inspire you with relevant topics and speakers.
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As law firms and title companies seek efficiency and market share, they continue to consider technological advances that can improve the customer experience and eliminate the need for physical presence at a closing table. Additionally, transacting parties continue to express a need for remote online services.
Among the changes that seek to bring real estate closings into the technological era is a push toward electronic and remote online notarization. Where adopted, RON laws will allow a remote notary, legally commissioned by the applicable state, to conduct notarizations over the internet via digital tools and a live audio/video call.
(Read complete article.)
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The needs of consumers are changing, new demographics have entered the housing market, tech continues to alter the landscape, and the title industry is left to try and keep pace.
DS News
spoke to an array of title professionals about the state of the industry, how it can best leverage technology, and what challenges await as 2020 closes in.
The rise of technology undoubtedly has its positives and negatives. While the advancements have helped streamline insurance processes, they have also opened up new avenues for fraud and theft. Cynthia Durham Blair NTP, Co-owner of Blair, Cato, Pickren, Casterline, LLC, pointed to the American Land Title Association’s (ALTA’s) establishment of the Coalition to Stop Real Estate Wire Fraud. The group, Blair said, is dedicated to raising awareness and educating not only homebuyers, but also everyone else involved in the process of securing a loan or buying a home.
“We want to help people prevent the risk of wire fraud, and empower those who have been victimized in a fraud like this to come forward with their stories,” Blair said. “The best way for us to raise awareness is for the unfortunate victims to come forward and be public about their stories, so people know that it happens. It’s not discriminatory about where it happens or to whom it happens. It happens all over the country, on both large and small transactions.”
Of course, for every dangerous door technology opens, there are plenty of bridges it provides to new opportunities as well. Qualia Co-Founder Joel Gottsegen told MReport that advancements in technology— notably a little invention known as the smartphone—have provided most Americans with access to the internet almost anywhere in the world. While the real estate and lending industries have evolved over the past decade to meet expectations from a more tech-savvy clientele, Gottsegen suggests the title industry lags behind.
(Read complete article.)
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Atlanta was one of the first major cities hit and waylaid by a costly ransomware attack. As headlines about what happened continued in the months to come, similar incidents besieged other government agencies across the country. There was Baltimore. There was the Colorado Department of Transportation, twice. There were half a dozen small cities in Massachusetts. There was
Albany, N.Y
.
In the past 18 months or so,
cyberattacks on government have accelerated
. Experts say this is an evolution wherein bad actors have moved from targeting individuals at random, to going after governments,
school districts
,
companies, and other institutions, which often have more to lose and are thereby more lucrative. Another factor in the recent acceleration is that many of these entities have been traditionally underfunded in the realm of cybersecurity.
As such, public-sector IT leaders have begun to view a successful cyberattack as a matter of when, not if. Essentially, regardless of how well-prepared government is, a breach is still coming, and so a larger onus is now being placed on response, specifically on best practices for the aftermath of a cyberattack. Within this conversation, however, a major point of tension has arisen — transparency.
(Read complete article.)
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We hear from our teams every day regarding how cyberthreats to our enterprise are getting more frequent, more sophisticated and more targeted. Cyber intrusions, specifically publicly reported incidents, are on the rise. It’s easy to tune the warnings out, but we must remain vigilant. Our responsibilities to our clients, shareholders, employees and other stakeholders depend on us remaining focused.
As cyberattacks grow in volume and complexity, it’s time to face a hard truth: Humans are already not able to keep up with the pace of threats, and companies can't afford to keep up manually. Many, if not most IT teams do not have the resources to protect their enterprises, certainly not in real time. And in a world where minutes matter and thoroughness is paramount, we need to look at artificial intelligence (AI) to support and augment what we need to combat the bad actors.
(Read complete article.)
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excerpted from ALTA Advocacy Update by ALTA CEO/COO Diane Tomb, October 28, 2019
"
ALTA joined 67 other groups in a letter urging strong support for a long-term reauthorization of the Terrorism Risk Insurance Act (TRIA) and prompt Congressional action to renew the critical program.
"
The TRIA Program has been, and remains, extremely effective in achieving its primary purpose, which was to stabilize the market following 9/11 and to ensure the continued availability of terrorism coverage for commercial policyholders in the future," the groups wrote in the letter. "America needs a stable and reliable terrorism insurance market so that employers can invest in assets and create jobs without assuming the risk and liabilities of a terrorist attack. At almost no cost to the taxpayer, the Program has been the key factor in ensuring that the private insurance market has remained intact and continues to meet the needs of commercial policyholders during the on-going threat of a future terrorist attack--all while minimizing federal taxpayer exposure."
The House Financial Services Committee on Oct. 16 held a hearing on TRIA reauthorization. Members of the committee voiced strong bipartisan support for continuation of the program."
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CONTENT DISCLAIMER
The views and opinions expressed in the media, articles, comments, or links in this publication are those of the speakers or authors and do not necessarily reflect or represent the views and opinions held by PRIA or its members. PRIA does not warrant the accuracy, timeliness or completeness of the information contained in this publication. If you have a complaint about something you have found in this publication, please contact PRIA by email at
info@pria.us
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This publication may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. PRIA believes this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material in this publication is distributed without profit, to those who have expressed a prior interest in such information, for comment and nonprofit educational purposes.
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