January 22, 2020
In This Issue:
- Data Privacy 2020: The Regulatory Landscape and 8 Tips for Your Business
- Special Election Results: Texas House Districts 28, 100 and 148
- Take the CFPB’s TRID Survey
- Texas A&M Real Estate Center, Dallas Fed Sponsoring Housing for a New Economy Conference Feb. 21 in Dallas
Data Privacy 2020: The Regulatory Landscape and 8 Tips for Your Business
Robyn Anderson | Jan. 27, 2020
When we think about Data Privacy our minds might wander to that scene in the movie Minority Report where John Anderson walks into a Gap store and after a retinal scan, a computer greets him by name and asks about his last purchase.
That scenario is not so far-fetched today. Personal data has become the raw material of the digital economy. Collection and use of personal data are central to the business model of most technology firms and are increasingly so in retail, finance, healthcare, and yes, insurance. A recent headline in the Economist proclaims that the world’s most valuable resource is no longer oil, but data. Artificial intelligence, big data and data analytics are all too common descriptors in the new digital economy where rules about how data is used, stored and treated are still being written.
Related privacy issues are currently being deliberated at the United Nations and regulated by governments around the world. In the United States, there’s a patchwork of cumbersome federal and state regulations, and more laws are emerging as states across the nation continue the process of developing and adopting state policies related to the collection of personally identifiable data and information.
For Texas businesses that might be subject to these laws and regulations, the landscape is complex and there’s much to learn. If you’re new to this subject or interested in taking a deeper dive, you could start with the data privacy tips
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This article's author, Robyn Anderson, will be featured in a webinar scheduled March 4: Consumer Privacy Issues – New Laws Effective Jan 1, 2020
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Special Election Results: Texas House Districts 28, 100 and 148
TLTA | Jan. 29, 2020
Special elections were held yesterday for Texas House Districts 28, 100 and 148. The representatives-elect identified below will fulfill unexpired terms, but the upcoming elections in November will determine who fills these seats when the Legislature meets again in 2021.
Texas House District 28, a seat vacated by former Rep. John Zerwas, was won by Republican Gary Gates. Gates defeated Democrat Elizabeth Markowitz. Their race received national attention as three Democratic presidential candidates and former Texas Congressman Beto O'Rourke supported Markowitz in her bid to flip the seat for Democrats. With his victory, Gates will serve until the former officeholder's term expires before the next legislative session in 2021. Gates and Markowitz are both vying for the opportunity to fulfill a full term for HD 28 (which will be decided by the general election in November), and both will appear on their parties' March 3 primary ballots.
In the HD 100 race to replace former Rep. Eric Johnson, who is now serving as the Mayor of Dallas, Democrat Lorraine Birabil appears to have defeated Democrat James Armstrong III. The race went to a runoff after the Nov. 5 general election in which none of the candidates earned a majority of the votes cast. Birabil will fill Johnson’s unexpired term and be a candidate in the March primary for the District 100 term that begins in 2021.
In the race for HD 148, a seat formerly held by Jessica Farrar, Democrat Anna Eastman defeated Republican Luis La Rotta. Eastman will fill Farrar’s unexpired term and be a candidate in the March primary for the District 148 term that begins in 2021.
Take CFPB's TRID Effectiveness Survey
TLTA | Jan. 28, 2020
The Consumer Financial Protection Bureau (CFPB) is assessing the effectiveness of TILA-RESPA Integrated Disclosure Rule (TRID Rule) and they've asked companies that conduct closings covered by this regulation to complete a survey.
It's important for as many title agents as possible to take the survey. More robust data helps the industry advocate for desired changes to fix the title fee disclosure and remove the optional tag for owner's title insurance.
The deadline to complete CFPB's survey is March 6, 2020.
Complete the CFPB's Survey »
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Texas A&M Real Estate Center, Dallas Fed Sponsoring Housing for a New Economy Conference Feb. 21 in Dallas
Federal Reserve Bank of Dallas | Jan. 25, 2020
Economic, demographic and social change are challenging the U.S. housing industry. Cash-strapped buyers are struggling with affordability. Technology has replaced former face-to-face transactions, creating entirely new ways of buying, selling and financing a new home.
Join industry analysts, economists and experts at this one-day conference in Dallas to learn about the latest trends affecting housing, and discover developments that promise to change home buying.
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Explore our library of more than 80 On-Demand webinars and videos covering the title industry topics you need to earn continuing education credits and stay ahead of the curve on the latest industry trends.