Tag: Gramm-Leach-Bliley Act

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Patch your software. Segment your network. Monitor for intruders. According to tech experts, those are security basics for businesses of any size. But when you’re industry giant Equifax – a company in possession of staggering amounts of highly confidential information about more than...
NOTE: The FTC hosted an IN-PERSON press conference at FTC Headquarters, 600 Pennsylvania Ave, NW, Washington D.C., on July 22, 2019. Watch archival video of the press conference.Participants included: FTC Chairman Joe Simons, CFPB Director Kathy Kraninger, and Maryland Attorney General Brian Frosh.
Equifax, Inc. agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB), nad 50 U.S. states and territories to settle allegations that the credit reporting...
The domino principle. The ripple effect. The butterfly phenomenon. Apply the analogy of your choice to describe what happens when one software developer’s allegedly lax security practices result in the breach of confidential customer information maintained by multiple businesses that...
An Iowa company that sells software and data services to auto dealers has agreed to take steps to better protect the data it collects, to settle Federal Trade Commission allegations that the firm’s poor data security practices led to a breach that exposed the personal information of millions of...
LightYear Dealer Technologies, LLC settled Federal Trade Commission allegations that the auto dealer software provider failed to take reasonable steps to secure consumers' data, leading to a breach that exposed the personal information of millions of consumers. 
The Federal Trade Commission has agreed to extend by 60 days the deadline for the public to submit comments on proposed changes to the Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program.
Testifying before a House Oversight and Reform Subcommittee, the Federal Trade Commission described its role in overseeing the data security practices of consumer reporting agencies (CRAs).
Looking to take a deep dive into the breadth and depth of the FTC’s approach to consumer privacy and data security in the past year? The FTC’s website, including the Business Center, has what you need. But what if you or your clients prefer an at-your-fingertips digest of developments...
The Federal Trade Commission is seeking comment on proposed amendments to two rules that protect the privacy and security of customer information held by financial institutions.
The Federal Trade Commission has given final approval to a settlement with PayPal, Inc. over allegations that its Venmo peer-to-peer payment service misled consumers about their ability to transfer funds to external bank accounts and control the privacy of their Venmo transactions.
It’s a given that companies shouldn’t charge consumers hidden fees. But it raises a particular concern when an online lender makes “No Hidden Fees” claims a centerpiece of its marketing – and then deducts from those loans hundreds or even thousands of dollars in hidden up-front fees...

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