Blog Posts Tagged with Gramm-Leach-Bliley Act

A new model for auto dealers?

There are three letters every auto dealer should know about. GTO? XKE? Good guesses, but not what we had in mind.

We’re talking about GLB.

The Gramm-Leach-Bliley Act requires financial institutions to give their customers initial and annual notices about their privacy policies. If the company shares certain customer information with particular types of third parties, they also have to give customers the opportunity to opt out of sharing. The FTC’s Privacy of Consumer Financial Information Rule – friends call it the GLB Privacy Rule – explains the specifics.

Time 2 txt about data security basics?

53 and it’s likely to go up. That’s the number of data security law enforcement actions the FTC has settled so far. The facts of each case are different, but distilled down to the basics, they stand for one central proposition: Your company’s data security measures should be reasonable and appropriate in light of the sensitivity and amount of consumer information you have, the size and complexity of your business, and the availability and cost of tools to improve security and reduce vulnerabilities.

The long and short of it

Ahab hunts big fish.
Captain and whaling boat sink.

Ishmael prevails.

Sometimes you want to read all 209,117 words of Moby Dick.  Other times a haiku will do.  Sometimes you want an in-depth analysis of the FTC’s enforcement, rulemaking, research, education, and international efforts related to privacy and data security.  Other times a summary will suffice.

Trash Talking

Some things you’d expect to find in a trash can:  last night’s potato peelings, the casserole that looked so promising in the cookbook photo, and Oscar the Grouch.  But if you run a business, the one thing you don’t want in the dumpster behind your office is paperwork containing sensitive information about your customers.  Just ask PLS Financial Services, PLS Group, and the Payday Loan Store of Illinois.

Room with review

Is your briefcase feeling lighter? That’s because your dog-eared copy of Volume 16 of the Code of Federal Regulations (where most FTC rules and guides live) is decidedly thinner these days. For the past two decades, the agency has undertaken a systematic review of its rules and guides to make sure they’re up to date, effective, and not overly burdensome. As each rule comes up for review, we ask ourselves — and you — four questions:

Six myths about filing comments with the FTC

You’ve seen the sentence when the FTC announces that it’s thinking about putting a new rule in place or changing what’s already on the books: “Interested parties are invited to submit comments. . . .”.  The alphabet soup of the administrative process can be a bit daunting at first: ANPR (Advance Notice of Proposed Rulemaking), FRN (Federal Register Notice), CFR (Code of Federal Regulations), SBP (Statement of Basis and Purpose). When it comes to the rulemaking process at the FTC, here are six common myths — and the straight scoop.

NCP Double-YOU

Break out the bubbly and raise a toast:  It's National Consumer Protection Week.  NCPW is an annual campaign sponsored by the FTC and nearly 30 other federal agencies, consumer groups, and advocacy organizations, in conjunction with state, county, and local government offices that are sponsoring events nationwide.  The goal?  To encourage consumers to take full advantage of their rights and make better-informed decisions.

Data Resellers Liable for Downstream Security Failures

Of course, no legitimate business would put out a welcome mat for crooks.  But as the FTC’s data security cases make clear, that’s the effect when companies fail to take reasonable steps to secure sensitive information in their possession — or data they allow others to access.  Three recent settlements with companies that resell credit reports illustrate that point.

Data Security: Copi-er That!

If your company keeps sensitive data like Social Security numbers, credit reports, account numbers, health records, or business secrets, you’ve probably instituted safeguards to protect that information, whether it’s stored in computers or on paper. That’s great.  But it’s time to take those safeguards a step further.

On the Road Again

This is National Chemistry Week. It’s also National School Bus Week. And be sure to wish members of Team Jacob a happy National Wolf Awareness Week. But for most business travelers, the annual observance that really hits home – or the road – is National Protect Your Identity Week, October 17th through 23rd.

BCP Business Center: Your Link to the Law

Welcome to the BCP Business Center:  Your Link to the Law.  Explore and you’ll find practical compliance guidance on advertising, telemarketing, credit, data security, and other need-to-know topics for business owners and marketing professionals.  What else will you find?  The latest word on upcoming workshops, hot-off-the-presses staff reports, and new compliance videos.  We’ll do our best to keep things to the point with a minimum of ho-hum, a maximum of how-to, and as little yadda yadda yadda as a legal website can manage.