Consumer Protection Updates

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Cloud Computing in the Financial Services Sector – the UK FCA Gets On-Message

It’s been a long wait but the UK’s financial services regulator, the Financial Conduct Authority (FCA), has published proposed guidance for UK-regulated financial services firms when using cloud computing solutions to...more

Spain issues deadline for implementing alternative Safe-Harbor mechanisms

Spain’s Data Protection Authority, the Agencia Española de Proteccion de Datós (‘AEPD’), has issued a deadline of 29 January 2016, for the implementation of alternative mechanisms to Safe Harbor....more

Privacy & Cybersecurity Update - November 2015

Consumer Electronics Association Releases Best Practices For Privacy and Security of Personal Wellness Data - In late October 2015, the Consumer Electronics Association released guiding principles governing the...more

Rogers Media to pay $200,000 to settle alleged anti-spam law violations

Canada’s anti-spam legislation (CASL) first came into effect July 1, 2014, and several companies have failed to follow its requirements. Now, Rogers Media has agreed to pay $200,000 in fines to the Canada Radio-Television...more

Does This Year’s Nobel Prize in Economics Suggest Any Lessons Regarding the Regulation of the Consumer Finance Industry?

On Monday October 12, 2015, Professor Angus Deaton won the Nobel Memorial Prize in Economic Science. Professor Deaton’s work focuses in part on consumer behavior, and, more specifically, on techniques used by researchers for...more

IRS says taxpayers can’t sue it for data breach

The Internal Revenue Service recently requested a federal judge in the D.C. Circuit to dismiss a putative class action suit by taxpayers against the IRS for a data breach earlier this year that affected over 330,000...more

BIS and IOSCO consult on cyber resilience

BIS’ CPMI and IOSCO are consulting on principles for cyber resilience for FMIs. The guidance includes: - stressing the importance of board and senior management attention to a successful cyber resilience strategy...more

FTC hosts workshop on cross-device tracking

On November 16, 2015, the Federal Trade Commission (FTC) hosted a workshop focused on the growing practice of cross-device tracking and the associated privacy concerns. While many consumers are aware that their Internet...more

Your daily dose of financial news The Brief – 11.30.15

Another Black Friday has come and gone (and hey, welcome to Cyber Monday and a big financial week ahead), but the truth is that it’s not quite what it used to be—both for brick-and-mortar retailers and for those using it to...more

Facial recognition technology may be used as a method of verifiable parental consent

Last week, the Federal Trade Commission (FTC) determined that companies covered by the Children’s Online Privacy Protection Act (COPPA) can use facial recognition technologies to match a parent’s photo on a government-issued...more

Instagram and the #FreeLunch: FTC Guidelines on Social Media Endorsements

With Thanksgiving behind us and the holiday season in full swing, many of us will be dining out at local restaurants and picking up sumptuous desserts to bring to dinner parties. Looking for restaurant and bakery...more

CFPB Releases Compliance Bulletin Related to Consumer Authorizations for Preauthorized Electronic Fund Transfers

On November 23, 2015, the Consumer Financial Protection Bureau (CFPB) issued CFPB Compliance Bulletin 2015-06 to provide companies with guidance related to their obligations under the Electronic Fund Transfer Act (EFTA) and...more

LabMD update

We reported last week, that LabMD was successful in its fight against the FTC in the administrative investigation against it, prompted by a complaint made to the FTC by Tiversa, when LabMD refused to hire Tiversa to repair an...more

Big Data, Big Government – Big Trouble? A Hard Look at the Final HMDA Rule

If all goes according to plan, financial institutions will report over 250 million data points related to mortgage loan applications and originations in 2018. If the mortgage market returns to the high volumes seen in 2005,...more

Privacy Tip #11

Whenever you open a new bank account, credit card or debit card account or other account such as a health savings account, the bank or credit card company is required to send you a notice of your privacy practices under the...more

DOJ Announces Postponement of the Release of Proposed Web Accessibility Regulations for Public Accommodations Until 2018

Businesses awaiting guidance from the U.S. Department of Justice (DOJ) on accessibility of online content for places of public accommodation under Title III of the Americans with Disabilities Act (ADA) were once again...more

House of Representatives Issues Report Blasting CFPB on the Heels of House Vote to Repeal CFPB’s Auto Lending Guidance

On November 24, 2015, Republican members of the House of Representatives’ Financial Services Committee issued a report titled Unsafe at Any Bureaucracy: CFPB Junk Science and Indirect Auto Lending, which blasts the Consumer...more

The Drive-by Plaintiff in the Hospitality Industry

July 26, 2015, marked the 25th anniversary of Title III of the ADA (“Title III”). The U.S. Department of Justice (“DOJ”), charged with regulating Title III, is finalizing regulations affecting a variety of industries,...more

Third Circuit Slams Google’s Allegedly ‘Deceitful’ Cookie Practices

Exploiting loopholes in Internet users’ cookie-blocking settings while claiming to protect them from cookies is a serious and deceitful invasion of privacy, the Third Circuit held November 10....more

FDA Finalizes Genetically Engineered Food Labeling Guidance & Approves “AquAdvantage Salmon”

Last week will undoubtedly be marked in the annals of Food and Drug Administration history as an important milestone for the Agency. On November 19, 2015, FDA approved the first genetically engineered (GE) animal intended for...more

FDA Releases Guidance on Voluntary Labeling for Foods Derived from Genetically Engineered Plants

On November 23, 2015, the U.S. Food and Drug Administration (FDA) issued a guidance to assist food and feed manufacturers that would like to label their plant-derived food products or ingredients as produced with or without...more

FTC/FCC MOU: Even the Justice League Needs It In Writing

On November 13, 2015, the Federal Trade Commission and the Federal Communications Commission entered into a Memorandum of Understanding to address coordination of consumer protection actions by each agency. Following a wave...more

Starwood Hotels hit with payment card malware attack

Last Friday (November 20, 2015), Starwood Hotels announced that it was hit with a payment card malware attack affecting 50 of its North American hotels. The president of Starwood Hotels Americas stated in a letter to...more

CFPB Releases Compliance Bulletin about Obtaining Authorizations for Preauthorized Electronic Fund Transfers

The Consumer Financial Protection Bureau (the “CFPB”) warned financial companies in a compliance Bulletin Monday that they must have proper authorization before automatically debiting funds from customers’ accounts. (CFPB...more

What is public can still be ‘private’: European Court of Human Rights halts journalists from re-publishing Finnish citizens’...

In a ruling by the European Court of Human Rights (“ECHR”) handed down in July 2015, the right to respect for individuals’ privacy balance trumped journalists’ right to freedom of expression....more

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