Consumer Protection, Science, Computers & Technology, Finance & Banking

FTC Sharpens Focus On Data Brokers

by BuckleySandler LLP on 5/14/2013

On May 7, the FTC released letters it sent to 10 data brokers warning that certain of the brokers’ practices could violate FCRA privacy protections. ...more

SEC and CFTC Issue Identity Theft Red Flags Rules Applicable to Financial Institutions and Creditors

by Timothy Blank, Nicholas DiLorenzo, Owen C.J. Foster, Christopher Harvey | Dechert LLP on 4/30/2013

The SEC and CFTC recently issued joint Identity Theft Red Flags Rules (the “Rules”), which are rules and guidelines requiring certain financial institutions worldwide to adopt comprehensive data security programs to detect...more

Virginia Financial Institutions - April 2013

by Joseph Spruill | Reed Smith on 4/19/2013

In This Issue: - Virginia General Assembly Concludes 2013 Session – Highlights and Considerations for Financial Institutions - Cyber Fraud: Lawsuit by Local Community Bank Demonstrates Need for Vigilance...more

FTC Recommends Stronger Safeguards for Mobile Payments

by Karen H Bromberg | Cohen & Gresser LLP on 4/18/2013

With the use of mobile payments by consumers reaching “fever pitch”, the FTC has released a new report entitled, “Paper, Plastic… or Mobile? An FTC Workshop on Mobile Payments,” discussing how companies can develop mobile...more

How secure is the CFPB’s consumer complaint system?

by Barbara S. Mishkin | Ballard Spahr LLP on 4/11/2013

An audit of the CFPB’s Consumer Response System (CRS) by the Federal Reserve’s Office of Inspector General (OIG) found that improvements are needed to ensure that the requirements of the Federal Information Security...more

Virtual Currency Under Federal Anti-Money Laundering Laws: FinCEN Provides Guidance

by David Beam | K&L Gates LLP on 4/5/2013

A lot of companies transact in credits that might be called “virtual currency.” Most of these companies probably do not consider themselves financial institutions. Many have never considered the possibility that they need to...more

Keep up with CFPB Monitor with alternatives to Google Reader

by Christopher J. Willis | Ballard Spahr LLP on 4/2/2013

Many devotees of Google Reader—including yours truly—are lamenting Google’s recent announcement that this “reading list” function is going away. I always found Google Reader to be a handy one-stop-shopping method for keeping...more

Court Limits Use of Zip Codes in Massachusetts Credit Card Transactions

by Thomas I. Elkind | Foley & Lardner LLP on 4/1/2013

In a recent decision, Tyler v. Michaels Stores, Inc., the Massachusetts Supreme Judicial Court held that zip codes are “personal identification information” and that a merchant asking for that information during a credit card...more

FTC Report on Mobile Payments

by Loeb & Loeb LLP on 3/27/2013

The Federal Trade Commission issued a report and recommendations for mobile payments called Paper, Plastic... or Mobile? An FTC Workshop on Mobile Payments, which is based on a workshop held by the Commission in 2012 to...more

Consumer Debt Collectors Join the Federally Supervised Community

by Dennis O. Cohen, Joshua Farnsworth | BakerHostetler on 3/27/2013

For the consumer debt collection industry, the federal regulators have arrived. In February 2013, the Consumer Financial Protection Bureau (CFPB) began supervising roughly 175 large consumer debt collectors, defined as those...more

Authorities Regarding GLBA Privacy and the FCRA

by James H. Mann | Davis Wright Tremaine LLP on 3/21/2013

One of PLA’s missions is to facilitate knowledge-management for payments practitioners. Pursuant to that mission, PLA is today posting four fundamental, but not always easily accessed, authorities regarding GLBA privacy and...more

Retailers Beware: Common Credit Card and Marketing Data Collection Practices Could Violate Law

by Richard Green | McCarter & English, LLP on 3/18/2013

Already home to one of the toughest data protection laws in the country, Massachusetts now joins California in having expansive protections for data exchanged during a credit card transaction....more

TECHCOMM/FINANCIAL SERVICES CLIENT ALERT: FTC Releases Report Outlining Mobile Payment Concerns

by Paul Besozzi, Monica S. Desai, MIchael Drobac, Deborah Lodge, Carol Van Cleef | Patton Boggs LLP on 3/13/2013

On March 8, 2013, the Federal Trade Commission (FTC) released a staff report, entitled “Paper, Plastic…or Mobile? An FTC Workshop on Mobile Payments,” addressing its consumer protection concerns in the mobile payments area....more

Is Equifax Selling Your Salary Information?

by Jeff Ifrah on 3/11/2013

According to a recent NBC News report, Equifax, one of the three largest American credit reporting agencies, has assembled an enormous database containing employment and salary information for more than 190 million U.S....more

Advertising News & Analysis - February 14, 2013

by Edward Boyle, Emilio W. Cividanes, Douglas Emhoff, Stuart P. Ingis, Jeffrey D. Knowles, Melissa McLaughlin, Amy Ralph Mudge, Jonathan L. Pompan, Randal M. Shaheen | Venable LLP on 2/18/2013

In this issue: - Recent NAD Decision Illuminates FDA’s “Light” Requirements - CA Supreme Court Rules Song-Beverly Doesn’t Apply to Online Downloadable Purchases - Comments in Four Loko Settlement May Drive...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 15, 2013

by BuckleySandler LLP on 2/15/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - PRIVACY/DATA SECURITY - Excerpt from Privacy/Data...more

Do Merchants That Outsource Payment Processing Still Have Risk From a Breach?

by Craig Hoffman | BakerHostetler on 2/11/2013

Last week a small New England bakery announced that its point-of-sale (POS) devices were infected with malware that may have put card data at risk....more

Magistrate Recommends Lawsuit Against Global Payments Should Be Dismissed

by Randy Gainer | Davis Wright Tremaine LLP on 2/11/2013

A federal Magistrate has recommended dismissal with prejudice of all of the cardholder plaintiffs’ claims against payment processor Global Payments, Inc. in a widely-reported data breach case....more

Federal Regulators Propose Guidance For Social Media Use

by BuckleySandler LLP on 2/4/2013

On January 22, the FFIEC proposed guidance on the applicability of consumer protection and compliance laws, regulations, and policies to activities conducted via social media by federally supervised financial institutions, as...more

FFIEC Asks for Feedback on Social Media Proposed Guidance

by John L. Culhane, Jr., Alan S. Kaplinsky, Amy Mushahwar, Jeremy T. Rosenblum, Mercedes Kelley Tunstall | Ballard Spahr LLP on 1/30/2013

The Federal Financial Institutions Examination Council (FFIEC) is seeking feedback on proposed guidance to help financial institutions manage the risks of interacting with consumers through social media....more

FFIEC Issues Proposed Guidance on Social Media Risks and Compliance

by Richard Raysman | Holland & Knight LLP on 1/28/2013

The Federal Financial Institutions Examination Council (FFIEC) released a proposed guidance regarding the applicability of consumer protection, compliance and privacy laws to social media usage by banks, credit unions, and...more

Mobile Payments Risks

by John Dodge | Davis Wright Tremaine LLP on 12/20/2012

The Federal Deposit Insurance Corporation (FDIC) recently published a report in the agency’s “Supervisory Highlights” journal concerning the growth of mobile payments and the responsibility of banks and non-bank third parties...more

Before presenting your idea . . .

by Mercedes Kelley Tunstall | Ballard Spahr LLP on 11/15/2012

I regularly work with technology innovators to help them get their ideas cleaned up for financial institutions and to give them a headstart in understanding the types of risk concerns and controls that financial institutions...more

Ex-SEC GC: Financial Markets Aren't Rigged, They're Broken [Video]

by Bloomberg Law on 10/19/2012

Oct. 19 (Bloomberg Law) -- Ralph Ferrara, partner at Proskauer Rose LLP, talks with Bloomberg Law's Lee Pacchia about the problems presented by high frequency trading and potential solutions. Ferrara says that certain policy...more

Reed Says Market Disruptions Are "Wake Up Call" On Computerized Trading [Video]

by Bloomberg Law on 9/19/2012

Sept. 19 (Bloomberg Law) -- Senator Jack Reed, Democrat from Rhode Island, talks to Bloomberg Law's Lee Pacchia about an upcoming hearing in front of a subcommittee for the U.S. Senate Banking Committee on how high speed...more

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Consumer Protection › Science, Computers & Technology › Finance & Banking

FTC Sharpens Focus On Data Brokers

SEC and CFTC Issue Identity Theft Red Flags Rules Applicable to Financial Institutions and Creditors

Virginia Financial Institutions - April 2013

FTC Recommends Stronger Safeguards for Mobile Payments

How secure is the CFPB’s consumer complaint system?

Virtual Currency Under Federal Anti-Money Laundering Laws: FinCEN Provides Guidance

Keep up with CFPB Monitor with alternatives to Google Reader

Court Limits Use of Zip Codes in Massachusetts Credit Card Transactions

FTC Report on Mobile Payments

Consumer Debt Collectors Join the Federally Supervised Community

Authorities Regarding GLBA Privacy and the FCRA

Retailers Beware: Common Credit Card and Marketing Data Collection Practices Could Violate Law

TECHCOMM/FINANCIAL SERVICES CLIENT ALERT: FTC Releases Report Outlining Mobile Payment Concerns

Is Equifax Selling Your Salary Information?

Advertising News & Analysis - February 14, 2013

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 15, 2013

Do Merchants That Outsource Payment Processing Still Have Risk From a Breach?

Magistrate Recommends Lawsuit Against Global Payments Should Be Dismissed

Federal Regulators Propose Guidance For Social Media Use

FFIEC Asks for Feedback on Social Media Proposed Guidance

FFIEC Issues Proposed Guidance on Social Media Risks and Compliance

Mobile Payments Risks

Before presenting your idea . . .

Ex-SEC GC: Financial Markets Aren't Rigged, They're Broken [Video]

Reed Says Market Disruptions Are "Wake Up Call" On Computerized Trading [Video]

Ex-SEC GC: Financial Markets Aren't Rigged, They're Broken [Video]

Reed Says Market Disruptions Are "Wake Up Call" On Computerized Trading [Video]

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