Finance & Banking, Communications & Media Law, Privacy

FINRA Levies $9 Million Fine Against Financial Service Company Over Email Failures

by Pillsbury Social Media, Entertainment &... on 5/22/2013

The Financial Industry Regulatory Authority (FINRA) has levied a $7.5 million fine against LPL Financial LLC (LPL) for a series of email system failures which prevented LPL from accessing hundreds of millions of emails and...more

Big Regulation’s Big Data

by Richik Sarkar on 5/8/2013

In March 2012, the Obama Administration announced its Big Data Research and Development Initiative. The program involves a total of over $200 million in new commitments from several departments and agencies to improve the...more

FTC Recommends Consumer Protections for Mobile Payment Industry

by Wilson Sonsini Goodrich & Rosati on 4/1/2013

The Federal Trade Commission (FTC) has released a staff report on mobile payments, which identifies and makes recommendations for three key issues in the mobile payment industry that the FTC believes present consumer...more

President Issues Cybersecurity Executive Order; Pending Legislation Revived

by Loeb & Loeb LLP on 3/27/2013

President Barack Obama issued his administration's much-anticipated executive order on cybersecurity Feb. 12, to "enhance the security and resilience of the Nation's critical infrastructure and to maintain a cyber environment...more

FTC Points to Key Issues in New World of Mobile Payments

by Jeff Ifrah on 3/25/2013

Earlier this month, the Federal Trade Commission released a staff report outlining key issues facing consumers and companies as they adopt mobile payment services, entitled “Paper, Plastic . . . or Mobile? An FTC Workshop on...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

Advertising Law - Mar 15, 2013

by Manatt, Phelps & Phillips, LLP on 3/15/2013

In This Issue: SPECIAL FOCUS: FTC Releases Updated Guidance for Digital Marketers; Less Dry or Moisturized? NAD Decides; FTC Targets Lack of Security on Mobile Device's Software; Apple, Parents Reach Deal on In-App...more

Cybersecurity: President Obama’s Executive Order Is Only the Beginning

by David Ransom | McDermott Will & Emery on 3/14/2013

This On the Subject outlines why hospitals and financial services and communications companies should pay attention to the recent executive order entitled “Improving Critical Infrastructure Cybersecurity.”...more

FTC Releases Report on Improving Consumer Protections in Mobile Payments; Recommends Financial, Privacy and Data Security...

by D. Reed Freeman, Jr., Matthew W. Janiga, Obrea O. Poindexter | Morrison & Foerster LLP on 3/14/2013

On March 8, 2013 the Federal Trade Commission (“FTC”) released a Report on mobile payments that serves to follow up on the FTC’s April 2012 workshop on mobile payments, as well as to lay the groundwork for the application of...more

FTC Releases Report on Mobile Payments; Guidance on Addressing Issues in Mobile Carrier Billing, Privacy and Data Security

by Brian J. Hurh | Davis Wright Tremaine LLP on 3/14/2013

Earlier this month, the FTC released a Report highlighting some of the key issues in the mobile payments space, with particular focus on mobile carrier billing, privacy and data security, and international payments. The...more

Zip Code as Personal Information: The Massachusetts Round 2

by Mintz Levin - Privacy & Security on 3/13/2013

Yesterday, the Massachusetts Supreme Judicial Court (“SJC”) ruled that zip codes constitute “personal identification information” under G.L. c. 93. The question of law came to the SJC from the U.S. District Court for...more

Privacy & Cybersecurity Update: NIST Issues Request for Information on Critical Infrastructure Cybersecurity Practices

by John Beahn, Antoinette Bush, Joshua Gruenspecht, Stuart D. Levi, Ivan A. Schlager | Skadden, Arps, Slate, Meagher & Flom LLP on 3/5/2013

On February 26, following close on the heels of the recent executive order setting forth the administration’s approach to the regulation of critical infrastructure network security, the National Institute of Standards and...more

Executive Order Begins Process Of Strengthening Nation’s Cybersecurity And Critical Infrastructure

by Sharon Klein, Jeffrey Vagle | Pepper Hamilton LLP on 2/22/2013

During his State of the Union address on February 12, 2013, President Barack Obama announced his signing of a long-anticipated Executive Order on cybersecurity. After months of discussions with technology companies the...more

President Obama's Executive Order: "Improving Critical Infrastructure Cybersecurity"

by JD Supra Law News on 2/12/2013

Full text copy of President Obama's executive order calling for greater protections against cybersecurity risks, as mentioned in his Feb 12, 2013, State of the Union address. The order is meant to bring more security and...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 1, 2013

by BuckleySandler LLP on 2/8/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - E-COMMERCE - PRIVACY/DATA SECURITY -...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

The Retail Point Of Sale Goes Mobile

by Thomas (Tom) C. Bell, J. Dax Hansen, Sarah E. Lysons | Perkins Coie on 12/29/2012

Mobile point-of-sale payment terminals have experienced explosive growth over the past year. Unlike a traditional point-of-sale terminal, a mobile terminal communicates wirelessly when processing payment cards. There are...more

Advertising Law -- Dec 26, 2012

by Manatt, Phelps & Phillips, LLP on 12/28/2012

In This Issue: SPECIAL FOCUS: FTC Announces Final Amendments to Children’s Online Privacy Protection Rule; ’Tis the Season for Gift Card Restrictions; NAD Speaks on Indefinite Promotions; FCC: Confirmatory Opt-Out...more

Making Meyer Lemonade Out Of Meyer Lemons: Ninth Circuit Affirms Provisional Class Certification and Injunction in TCPA Case

by Elizabeth Berman Barcohana | Sheppard Mullin Richter & Hampton LLP on 12/5/2012

In Meyer v. Portfolio Recovery Associates (Oct. 12, 2012), the Ninth Circuit affirmed the Southern District of California’s decision to provisionally certify a class and grant a preliminary injunction against Portfolio...more

FCC Rules That Confirmatory Opt-Out Text Messages Don't Violate the TCPA Under Certain Circumstances

by Debra R. Bernard | Perkins Coie on 12/5/2012

In a ruling that will impact certain aspects of how companies handle their SMS/text message promotional programs, on November 29, 2012, the Federal Communications Commission (FCC) released a Declaratory Ruling regarding the...more

FCC TCPA Declaratory Ruling on Opt-out Text Communications Enables Organizations to Issue Confirmation Messages

by Monica S. Desai | Patton Boggs LLP on 12/4/2012

On November 29, the Federal Communications Commission (FCC) declared that businesses are allowed to send a one-time text message to a consumer that confirms a request to opt-out of receiving future text communications. The...more

FCC Ruling Permits Confirmation Text Messages for ‘Opt-Out’ Customers

by Jeff Ifrah on 12/3/2012

The Federal Communications Commission recently ruled that companies may send a one-time text message confirming a consumer’s opt-out of texts without violating the Telephone Consumer Protection Act (“TCPA”), and potentially...more

Ninth Circuit Upholds Class Certification in TCPA Case

by BuckleySandler LLP on 11/1/2012

On October 12, the U.S. Court of Appeals for the Ninth Circuit upheld provisional class certification for a plaintiff debtor, who claimed that a debt collector had violated the Telephone Consumer Protection Act (TCPA) by...more

FTC Settles Charges Related to Sale and Use of Consumer Mortgage Payment Data

by BuckleySandler LLP on 10/17/2012

On October 10, the FTC announced that a major consumer reporting agency (CRA) agreed to settle charges that it improperly sold lists of consumers who were late on their mortgage payments. ...more

Regulators Emphasize Importance of Money Transmission Laws, Consumer Protection and Other Regulatory Compliance for Mobile and...

by Davis Wright Tremaine LLP on 10/3/2012

At last week’s ACI Emerging Payments Systems conference in Washington, DC, sponsored in part by Davis Wright Tremaine, federal and state regulators and industry participants discussed the myriad legal issues facing innovators...more

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Finance & Banking › Communications & Media Law › Privacy