Privacy Consumer Protection Finance & Banking

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The CFPB Takes First Enforcement Action Related to Data Security Practices

The Consumer Financial Protection Bureau (CFPB ) has taken its first UDAAP action against a consumer financial service provider related to data security practices. Since its launch in December 2009, Dwolla, Inc. ("Dwolla"),...more

CFPB: The Quarterly Review - April 2016

If the first quarter is any indication, 2016 is going to be a busy year for the CFPB and market participants alike. The CFPB Speaks - Regulation by enforcement - On March 9, during his prepared remarks to...more

Seventh Circuit (Again) Finds Consumers Have Standing To Sue Over Data Breaches

On April 14, 2016, the Seventh Circuit held in Lewart v. P.F. Chang’s that customers who may have had personal information compromised in a P.F. Chang’s data breach have standing, at the motion-to-dismiss stage, to sue the...more

CFPB Steps Up Scrutiny of FinTech Companies

On March 7, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it will begin collecting complaints from consumers about online marketplace lenders, signaling its intention to increasingly regulate the...more

TCPA Exemption for Collection of Federal Debts Applies Retroactively, CA Federal Court Rules

The new Telephone Consumer Protection Act (TCPA) exemption for calls made to cellular numbers to collect debts owed to or guaranteed by the United States applies retroactively to calls made before the exemption's effective...more

FTC Releases 2015 Annual Highlights

On April 6, the FTC released its 2015 Annual Highlights report, which is comprised of four key sections: (i) enforcement; (ii) policy; (iii) education; and (iv) stats and data. Regarding enforcement highlights in 2015, the...more

How Many Times Do We Have to Tell You Not to Open the Cat Video

Everyone has been in a movie theater when one of the actors approaches that door to the basement behind which strange noises are coming. They reach out to turn the knob and in unison the audience is thinking “Fool, haven’t...more

California AG Harris Announces Settlement with San Francisco-Based Bank Over Consumer Privacy Violations

On March 28, California AG Harris announced an $8.5 million settlement with a San Francisco-based bank for alleged violations of California consumer privacy laws. Specifically, AG Harris’s and five district attorneys’...more

2016 Data Breach Litigation Report

Data security breaches – and data security breach litigation – dominated the headlines in 2015 and continue to do so in 2016. Continuous widely publicized breaches have led to 30,000 articles a month being published that...more

FTC Highlights FDCPA Risks for Debt Collectors Using Social Media, Texts

The Federal Trade Commission (FTC) recently published a reminder to debt collectors of the Fair Debt Collection Practices Act (FDCPA) compliance risks that are created by the use of social media or text messages in connection...more

This Call May Be Recorded: Wells Fargo to pay $8.5 million in consumer privacy case

On March 29, 2016, Wells Fargo settled a suit brought by California State Attorney General Kamala Harris and five district attorneys from Los Angeles, Riverside, Ventura, San Diego and Alameda counties, alleging the San...more

FTC Launches Study of Assessment Process for Payment Card Industry Data Security Standards

On March 7, the FTC announced a study of Payment Card Industry Data Security Standard (“PCI DSS”) assessments – the audits required of certain merchants pursuant to rules imposed by payment card brands such as Visa and...more

Privacy Implications of CISA for Financial Institutions

Financial institutions are attractive targets for cyber attacks due to their collection of private customer and economic information. In order to help the private sector respond more effectively to cyber attacks, President...more

US Federal Financial Institution Regulatory Agencies Release Guidance to Issuing Banks on Applying Customer Identification Program...

The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency and Financial Crimes Enforcement Network issued...more

Debt Collector for Affiliated Physician Group Can Rely on Patient Contact Consent Obtained by Hospital

Careful drafting of consent and information release provisions can ensure that providers and affiliated physicians and their debt collectors can contact patient cell phones using automatic telephone dialing systems or...more

FDIC Issues Special Newsletter on Cyber Security – What You Need to Know

The Federal Deposit Insurance Corporation (“FDIC”) has been publishing FDIC Consumer News quarterly since 1993 to help people protect their money and avoid financial fraud and theft. In its Winter 2016 issue, the FDIC has...more

How to Select a Qualified Security Assessor (“QSA”)

Retailers that accept credit cards are typically required by the payment card brands to show that they are in compliance with the Payment Card Industry Data Security Standards or “PCI DSS” at least once a year. How a retailer...more

Information Security and Privacy Group News: Cybersecurity Conference Essential Take-Aways Government, Industry and Legal...

Representatives of Connecticut businesses and corporations, educational institutions, and state and local government attended Murtha Cullina’s March 2016 Cybersecurity Conference at the Quinnipiac University School of Law....more

NY DFS Brings First Data Security Action

The New York State Department of Financial Services (DFS) has announced that it has entered into a consent order with an online payday loan lead generator and its chief executive officer (CEO) (collectively, respondents) to...more

Top 10 Financial Institution Considerations for 2016: #4 – Data Security and Privacy

In our initial article announcing our top 10 considerations for financial institutions in 2016, our fourth consideration was data security and privacy. While the recent focus has been on cybersecurity, it is important to...more

CFPB’s First-Ever Data Security Enforcement Action

Earlier this month, the Consumer Financial Protection Bureau (CFPB) made headlines by bringing its first enforcement action in the data security space. Dwolla, Inc., an Iowa-based online payment processor, was the CFPB’s...more

The CFPB Files First Consent Order Involving Data Privacy

On March 2, 2016, the Consumer Financial Protection Bureau (CFPB) filed the first consent order (Order) involving data privacy since the CFPB’s inception in 2010. The Order serves as a warning to all companies that collect,...more

FDIC Publishes Special Edition of Quarterly Consumer News: A Bank Customer’s Guide to Cybersecurity

On March 8, the FDIC published a special edition of its Quarterly Consumer News entitled, “A Bank Customer’s Guide to Cybersecurity.” The guide provides consumers with, among other things, (i) safety tips for online banking;...more

TCPA Update – FCC Reveals Key Points for Proposed Rules for “Robocalling” to Collect Federal Debt

Last November, in pushing through the Bipartisan Budget Act of 2015, Congress inserted minor amendments to the Telephone Consumer Protection Act (TCPA) to create a new exception to the TCPA’s prohibition on autodialed and...more

FDIC Issues Customer Cybersecurity Guidance

On March 8, 2016, the Federal Deposit Insurance Corporation (“FDIC”) released a special edition of its FDIC Consumer News publication series covering cybersecurity issues impacting banking customers (“Cybersecurity Release”)....more

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