Privacy Consumer Protection Finance & Banking

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Target Proposed $19 Million Data Breach Settlement Falters As Banks Push Back

Banks have stymied an out-of-court settlement reached between Target Corp. and MasterCard in the multi-district litigation over Target’s massive data breach during the 2013 holiday season. MasterCard, who has estimated that...more

FINRA settles data breach enforcement action

The Financial Industry Regulatory Authority (FINRA) agreed to settle its enforcement action with Sterne Agee & Leach, Inc. (Sterne) this week for $225,000. The enforcement action followed the loss of an unencrypted laptop by...more

Privacy Policy Impacts RadioShack’s Sale of Customer Information

On April 10, 2015, RadioShack, and certain affiliated debtor entities, proposed a bankruptcy sale of certain assets, including Personally Identifiable Information (“PII”). Deposition testimony in the case revealed that, over...more

OPC’s New Priorities – Commissioner Therrien Provides an Overview

On May 28, 2015 Daniel Therrien, Canada’s Federal Privacy Commissioner, previewed the OPC’s priorities for attendees of the International Association of Privacy Professionals (IAPP) Canada Privacy Symposium. These...more

RadioShack bankruptcy court approves sale of personal information collected by debtor

Earlier this year, an affiliate of the hedge fund Standard General LP assumed more than 1,700 RadioShack® store leases in an auction sale in the electronics retailer’s bankruptcy. Standard General reportedly plans to partner...more

Target Data Breach Settlement

On November 30, 2013, I stopped at Target to purchase a birthday gift for my friends’ one-year-old daughter. Little did I know that I would be exposed to one of the largest data breaches in retail history. Fortunately, my...more

Shelby regulatory relief bill would create GLBA annual privacy notice exception

In addition to the numerous mortgage-related provisions in Senator Shelby’s regulatory reform bill entitled the “Financial Regulatory Improvement Act of 2015,” the bill contains a provision directed at the annual financial...more

Democrats release alternative regulatory relief bill

Democrats on the Senate Banking Committee have released a regulatory relief bill intended to be an alternative to the bill released by Senator Richard Shelby. While Senator Shelby’s bill is entitled the “Financial Regulatory...more

PCI SSC Releases Version 3.1 of Data Security Standard

On April 15, 2015, the Payment Card Industry Security Standards Council (the “PCI SSC” or “Council”) released a new version of its Data Security Standard (“PCI DSS”), version 3.1, which contains numerous updates including,...more

The FFIEC Warns Financial Institutions of the Dangers of Cyberattacks Involving Destructive Malware

On March 30th, the Federal Financial Institutions Examination Council (FFIEC) issued two Joint Statements on behalf of its members to warn financial institutions about the threats posed to various credentials by cyberattacks...more

Advertising Law - May 2015 #3

U.S. Supreme Court Could Decide Future of Privacy Law Class Actions - The future of consumer class actions alleging privacy violations may be in the hands of the U.S. Supreme Court now that the justices have granted...more

Significant Song-Beverly Developments Continue—Court of Appeal Signals it May Be Ready to Articulate a Bright Line Test of When a...

On May 13, the California Court of Appeal heard oral arguments for Harrold v. Levi Strauss, a case involving the question of whether a retailer violates the Song-Beverly Credit Card Act (“Song-Beverly”) by requesting a...more

Privacy Monday – May 18, 2015

It’s Monday morning — do you know your privacy/security status? Here are a few bits and bytes to start your week. SEC to Registered Investment Advisers and Broker-Dealers: It’s Your Turn to Pay Attention to...more

Do You Have a Data Breach Response Plan? U.S. Department of Justice Thinks You Should

In the wake of significant retailer data breaches in 2013 and 2014, and additional significant breaches continuing in 2015, a trend is clearly developing — an expectation of proactive risk identification and mitigation from a...more

The BakerHostetler Data Security Incident Response Report 2015

The rate of disclosures of security incidents in 2015 continues at a pace that caused many to call 2013 and then 2014 “the year of the breach.” Most incidents are described publicly with attention-grabbing terms such as...more

2015 BakerHostetler Incident Response Report Deeper Dive—Retailer Liability Arising from Stolen Payment Cards

We released the inaugural BakerHostetler Data Security Incident Response Report, which provides insights generated from the review of more than 200 incidents that our attorneys advised on in 2014. Over the next four weeks, we...more

California’s Song-Beverly “Consumer Perception Test” in Jeopardy — Will Retailers in California Be Barred from Requesting Any...

On May 5, 2015, the Ninth Circuit certified for the California Supreme Court the issue of whether the Song-Beverly Credit Card Act (“the Act”) prohibits retailers from requesting a customer’s personal information at the...more

Important Breaking Development: California’s Song-Beverly “Consumer Perception Test” in Jeopardy — Will Retailers in California Be...

On May 5, 2015, the Ninth Circuit certified for the California Supreme Court the issue of whether the Song-Beverly Credit Card Act (“the Act”) prohibits retailers from requesting a customer’s personal information at the...more

Senate Democrats offer Consumer Privacy and Protection Act of 2015

Senate Democrats, led by Senate Judiciary Committee Ranking Member Patrick Leahy of Vermont, introduced legislation on April 30, 2015 directed to online consumer privacy and data protection. The Consumer Privacy and...more

When is a Background Search not a Background Search?

The Fair Credit Reporting Act (FCRA) was enacted to insure that consumer reporting agencies act with “fairness, impartiality, and respect for the consumer’s right to privacy.” But one federal court held recently that...more

FDIC OIG Publishes Results of Audit of Personally Identifiable Information in Owned Real Estate Properties

On April 28, the FDIC’s Office of the Inspector General published a report – The FDIC’s Controls for Identifying, Securing, and Disposing of Personally Identifiable Information in Owned Real Estate Properties – regarding its...more

Washington Enacts Legislation Strengthening Data Breach Notification Requirements

On April 23, Washington Governor Jay Inslee signed bill H.R.1078, which requires covered entities to contact consumers living within the state as soon as possible, and no more than 45 days, after the discovery of a breach of...more

Locke Lord QuickStudy: Investment Advisers Should “Beef Up” Cybersecurity Strategies - SEC Issues Updated Guidance

Registered investment advisers should periodically assess their cybersecurity vulnerabilities, create strategies to respond, and make sure they are making the strategies work. ...more

SCOTUS Accepts Certiorari to Address Article III Standing in “No-Injury” FCRA Class Action

On April 27, the Supreme Court accepted certiorari review in Spokeo, Inc. v. Robins, 13-1339, to address whether consumers can establish Article III standing without actual harm or injury, by alleging a violation of a federal...more

Spokeo, Inc. v. Robins: Supreme Court to Decide Class Action Standing Issue

The U.S. Supreme Court recently granted certiorari in Spokeo, Inc. v. Robins, No. 13-1339 (SCOTUSblog page), to decide whether a plaintiff who does not suffer any injury has Article III standing to sue for violation of a...more

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