Privacy, Finance & Banking, Civil Remedies

FTC: Data Brokers That Compile Tenant Data May Be Covered by FCRA

by Jeff Ifrah on 5/6/2013

On April 3, 2013, the Federal Trade Commission issued a press release that marks yet another step in its continuing trend of actions involving data brokers and data providers. As we have noted in earlier blog posts, the...more

Missouri Court Rules Against $440,000 Cyberheist Victim

by Bernstein Shur on 4/22/2013

A Missouri court last week handed a legal defeat to a local escrow firm that sued its financial institution to recover $440,000 stolen in a 2009 cyberheist. The court ruled that the company assumed greater responsibility for...more

Burr Alert: Blowing The Cap Off Statutory Damages Under The FCCPA?: An Analysis Of Kahmeyer v. Federal Credit Corporation

by John Chiles, Kristin Peters | Burr & Forman on 4/15/2013

In Kahmeyer v. Federal Credit Corporation, the 13th Judicial Circuit in Hillsborough County, Florida released an opinion that has given new life to the argument that each violation of the Florida Consumer Collection Practices...more

Court Holds that Hannaford Data Breach Suit Cannot Proceed as Class Action

by Ropes & Gray LLP on 3/29/2013

On March 20, 2013, the United States District Court for the District of Maine denied a motion brought by plaintiffs in In re Hannaford Brothers Company Data Security Breach Litigation that would have allowed the suit to...more

Zip Code Requests Off-Limits in Massachusetts Credit Card Transactions

by Martin Bishop, Thomas I. Elkind, Michael Lueder | Foley & Lardner LLP on 3/21/2013

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

Retailers Beware: Massachusetts Court Restricts Ability To Collect ZIP Codes At Point Of Sale

by Amanda Beane, Thomas (Tom) C. Bell, Miriam Farhi | Perkins Coie on 3/19/2013

The Supreme Judicial Court of Massachusetts recently held that collecting a consumer's ZIP code at the point of sale may violate Massachusetts General Laws Chapter 93, Section 105(a) (Section 105(a)), which restricts the...more

Retail Customers Obtain Unusually Favorable Settlement In Zip Code Collection Case

by BuckleySandler LLP on 1/23/2013

On January 11, the U.S. District Court for the Northern District of California approved a settlement between a retailer and a class of customers to resolve allegations that the retailer violated the California Song-Beverly...more

CFPB's Regulatory Agenda - 2013

by Jonathan Foxx on 1/8/2013

As we begin a new year and prepare ourselves for the blizzard of new and revised regulations coming our way, I think it is important for us to consider the regulatory agenda that the Consumer Financial Protection Bureau...more

Bank Agrees to Reimburse Company for Funds Taken Through Online Bank Account Theft

by Craig Hoffman | BakerHostetler on 12/6/2012

We reported in July on a First Circuit Court of Appeals decision finding that a bank failed to implement commercially reasonable security methods to prevent unauthorized transfers by a criminal that gained the online banking...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

When Banks Are on the Hook for Cybertheft

by Bernstein Shur on 12/5/2012

This Wall Street Journal Article features Bernstein Shur Attorney Dan Mitchell. Banks typically are responsible for losses when personal accounts are hacked. But commercial clients that fall victim to cyber theft have...more

After Sanford company’s money stolen, court rules banks are responsible if hacked

by Bernstein Shur on 12/5/2012

This BDN Maine article features Bernstein Shur Attorney Dan Mitchell. SANFORD, Maine — A recent court ruling involving a Sanford construction company and its bank could have nationwide implications as attorneys and...more

The Tale of Two Banks: Final Settlement in Maine Bank Security Practices Case and a Failure of Bank Security Procedures in Florida

by Mintz Levin - Privacy & Security on 12/5/2012

In a case that we have written about, People’s United Bank of Maine has agreed to pay about $ 390,000 to settle a claim that its security practices allowed unauthorized persons to withdraw funds from a construction company’s...more

Bank Agrees to Reimburse Hacking Victim $300K in Precedent-Setting Case

by Bernstein Shur on 12/4/2012

This Wired Magazine article features Bernstein Shur Attorney Dan Mitchell. In a case watched closely by banks and their commercial customers, a financial institution in Maine has agreed to reimburse a construction...more

Bank Agrees to Settle Suit Over Cyber Security Procedures

by BuckleySandler LLP on 12/3/2012

On November 19, a bank sued by a commercial account holder to recover funds lost after cyber attackers gained electronic access to its account and made a series of unauthorized withdrawals reportedly agreed to pay the...more

Elizabeth Warren's Interview

by Jonathan Foxx on 11/13/2012

In July 2011, I published my interview of Elizabeth Warren, entitled Opening a Dialogue: Elizabeth Warren and the Mortgage Industry.* I have been told that this interview is one of the last published interviews of Mrs....more

Alternative Trading System Agrees to Pay $800K for Failure to Protect Confidential Information

by Proskauer Rose LLP on 10/31/2012

Earlier this month, the Securities and Exchange Commission (“SEC”) instituted public administrative and cease and desist proceedings against eBX, LLC (“eBX”), a broker-dealer registered with the SEC. eBX operates LeveL ATS,...more

CFPB's Five Year Strategic Plan

by Jonathan Foxx on 10/22/2012

Recently, the Consumer Financial Protection Bureau (CFPB) published for comment on its website its draft Strategic Plan for 2013 - 2018 (Plan). According to the CFPB, the plan includes the following four goals: (1)...more

Door to Increased Liability for Banks Opened by U.S. Court of Appeals for the First Circuit

by Proskauer - Privacy & Data Security on 7/20/2012

The United States Court of Appeals for the First Circuit has opened the door to increased liability for banks when hackers make fraudulent withdrawals....more

Court Rules on What is “Commercially Reasonable” Bank Security

by Mintz Levin - Privacy & Security on 7/19/2012

Small business owners have new hope that they may be on the same footing as individuals when it comes to cybertheft from their bank accounts. ...more

First Circuit Holds Bank May Be Liable For Customer Losses from Cyber Attacks

by BuckleySandler LLP on 7/18/2012

On July 3, the U.S. Court of Appeals for the First Circuit became the first federal appellate court to address the issue of bank liability for the loss of customer funds resulting from a breach of a bank’s cyber security,...more

Recent Credit Card Data Breach Once Again Demonstrates Need for Insurance Coverage

by Gilbert LLP on 6/7/2012

The recent data breach at Global Payments Inc., which has contracts to handle the processing of credit and debit card transactions, has again focused attention on the significant risk associated with storing or transmitting...more

Credit Processor Pays $1 Million for Data Breach

by Lawyers.com on 4/19/2012

Think your credit card information is secure? Think again. Last month, Heartland Payment Systems, a national credit processor, settled a class action lawsuit to the tune of $1 million after a staggering 130 million credit...more

FTC Issues New Consumer Privacy Guidelines

by Jonathan Foxx on 4/6/2012

In this article, we will take a brief look at consumer privacy protection updates at the Federal Trade Commission (FTC), the watchdog enforcement agency charged with protecting consumer privacy, issued a sweeping revisions to...more

CFPB: Treatment of Privileged Information

by Jonathan Foxx on 3/20/2012

On March 12, 2012, the Bureau of Consumer Financial Protection (CFPB) announced proposed amendments to the confidential treatment of information obtained from persons in connection with its exercise of authorities under...more

Home

Legal News

Find a Lawyer

Browse Subjects

Subscribe

Pro Services

For Reporters

Privacy › Finance & Banking › Civil Remedies