Science, Computers & Technology, Privacy, Finance & Banking

Big Incentives for Investments in Cybersecurity

by Javier Siervo | Berkeley Research Group, LLC on 5/17/2013

Recently, Maryland Governor Martin O’Malley signed into law the Cybersecurity Investment Incentive Tax Credit. The credit is to be used against the state income tax of a Maryland cybersecurity company. To be eligible for the...more

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

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 3, 2013

by BuckleySandler LLP on 5/6/2013

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

D.C. Developments on the Cybersecurity Front – UPDATE

by Cynthia Larose, Heidi A. Lawson | Mintz Levin - Privacy & Security on 4/12/2013

UPDATE: The House Permanent Select Committee on Intelligence passed the Cyber Intelligence Sharing and Protection Act (CISPA) this afternoon. The vote was 18 in favor and two (Adam Schiff (D-CA) and Jan Schakowsky (D-IL))...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

Final Red Flags Rules Adopted By SEC And CFTC

by David Jenson | Leonard, Street and Deinard - Dodd-Frank and... on 4/11/2013

Today the CFTC and the SEC jointly issued final rules that require regulated entities to adopt programs designed to prevent identity theft – so-called “red flags” rules....more

Cybersecurity Disclosure: A Panel Discussion with the SEC’s Division of Corporation Finance

by Mintz Levin - Privacy & Security on 4/9/2013

Last week in Washington, D.C., this author had the opportunity to sit in on a panel discussion by the SEC’s Division of Corporation Finance (“CorpFin”) discussing, among other things, recent developments in cybersecurity...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

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

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

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

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

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Science, Computers & Technology › Privacy › Finance & Banking