Episode 108 -- The Capital One Data Breach and Vendor Cybersecurity Risks
When federal agencies review bank mergers, the competition issues typically relate to the number and location of physical branches and the extent of any overlap in the areas served. By contrast, the proposed $35 billion...more
This week’s Update features a wide variety of topics – Hopper, Capital One vacation rentals, Expedia layoffs and Hilton campgrounds....more
This week’s Update features a variety of stories, including an update on the major online booking platforms’ latest quarterly marketing efforts. Highlights include...more
Happy New Year! We are once again providing a roundup of some of the major developments and trends in the online travel industry that caught our attention this past year. Wishing everyone a successful 2023....more
Good Sunday afternoon from Seattle . . . Our weekly Online Travel Update for the week ending November 11, 2022, is below. Booking Holdings features prominently in this week’s Update as its planned acquisition of Etraveli...more
Three of the four stories we feature in this week’s Update detail recent or ongoing examinations by competition regulators of the trade practices of several online travel platforms. Relatedly, we also include again a link to...more
Hackers have increasingly focused on third-party vendors as avenues to data held by associated businesses. On August 25, 2022, DoorDash announced that it had experienced a data breach which impacted the personal...more
Paige Thompson, a former Amazon Web Services employee, was recently convicted of seven counts of fraud in U.S. District Court for stealing personal data from more than 100 million customers from unsecured accounts stored on...more
As part of Manatt’s continuing monthly coverage of the aftermath of Facebook v. Duguid and how district courts are applying it to determine whether a calling system meets the Supreme Court’s newly clarified definition of an...more
Last week’s Update features stories on two less frequently used social media platforms – Instagram and Snapchat – and details the brewing battle among banking companies for travel industry legitimacy. I hope you enjoy....more
•New York AG Letitia James led a coalition of 18 AGs in calling on several of the nation’s largest banks to eliminate overdraft and overdraft-related fees. •In letters to the CEOs of Bank of America, JPMorgan Chase, U.S....more
The saga of the Capital One data breach, which impacted an estimated 106 million individuals in the U.S. and Canada, may soon be coming to an end. After more than two years of litigation, the parties have reached a settlement...more
Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more
Supreme Court of Virginia Declines Certified Questions from Federal Court in In re: Capital One Consumer Data Security Breach Litigation - The lawsuit In re: Capital One Consumer Data Security Breach Litigation, has already...more
This week’s Update again features a number of stories on fintech and its emerging influence on the travel and lodging industries. Enjoy....more
The Federal Trade Commission (“FTC”) reached a settlement with Richard Fairbank, CEO of Capital One Financial Corp. (“Capital One”), to resolve allegations that he failed to report a windfall generated by his acquisition of...more
Another district court just ordered the defendant in a data breach class action to turn over the forensic report it believed was entirely protected from disclosure by the attorney-client privilege and work product doctrine....more
As the financial services industry prepares for expanded criminal and civil enforcement under the Bank Secrecy Act (“BSA”) with the passage of the Anti-Money Laundering Act of 2020, FinCEN’s recent case against Capital One...more
In ongoing multidistrict litigation concerning Capital One’s 2019 data breach, Capital One succeeded in defeating a motion to compel disclosure of a privileged root cause analysis conducted by PwC. In contrast to an earlier...more
In a harbinger of future enforcement actions surrounding AML compliance program violations, the Treasury Department’s The Financial Crimes Enforcement Network announced a $390 million settlement with Capital One for...more
Markets gave a warm welcome to the Biden administration on Wednesday, as strong tech performance and hopes of “large-scale economic stimulus” helped power an across-the-board rally that brought all three major U.S. indices...more
Fiat Chrysler and France’s PSA Group completed their mega-auto-merger first agreed-to in late 2019, “creating Stellantis NV, a global auto-making giant that executives say will have the heft needed to compete in the...more
House Financial Services Committee Sets Fintech Priorities for a New Administration - House Financial Services Committee Chairwoman Maxine Waters sent a letter to the incoming administration with nearly 50 pages of...more
In yet another blow to the suffering movie theater industry, Warner Bros. announced on Thursday that all of its 2021 release calendar—including “big-budget extravaganzas like ‘Dune’ and ‘The Matrix 4’”—will arrive...more
In the most recent development in Cohen v. Capital One Funding LLC, a case seeking to certify a class asserting that New York State’s usury laws can apply to securitized credit card debts, Capital One-affiliated defendants...more