Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast
Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
CFPB’s Increasingly Active Interest in Credit Reporting - FCRA Focus Podcast
A critical deadline of March 31, 2025 is upcoming for the full implementation of the new requirements contained in the Payment Card Industry Data Security Standard (PCI DSS) version 4.0....more
Regulatory Developments - FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance - On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more
Join members of McDermott’s Global Privacy & Cybersecurity team and Alan Gutierrez-Arana of Mazars for the next installment in our PCI DSS 4.0 series. PCI DSS 4.0 brings major changes to payments with an increased focus on...more
A recent survey by PricewaterhouseCoopers revealed that U.S. executives now consider cyberattacks the number one risk their companies face. Concerns about cybersecurity have moved beyond the Chief Information Security Office...more
Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more
Amid high-profile cybersecurity breaches that have spurred regulatory action and encouraged compliance revamps, the Fifth Circuit recently ruled that the Insurance Company of the State of Pennsylvania (“ICSOP”) has a duty to...more
Earlier this month, the Eleventh Circuit, in Tsao v. Captiva MVP Restaurant Partners, LLC, No. 18-14959, 2021 WL 381948 (11th Cir. Feb. 4, 2021), affirmed the dismissal of a class-action lawsuit brought on behalf of patrons...more
Last week, in a 26-page opinion, the 11th U.S. Circuit Court of Appeals weighed in on two questions crucial to the viability of privacy and data breach litigation in federal court—and perhaps even in general. First, does a...more
The travel giant Sabre Corp. has reached an agreement with multiple State Attorneys General to pay $2.4 million and make certain changes in its cybersecurity policies to settle a multi-state investigation into a 2017 data...more
We join the nation in mourning the passing of Supreme Court Justice Ruth Bader Ginsburg. Over her 20-year career before appointment to the D.C. circuit court, Justice Ginsburg fought for equal rights in the workplace, among...more
The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more
Three million fraud cases were reported to the FTC in 2018, and 444,602 of them involved identity theft. These reported cases (just think of how high the statistic would be if all cases were reported) amounts to the third...more
Louisiana Governor John Bel Edwards activated the State’s cybersecurity team recently after several State offices’ computers started acting strangely. The IT team identified an intrusion of Ryuk ransomware and which programs...more
Approximately 3,000 customers of the Fort Worth Water Department were notified recently that their credit card information may have been compromised as a result of a data breach suffered by its vendor, Click2Gov....more
Today, it seems hardly a month passes without a report of another business falling victim to a data breach. Over the past few years, some of the largest and well-known companies such as Equifax, Target, Home Depot, TJ Maxx,...more
Security research firm Gigamon has reported that the nasty cybercriminal group FIN8 may have reappeared in June after a two-year silence. FIN8 is known for implementing malware on point of sale systems to steal credit card...more
Security research firm Gigamon has reported that the nasty cybercriminal group FIN8 may have reappeared in June after a two year silence. FIN8 is known for implementing malware on point of sale systems to steal credit card...more
In this month's edition of our Privacy & Cybersecurity Update, we reflect on the GDPR's one-year anniversary while also examining the EU's new Cybersecurity Act. We also take a look at HHS' new guidance on direct liability of...more
LockerGoga Ransomware Hits Manufacturer and Chemical Companies - In the last two weeks, ransomware dubbed LockerGoga has attacked aluminum manufacturer Norsk Hydro, which announced that as a result of the attack, it had...more
The French Data Protection Authority, CNIL, issues guidance on credit card data in remote transactions: Merchants who collect credit card detail to facilitate a transaction, need the consent of their customers to keep...more
Marriott International Inc. (Marriott) has released new numbers relating to its Starwood Hotel’s reservation database by stating that more than 5 million passport numbers were stolen in the database. ...more
Class Actions - Plaintiffs Seek Approval for $4.3 Million Settlement With Sonic in Credit Card Data Breach Suit • Following a variety of lawsuits against fast food chain Sonic Drive-In related to a 2017 credit card data...more
Last week, the U.S. Court of Appeals for the Eighth Circuit affirmed the district court’s approval of a $17 million settlement between Target Corp. and consumers whose credit card data was compromised in the 2013 data breach....more
We recently commented on one hotly contested legal issue being addressed by the courts in data breach class action litigation, that of plaintiffs’ standing. Another issue that has been the subject of recent court activity in...more