News & Analysis as of

Data Breach

Equifax: The Empire State Strikes Back

Yesterday, New York Governor Andrew M. Cuomo announced that he has directed the Department of Financial Services (DFS) to issue a new regulation requiring “credit reporting agencies to register with” the DFS, as well as...more

Equifax Data Suppliers Urged by DFS to Give Hack “Highest Degree of Attention”

Yesterday, New York’s top financial regulator asked state-chartered banks and insurers to take immediate precautions to protect consumers and the financial markets “in light of the cybersecurity attack” at Equifax Inc....more

Protection of servicemembers, Equifax data breach provide mistaken justifications for CFPB arbitration rule

by Ballard Spahr LLP on

In a mistaken attempt to justify the CFPB’s arbitration rule, supporters are pointing to the need to protect the rights of military servicemembers and the recent Equifax data breach. On September 20, Democratic Senator Jack...more

Defending Breach-Of-Contract Claims In Data-Breach Litigation

by Ellis & Winters LLP on

We’ve previously discussed the “overpayment” theory of injury in data-breach litigation. This theory rests on the premise that the price of a product or service includes a payment for data security measures. When a data...more

UK Government Publishes Draft of the Data Protection Bill

by Reed Smith on

On 14 September 2017, the Government published the long-awaited draft of the Data Protection Bill (the Bill). The Bill was first announced in the Queen’s Speech on 21 June 2017 (see our previous blog) and will incorporate the...more

ICO Sets the Record Straight on Data Breach Reporting Under the GDPR

by Reed Smith on

The latest in the series of blogs from the UK Information Commissioner’s Office (ICO) looks at some of the myths around data breach reporting under the General Data Protection Regulation (GDPR). Given the misleading press...more

The Mintz Matrix – September 2017

As data breaches dominate national headlines it remains important as ever for businesses to invest in security and to be ready to respond if a breach occurs. Part of your preparedness program should be staying current on data...more

Vendor Breaches and Their Implications for Employers

by Littler on

The announcement by Equifax, Inc. that it had been victimized in a hacking incident involving the personal information of 143 million Americans generated headlines this past week. The sheer size of the hack means that most...more

Equifax Week Two: It Keeps Getting Worse

The drumbeat of bad news continues for credit monitoring agency Equifax Inc., after its disclosure on September 7th of a massive data breach – compromising Social Security numbers, dates of birth and other personally...more

Legal Implications and Initial Takeaways from the Equifax Data Breach

On September 7, Equifax, one of three nationwide credit-reporting agencies that compile and evaluate the financial history of consumers, announced that it suffered a security breach in which sensitive information of...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

So…Everyone’s Been Compromised? What To Do In The Wake Of The Equifax Breach

by Dickinson Wright on

By now, you’ve probably heard that over 143 million records containing highly sensitive personal information have been compromised in the Equifax data breach. With numbers exceeding 40% of the population of the United States...more

Global Privacy & Cybersecurity Update Vol. 15

by Jones Day on

UNITED STATES - Regulatory—Policy, Best Practices, and Standards - FTC Comments on Improvements to IoT Device Security - On June 19, the Federal Trade Commission ("FTC") submitted comments to a working group organized by the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The CFPB issued a no-action letter to Upstart Network this week that will allow the online lender to “continue using alternative credit data to evaluate borrowers in exchange for providing data to the federal consumer finance...more

After Equifax: What Should the Public Do?

As we have discussed in previous posts, Equifax Inc. suffered a cybersecurity breach potentially affecting 143 million individuals in the United States. Although Equifax’s investigation is ongoing, the data at risk includes...more

The Biggest Health Care Data Breaches in 2017

Health Data Management (HDM), using information compiled by Protenus Breach Barometer, published a list this week of the biggest health care data breaches so far in 2017....more

The Equifax Breach: Protecting Yourself Against Threats to Your Finances and Identity

On September 7, U.S. credit reporting agency Equifax reported that it had been hacked and more than 140 million people might have had their information stolen. The breach could have global implications: Equifax has stated...more

Equifax Data Breach: Preliminary Lessons for the Adoption and Implementation of Insider Trading Policies | News & Resources

by Dorsey & Whitney LLP on

Insider trading allegations have surfaced at Equifax, a credit rating agency that last week announced a data breach that could potentially affect 143 million consumers in the United States, nearly half of the country’s...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The White House announced its intention yesterday to blocked a China-backed investor from buying American semiconductor maker Lattice over national security concerns. The “rare move” could “signal more aggressive scrutiny of...more

The State AG Report Weekly Update

by Cozen O'Connor on

AG Elections- Democrat Aaron Ford Announces Bid for Nevada Attorney General- Democratic state Senate Majority Leader Aaron D. Ford announced his candidacy to become Nevada AG. He is the first major-party candidate to...more

Here’s a Factor That Can Reduce the Potential for Account Hacks: Cybersecurity Best Practices

by CloudNine on

The data breaches just keep coming.  Equifax is the latest hacking victim to a tune of 143 million US customers – approximately 44 percent of the population.  Perhaps if they, and other organizations recently breached, had...more

Privacy Tip #105 – Data Breach Woes

I spend a lot of time and effort to protect the privacy of my personal information. I am very careful. I have pretty good security hygiene. But I don’t have total control of my personal information and it is frustrating. I am...more

Equifax Breach Affects 143M: If GDPR Were in Effect, What Would Be the Impact?

by Foley & Lardner LLP on

The security breach announced by Equifax Inc. on September 7, 2017, grabbed headlines around the world as Equifax revealed that personal data of roughly 143 million consumers in the United States and certain UK and Canadian...more

Be Smart about Insurance for the Smart Grid: Coverage for Losses from Cyber Events—Part II

by Blank Rome LLP on

In Part I of this two-part series, I identified first-party and third-party insurance claims that could result from a cyber event or attack on the Smart Grid. In this part, I examine how insurance policy language governs...more

Equifax Breach is a Category 5 Incident Affecting You – Our Recommendations on How to Safeguard Your Data

On September 7, 2017, Equifax announced what appears to be the largest breach of consumer data in US history. According to Equifax, it discovered on July 29, 2017 that it had suffered a cyber-attack which lasted from May to...more

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