Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
The attackers behind the vicious ransomware known as GandCrab have made their money (loosely estimated at over $2 billion) and are retiring. Most of us work for a living and then retire, but these guys steal money to retire....more
On August 10, 2018, the Federal Bureau of Investigation (FBI) issued a private warning to banks warning them that cybercriminals are planning to “conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming...more
Bankinfosecurity.com report that “Fraudsters are now gingerly testing the waters in central and Western Europe with attacks that drain cash machines of their funds, according to a trade group that studies criminal activity...more
InterContinental Hotels Group (IHG) has reported a data breach of its payment card processing system. The breach involves malware that infected certain locations between September 29, 2016, and December 29, 2016. The malware...more
The Eighth Circuit Court of Appeals has remanded a $10 million settlement in the Target data breach class action on the grounds that the district court had not rigorously analyzed the propriety of the class certification. ...more
Cybersecurity should always be at the top of any retailer’s priority list—and even more so as the holiday shopping season gets underway. To that end, the Federal Trade Commission’s newly-released Data Breach Response...more
It is said that a chain is only as strong as its weakest link. Often the same is said for an organization’s data privacy & security defensives. Could it be that the ubiquitous ATM machine is the weak link to the banking...more
Omni Hotels notified guests on Friday, July 8, 2016, that its point of sale systems were compromised with malware from December 23, 2015, through June 15, 2016....more
American Thrift Stores announced this week that like other retailers, it has been hit with a security breach “that occurred through software used by a third-party service provider” that allowed “criminals from Easter Europe”...more
Trump Hotel Collection, the high-end hotel chain owned by the billionaire Republican presidential hopeful and real estate developer Donald Trump, has confirmed a data security breach involving malware that the company says...more
As we head into the end of 2015, state legislators across the country continue to strengthen, update and, in some instances, broaden the scope of their respective state data breach notification laws. Specifically, many...more
Although Target has tentatively settled consumer data breach class action claims, the retailer remains in the crosshairs of the plaintiffs’ class action bar. On September 15, a Minnesota federal district court certified a...more
Last Friday, the Seventh Circuit Court of Appeals denied a retailer’s petition for rehearing en banc of a three-judge panel opinion holding that plaintiffs whose credit card information was stolen in a data breach had...more
Companies can be fined by the federal government for failing to properly safeguard consumer data, according to a decision this week by Pennsylvania's federal appellate court....more
Since at least 2005, the Federal Trade Commission has asserted that it may regulate lax data security practices as an “unfair” business practice under Section 5 of the FTC Act. The Wyndham hotel chain was the first to...more
On Monday, the Third Circuit issued a highly anticipated opinion affirming the Federal Trade Commission's authority to regulate "unfair" cybersecurity practices under Section 5 of the FTC Act. In allowing the data breach...more
The U.S. Court of Appeals for the Third Circuit released its much-anticipated ruling in Federal Trade Commission v. Wyndham Worldwide Corp. on August 24, 2015, unanimously upholding the FTC’s authority to regulate companies’...more
Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more
In January 2014, luxury retailer Neiman Marcus disclosed that it had suffered a cyberattack in which hackers may have gained access to 350,000 credit and debit cards used at its stores in late 2013. Plaintiffs, all of whom...more
Everyone remembers the Target Corporation data breach, one of the worst in history. In late 2013, hackers forced their way into Target’s computer system, accessing the information of approximately 70 million customers,...more