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D.C. Circuit TCPA Decision Gives Industry Partial Victory But No Certainty

The decision last week of the U.S. Court of Appeals for the D.C. Circuit ruling on petitions seeking review of the Federal Communications Commission’s (the “FCC”) 2015 Declaratory Ruling and Order (the “2015 Ruling”)...more

Senate Passes Banking Bill Providing Dodd-Frank Relief

The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. Although the Act would not make the sweeping changes to the Dodd-Frank Act found...more

FTC Releases “Best Practices” to Improve Mobile Device Security

On February 28th, the Federal Trade Commission (“FTC”) released a report that offers several recommendations on ways to improve the security of mobile devices. ...more

FTC Releases Annual Privacy and Data Security Update

The FTC has released its annual report summarizing its activity during 2017 relating to privacy and data security issues.  In its self-declared role as “the nation’s primary privacy and data security enforcer,” the FTC...more

OCC Report Identifies Cybersecurity and AML as Key Risks for Federal Banking System

Last week, the OCC released its semiannual risk report highlighting credit, operational, and compliance risks to the federal banking system. The report focuses on issues that pose threats to those financial institutions...more

Court Denies English’s Preliminary Injunction Motion; Mulvaney Continues to Exercise Acting CFPB Director Authority

Wednesday, U.S. District Court Judge Timothy J. Kelly denied Leandra English’s motion for a preliminary injunction in a 46-page opinion. English had sought to block President Trump’s appointment of Mick Mulvaney to serve as...more

New York Regulation of Consumer Reporting Agencies Following Data Breaches

This week, New York Governor Andrew Cuomo issued a press release directing the New York Department of State to issue a new regulation impacting consumer reporting agencies....more

CUNA supports Mulvaney as Acting CFPB Director

On December 12, the Credit Union National Association (“CUNA”) filed an amicus brief in D.C. Federal District Court. In the brief, CUNA opposes Leandra English’s motion for a preliminary injunction. English seeks to block...more

CFPB releases consumer protection principles for consumer-authorized sharing of financial information

The CFPB has released a set of “Consumer Protection Principles” for participants “in the developing market for services based on the consumer-authorized use of financial data.”...more

FTC to hold workshop on informational injury

The FTC has announced that it will host a workshop on December 12, 2017 in Washington, D.C. to examine consumer injury in the context of privacy and data security....more

FTC Provides Guidance to Social Media Influencers in Live Twitter Chat

Influencer marketing is the popular practice of using individuals with large social media audiences—known as "influencers"—to advertise products and services through their social media accounts....more

NYDFS Proposes Regulation of Consumer Reporting Agencies

Last week, New York Governor Andrew Cuomo issued a press release directing the New York Department of Financial Services (“NYDFS”) to impose new rules on consumer reporting agencies (“CRAs”). The proposed regulation would...more

FTC Settles GLBA Enforcement Action Against TaxSlayer Stemming From 2015 Data Breach

The Federal Trade Commission (FTC) this week announced a consent order with TaxSlayer, LLC, an online tax preparation services provider, to settle claims that the company violated the Gramm-Leach-Bliley Act (GLBA) Safeguards...more

Uber Settles FTC Dispute Over Consumer Data Privacy and Security Allegations

There are several key takeaways from a 20-year proposed consent order agreed to by Uber Technologies, Inc. (Uber) and the Federal Trade Commission (FTC)...more

FTC Announces Improvements to its Investigation Process

On July 17th, the Federal Trade Commission (FTC) announced reforms to its civil investigative demand (CID) process designed to streamline information requests and improve transparency in FTC investigations.  The process...more

NYDFS Updates FAQs to Clarify Cybersecurity Regulations

The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more

House Appropriations Bill Seeks CFPB Reforms

Yesterday, the House Appropriations Committee’s Subcommittee on Financial Services and General Government will mark up its draft fiscal year 2018 appropriations bill. The draft bill contains multiple provisions to reform the...more

Ponemon Institute Study on Costs of Data Breaches Highlights Improvement and New Risks for U.S. and Global Companies

The average cost of a data breach, on both an aggregate and a per-record basis, has decreased slightly according to the Ponemon Institute's 2017 Cost of Data Breach Study: Global Overview. In addition to presenting recent...more

DocuSign Breach a Strong Reminder for the Mortgage Industry to Manage Third-Party Service Provider Risks

On May 16, DocuSign confirmed that a data breach resulted in widespread malware phishing attacks targeting its customers. DocuSign provides electronic signature solutions for many companies in the mortgage banking industry...more

White House Issues New Cybersecurity Executive Order

President Trump recently signed the Presidential Executive Order on Strengthening the Cybersecurity of Federal Networks and Critical Infrastructure. The Order sets forth the Trump Administration's policy for cybersecurity of...more

FTC Privacy and Data Security Enforcement Activity Continues Unabated under the Trump Administration

Last week, the Federal Trade Commission (FTC) Bureau of Consumer Protection’s Acting Director, Thomas Pahl, posted on the FTC’s Business Blog about the FTC’s role as the federal agency with the “broadest jurisdiction” to...more

New Mexico becomes 48th state to enact data breach notification law

New Mexico recently became the 48th state to enact a data breach notification law. This continues the accelerated pace of state data breach legislative activity in the last two years. Since 2015, at least 41 states have...more

CFPB settles with consumer reporting agency for alleged UDAAP/FCRA violations

The CFPB announced that it has entered into a consent order with Experian, a consumer reporting agency, for allegedly engaging in the deceptive marketing of credit scores in violation of the Consumer Financial Protection...more

CFBP Releases Special Edition of its Supervisory Highlights Focusing on Consumer Reporting

The CFPB recently released a “Special Edition” of its Supervisory Highlights that focuses exclusively on data accuracy issues in consumer credit reporting and the handling and resolution of consumer disputes. The report...more

Collection Letter Containing Check Box To Dispute Debt Created Potential FDCPA Claims, Federal Court Rules

A collection letter potentially violated the Fair Debt Collection Practices Act (FDCPA) because a box the plaintiff could check to indicate she disputed the validity of the debt was accompanied by a statement that a reason...more

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