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Finance & Banking Privacy Antitrust & Trade Regulation

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

The FTC Case against EquiFax Inc.

by Revision Legal on

In early September of 2017, it was reported that Equifax Inc., one of the country’s three leading credit reporting services, was subject to a cyberattack that resulted in the access by the hackers of financial and personal...more

Client Alert: FTC Gives Guidance in Slaying the Data Breach Dragon

The FTC has recently provided specific guidance on what it considers appropriate data breach protection activity by financial institutions. Such guidance came by virtue of a proposed consent order, dated August 29, 2017,...more

“GLB” and What it Means for Auto Dealers

by Fisher Phillips on

Developing an information security program is good business, and for auto dealers that are considered “financial institutions” under the Gramm-Leach-Bliley Act (GLB) it is the law. As part of the GLB, the Federal Trade...more

Advertising Law - July 2017

Court Rules That ADA Applies to Website - In what is believed to be the first court to hold a trial on the applicability of the Americans with Disabilities Act (ADA) to a retailer’s website, a federal court judge in...more

Federal court upholds FTC opinion applying TSR robocall consent requirement to calls made using soundboard technology

by Ballard Spahr LLP on

A D.C. federal district court has rejected a trade group’s attempt to invalidate a November 2016 FTC opinion in which the agency concluded that outbound telemarketing calls made using soundboard technology are subject to the...more

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

by Ballard Spahr LLP on

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

Legal Issues Business Leaders Need to Know in 2017

by Arnall Golden Gregory LLP on

Expanding wage and hour obligations will continue to be a top concern for employers in 2017. As most employers are aware, in May 2016, the United States Department of Labor issued its long-awaited final rule regarding the...more

FTC Hosts FinTech Forum on Artificial Intelligence and Blockchain Technologies, Part II

by Hogan Lovells on

As previously reported, on Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This is the...more

FTC Hosts FinTech Forum on Artificial Intelligence and Blockchain Technologies

by Hogan Lovells on

On Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This was the FTC’s third forum on...more

"Despite Aversion to Regulation, Trump May Expand Cybersecurity Efforts"

President Donald Trump’s statements to date on regulation in general and cybersecurity regulation in particular suggest a conflict between his desire to strengthen the country’s cybersecurity efforts and his general antipathy...more

"Privacy & Cybersecurity Update - October 2016"

In this edition of our Privacy & Cybersecurity Update, we take a look at the FCC's new rules for broadband privacy, the FTC's new playbook for data breach response and notification, the NHTSA's voluntary guidance for...more

Lessons from the Wells Fargo Scandal

by Robins Kaplan LLP on

Financial institutions must meet standards for safeguarding customer data given the particularly sensitive information they hold, and regulators have been stepping up their efforts to provide guidance on just how they must do...more

Cybersecurity News and Notes - September 2016

In Case You Missed It: The Federal Trade Commission has opened a public comment period to evaluate its Safeguards Rule (16. C.F.R. § 314.3). Under the Gramm-Leach-Bililey Act (GLBA), which regulates financial institutions,...more

FTC Requests Comments on Safeguards Rule

The Federal Trade Commission (FTC) issued a press release on August 29, 2016, indicating that it is seeking comments on the Standards for Safeguarding Customer Information, applicable to financial institutions....more

FinTech Companies Face Big Privacy Challenges in 2016

by Mintz Levin - Mintz Edge on

According to the FBI, “there are only two types of companies: those that have been hacked and those that will be.” It does not take an actual data breach, however, for a company to be liable for its data security practices. ...more

FTC Backs FCC’s Proposed Rule on TCPA Amendments for Calls Collecting Government Debt

by Ballard Spahr LLP on

The Federal Trade Commission's (FTC) Bureau of Consumer Protection issued a Staff Comment on June 16, 2016, supporting several of the Federal Communication Commission's (FCC) proposed regulations implementing amendments to...more

CFPB Brings First Data Security Enforcement Action

The Consumer Financial Protection Bureau (CFPB) recently brought its first data security enforcement action, adding itself to the growing list of federal regulators tackling data security issues. The CFPB’s enforcement action...more

FTC Highlights FDCPA Risks for Debt Collectors Using Social Media, Texts

by Ballard Spahr LLP on

The Federal Trade Commission (FTC) recently published a reminder to debt collectors of the Fair Debt Collection Practices Act (FDCPA) compliance risks that are created by the use of social media or text messages in connection...more

FTC Launches Study of Assessment Process for Payment Card Industry Data Security Standards

by Ropes & Gray LLP on

On March 7, the FTC announced a study of Payment Card Industry Data Security Standard (“PCI DSS”) assessments – the audits required of certain merchants pursuant to rules imposed by payment card brands such as Visa and...more

FTC Announces Study of PCI-DSS Assessment Companies

by Alston & Bird on

On Monday, March 7 the Federal Trade Commission (FTC) issued a press release announcing that it had issued Orders to nine Qualified Security Assessor (QSA) companies, which are certified to assess whether or not entities...more

FTC issues 9 orders for PCI DSS compliance assessment information

The Federal Trade Commission (FTC) issued orders to 9 companies at the beginning of this week, seeking information on how each company conducts Payment Card Industry Data Security Standards (PCI DSS) compliance assessments....more

FTC Requests Auditors’ Data on PCI Data Security Assessments

by Kelley Drye & Warren LLP on

Earlier this week, the FTC issued orders to nine credit card and payment security auditors in an effort to gain insight into data security compliance auditing and its role in protecting consumers’ information and privacy....more

FTC Examines Process by which Companies Assess Compliance with PCI DSS

by Ballard Spahr LLP on

The Federal Trade Commission (FTC) has issued orders to obtain information about the process by which businesses audit their compliance with the Payment Card Industry Data Security Standards (PCI DSS) and the role of such...more

Data brokers settle with FTC for selling consumers’ information to scammers

SiteSearch, John Ayers, LeapLab and Leads Company (the defendants) settled with the Federal Trade Commission (FTC) for “knowingly provid[ing] scammers with hundreds of thousands of consumers’ sensitive personal information.”...more

FTC Settles Claims Against Group Of Data Brokers Dealing In Personal Information

by King & Spalding on

The Federal Trade Commission (“FTC”) announced on February 18 that it has reached settlements with three affiliated companies accused of selling the financial and other personal information of “hundreds of thousands” of...more

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Cybersecurity

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