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Data Security Consumer Financial Protection Bureau (CFPB) Personally Identifiable Information

Buchalter

The CFPB Expands Its UDAAP Authority Further Into Data Security Issues

Buchalter on

Continuing a trend it has been pursuing, the CFPB on Thursday used a non-rulemaking circular (Consumer Financial Protection Circular 2022-04) to state that its UDAAP authority extends its enforcement authority to situations...more

Proskauer - The Capital Commitment

Privacy in the Time of Pandemic: COVID-19 Provides Opportunity to Revisit Regulation S-P Privacy Policies

With more people working remotely than ever before in light of COVID-19, firms in the private equity and hedge fund space should review their Regulation S-P privacy and information-safeguarding policies to ensure they are...more

Alston & Bird

The Digital Download – Alston & Bird’s Privacy & Data Security Newsletter – October 2018

Alston & Bird on

Features - International Updates (Excluding the EU) - India’s Draft Data Protection Bill: Another GDPR Around the Corner? India recently introduced the Personal Data Protection Bill 2018. ...more

Fisher Phillips

The Freeze Is On: Employers Must Immediately Update Background Check Forms

Fisher Phillips on

There is a little-known provision from a new federal law that will most likely impact your hiring practices and your standard hiring documents—and it kicked in last Friday. As of September 21, all employers must update their...more

Ballard Spahr LLP

CFPB Resumes Collection of Personally Identifiable Information for Examinations

Ballard Spahr LLP on

CFPB Acting Director Mick Mulvaney reportedly announced on Thursday that he was lifting the freeze on the CFPB’s collection of personally identifiable information (PII) from companies it supervises. ...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - December 2017

Robinson & Cole LLP on

The Consumer Financial Protection Bureau (CFPB), one of the watchdogs of the financial services industry, has announced through Acting Director Mick Mulvaney that it will no longer collect personal information of consumers...more

Robinson+Cole Data Privacy + Security Insider

CFPB Stops Collecting Personal Information in Light of Cybersecurity Concerns

The Consumer Financial Protection Bureau, one of the watchdogs of the financial services industry, has announced through Acting Director Mick Mulvaney, that it will no longer collect personal information of consumers due to...more

Bradley Arant Boult Cummings LLP

Parallel Universe or Coincidence: The CFPB’s New Data Consumer Protection Principles’ Relationship to GDPR

On October 18, 2017, the Consumer Financial Protection Bureau (CFPB) outlined nine non-binding Consumer Protection Principles (the Principles) for the access and sharing of consumer information between third-party companies....more

Mintz

Equifax Breach: Three Takeaways from the First Four Days

Mintz on

On September 7, 2017, Equifax, one of the three large credit reporting bureaus, announced a cybersecurity incident impacting approximately 143 million U.S. consumers. According to Equifax, the breach occurred mid-May through...more

Carlton Fields

The CFPB Takes First Enforcement Action Related to Data Security Practices

Carlton Fields on

The Consumer Financial Protection Bureau (CFPB ) has taken its first UDAAP action against a consumer financial service provider related to data security practices. Since its launch in December 2009, Dwolla, Inc. ("Dwolla"),...more

K&L Gates LLP

Proactive Protection of Consumers or Premature Penalty? Consumer Financial Protection Bureau Bucks the Trend in Data Security...

K&L Gates LLP on

Data breaches and cybersecurity attacks appear to be growing in frequency. Despite the increase in the number of such attacks, plaintiffs have found it difficult to establish a legal foothold for data breach claims, as...more

Baker Donelson

Recent CFPB Enforcement Actions Focus on Data Security and Discriminatory Lending

Baker Donelson on

In the past two months, consent orders were reached in two high profile enforcement actions. In February 2016, a consent order came out between the Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ) and...more

K&L Gates LLP

A New Cyber Regulator on the Beat: The CFPB Issues its First Cybersecurity Order and Fine

K&L Gates LLP on

On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) instituted its first data security enforcement action, in the form of a consent order against online payment platform Dwolla, Inc....more

Orrick, Herrington & Sutcliffe LLP

CFPB Jumps Into Cyber Enforcement Pool

In a much anticipated move, on March 2, 2016, the Consumer Financial Protection Bureau (CFPB) entered the cybersecurity foray with its first enforcement action against Dwolla, Inc., an online payment processing start-up. ...more

BakerHostetler

The CFPB Joins Privacy and Security Enforcement Arena With Action Against Dwolla

BakerHostetler on

The Consumer Financial Protection Bureau (CFPB) announced on March 2, 2016, that it had entered into a consent order with online payment platform Dwolla to resolve the CFPB’s claims regarding statements made by Dwolla about...more

Ballard Spahr LLP

CFPB brings its first data security enforcement action

Ballard Spahr LLP on

Last August, we blogged about a Third Circuit decision that held the FTC can regulate cybersecurity policies and procedures as “unfair” acts or practices under Section 5 of the FTC Act. In our blog post, we commented that...more

Stinson - Corporate & Securities Law Blog

CFPB Announces First Ever Data Security Enforcement Action

On March 2, 2016, the Consumer Financial Protection Bureau (CFPB) announced its first data security related enforcement action against online payment systems company Dwolla, Inc. ...more

Carlton Fields

CFPB Enters First Enforcement Order Related to Data Security

Carlton Fields on

On March 2, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) brought its first enforcement order related to data security. The order, against online payment platform service provider Dwolla, Inc. (Dwolla),...more

Bilzin Sumberg

Alphabet Soup and Data Security

Bilzin Sumberg on

In the span of two days, mobile device users learned of two data breaches that could compromise their personal data. In one, Experian (a credit reporting agency) reported that it was hacked, potentially putting 15 million...more

Ballard Spahr LLP

CFPB Information Security Remains a Challenge

Ballard Spahr LLP on

The Office of the Inspector General (OIG) has released the “2015 list of major management challenges” faced by the CFPB that the OIG believes will hamper the CFPB’s ability to accomplish the CFPB’s strategic objectives. Like...more

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