Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
Class Actions - Plaintiffs Seek Approval for $4.3 Million Settlement With Sonic in Credit Card Data Breach Suit • Following a variety of lawsuits against fast food chain Sonic Drive-In related to a 2017 credit card data...more
Last week, the U.S. Court of Appeals for the Eighth Circuit affirmed the district court’s approval of a $17 million settlement between Target Corp. and consumers whose credit card data was compromised in the 2013 data breach....more
In light of recent high-profile breaches of highly sensitive data, this is a good time to remind individuals of how to protect their identity and credit information....more
The $10 million settlement class in the Target data breach case was unraveled by the Eighth Circuit Court of Appeals in a recent decision that will force the district court to address the impact of the Supreme Court’s...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
For a number of years now, January 28 has been marked as “Data Privacy Day” (or, for our European friends, “Data Protection Day”), and it is often overlooked observed in the United States, Canada, India and many European...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
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
Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...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
A security event involving payment card data, especially card present data, can be one of the most costly events a company may face. Not only did a recent study report the average total cost of a data breach as $3.8 million,...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
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
The Target data breach story keeps getting worse. The December pre-Christmas disclosure was the theft of up to 40 million Target shoppers’ credit and debit card information in what appeared to have been a hack of the Target...more