The updated rule also includes new exemptions, expands the definition of “financial institution,” and creates new accountability requirements. On October 27th the Federal Trade Commission (“FTC”) adopted and published...more
Cyber attacks continue to be a pervasive and destructive threat to all institutions and the legal and regulatory landscape currently in place to address those threats continues be reshaped in an effort to address those...more
In the absence of federal action, state legislators continue to propose bills that would increase data privacy and security protections for consumers. Any entity that does business in these states or maintains confidential...more
New York State regulators won’t be letting Equifax, Inc. off-the-hook any time soon for last year’s massive data breach that affected more than 145 million Americans....more
This week, a high profile plaintiffs’ firm (Edelson) stated that “if done right,” the data breach class actions against Equifax should yield more than $1 billion in cash going directly to more than 143 million consumers...more
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
The Equifax data breach has dominated news headlines for weeks, and Equifax will be dealing with the legal and financial fallout from the breach for many years. While many companies may be relieved not to be in Equifax's...more
The issue of cybersecurity is back in front of Congress in the wake of the news of the data breach at Equifax Inc., which reportedly has affected approximately 143 million consumers. Various industry trade groups, including...more
Yesterday, New York Governor Andrew M. Cuomo announced that he has directed the Department of Financial Services (DFS) to issue a new regulation requiring “credit reporting agencies to register with” the DFS, as well as...more