The Federal Trade Commission (FTC) issued a surprisingly strong warning to companies that they may face potential regulatory action if they fail to address known vulnerabilities, focusing in particular on the Log4j...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
With it being Halloween, October being National Cybersecurity Awareness Month, and 2019 drawing to an end, let’s take a look at the data privacy breaches giving compliance professionals a fright this year! ...more
What the FTC Wants, the FTC (Mostly) Gets - In recent weeks the Federal Trade Commission has been on a tear. As one example, on July 22 it announced a $700 million settlement with Equifax for “the 2017 data breach that...more
New York continued its active legislative session last week, this time by expanding its data breach notification law. The SHIELD Act (Stop Hacks and Improve Electronic Data Security), signed by Governor Andrew Cuomo on July...more
Today, the FTC announced that Equifax, Inc. will pay at least $575 million (and potentially up to $700 million) as part of a proposed global settlement with the Federal Trade Commission (FTC), the Consumer Financial...more
In this month's Privacy & Cybersecurity Update, we examine several recent U.K.-related cybersecurity developments and the SEC's risk alert reminding investment advisers and broker-dealers to follow through on implementing...more
In the aftermath of Equifax’s data breach, a federal court recently found that allegations of poor cybersecurity coupled with misleading statements supported a proper cause of action. In its decision, the U.S. District Court...more
In a consent order with financial regulators from eight states, Equifax Inc. yesterday agreed to put in place a number of basic data security safeguards – apparently lacking until now – to prevent another massive breach....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
Any entity that does business in these states or maintains confidential information of their residents should monitor the proposed data breach legislation discussed below: Oregon, New York, Alabama, and Rhode Island....more
Exclusive: U.S. Consumer Protection Official Puts Equifax Probe on Ice – Sources - On Monday, Reuters reported that, “Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe...more
The year 2017 saw the number of data breaches grow, and the trend is expected to continue and intensify. From Yahoo’s announcement that three billion of its user accounts were compromised to the Equifax breach and resulting...more
As we near the end of a year that has seen more than its share of massive data breaches, two bills have been introduced (one re-introduced) in the U.S. Senate....more
UNITED STATES - Regulatory—Policy, Best Practices, and Standards - United States and China Renew Promise Not to Hack - On October 4, U.S. and Chinese officials agreed to not engage in targeted hacking. Per a...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