News & Analysis as of

Gramm-Leach-Blilely Act Cyber Incident Reporting Non-Bank Lenders

Constangy, Brooks, Smith & Prophete, LLP

FTC cyber breach notification rules: If you’re a non-banking financial institution, here’s what you need to know.

Financial institutions are now required to notify the Federal Trade Commission about any security breach that involves the information of 500 customers or more. The breach must be reported no later than 30 days after it is...more

Paul Hastings LLP

Revised FTC Safeguards Rule Brings Breach Reporting Obligations to Non-Banking Financial Institutions in May 2024

Paul Hastings LLP on

Federal jurisdiction under the Gramm Leach Bliley Act (“GLBA”) is a patchwork, particularly for banks –the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency all...more

Polsinelli

FTC Adopts Data Breach Notification Obligations for Non-Banking Financial Institutions

Polsinelli on

On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data...more

Paul Hastings LLP

FTC Approves New Incident Reporting Requirements for Safeguards Rule

Paul Hastings LLP on

The Federal Trade Commission (the “FTC”) approved last week an amendment to its Safeguards Rule that will institute new data breach notification requirements for non-bank financial institutions....more

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