News & Analysis as of

Gramm-Leach-Blilely Act Section 5

Venable LLP

FTC Steps on Career Step and Alleged Inflated Promises of Employment Opportunities

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In July, the Federal Trade Commission (FTC) brought a complaint against Career Step LLC for targeting servicemembers with misrepresentations concerning Career Step’s ability to match its customers with jobs in the healthcare...more

Goodwin

FTC Files Suit Against Third-Party Bill Payment Company

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On April 25, 2024​, the FTC announced​ that it filed a suit against a Washington-based ​third-party bill payment company​ and two of its chief executives ​​for engaging in allegedly ​deceptive ​and misleading ​​practices​ in...more

BakerHostetler

Money, Money, Money - Recent Decision Shows a Court Wrestling with the Proper Amount of Civil Penalties to Award the FTC

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Much ink has been spilled over the impact of the Supreme Court’s AMG decision on the Federal Trade Commission (FTC). That decision held that Section 13(b) of the FTC Act did not authorize a federal court to award equitable...more

Jones Day

FTC Requires Non-Bank Financial Institutions to Report Data Security Breaches Under Amended Safeguards Rule

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On Friday, October 27, the Federal Trade Commission ("FTC") announced new amendments to the Safeguards Rule, requiring covered financial institutions to report certain data breaches to the FTC and reflecting its continuing...more

Alston & Bird

FTC Announces Settlement with Mortgage Broker for Publishing Personal Information about Consumers

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A&B ABstract: On January 7, 2020, the Federal Trade Commission (FTC) announced a complaint and settlement against California mortgage broker Mortgage Solutions FCS, doing business as Mount Diablo Lending, and its owner, Ramon...more

Sheppard Mullin Richter & Hampton LLP

FTC and Car Dealership Software Company Reach Security Settlement

The FTC recently settled with LightYear Dealer Technologies, maker of DealerBuilt software, over allegations that the company failed to provide adequate protection for the personal data it houses. The companies’ clients...more

Wilson Sonsini Goodrich & Rosati

FTC Data Security Settlement with Auto Dealer Software Provider Goes Further than Ever Before - Provides Detailed Specifications...

On June 12, 2019, the Federal Trade Commission (FTC) announced it had reached a proposed settlement with LightYear Dealer Technologies, LLC (doing business as "DealerBuilt") over allegations that the automobile software...more

Faegre Drinker Biddle & Reath LLP

Further Expansion of Data Security Requirements in FTC Order with LightYear Dealer Technologies

The FTC has entered into a settlement with LightYear Dealer Technologies, doing business as DealerBuilt, a technology company that develops and sells dealer management system (DMS) software and data processing services to...more

Manatt, Phelps & Phillips, LLP

FTC Settles With Payment and Social Networking Service

The Federal Trade Commission (FTC) entered into a Consent Order with an online payment system company, settling charges that its payment and social networking service violated the Gramm-Leach-Bliley Act (GLBA) and related...more

Fox Rothschild LLP

Venmo Agrees To Stop Misleading Consumers

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Earlier this week, the Federal Trade Commission (“FTC”) announced a settlement with PayPal, Inc. over allegations that Venmo, a PayPal-owned mobile payment and social networking application, misled customers on issues...more

Dorsey & Whitney LLP

Case Update: In Consumer Data Breach Case, Eleventh Circuit Indicates Concern over Scope of FTC’s Enforcement Actions

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On June 21, 2017, the Eleventh Circuit Court of Appeals heard oral argument in LabMD, Inc. v. FTC, Case No. 16-16270, a case that is being carefully watched to see if it will clarify the limits of the Federal Trade...more

Ballard Spahr LLP

FTC continues vigorous use of enforcement authority

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As observers ponder the CFPB’s future in a Trump Administration, the Federal Trade Commission’s continuing role as an enforcer of federal consumer financial protection laws should not be overlooked. Over the approximately...more

WilmerHale

The CFPB and Data Security Enforcement

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The Consumer Financial Protection Bureau (CFPB) announced its intention to act as a data security regulator by releasing its first unfair, deceptive or abusive acts or practices (UDAAP) enforcement action for allegedly...more

Ballard Spahr LLP

FTC Can Regulate Cybersecurity Practices, Third Circuit Rules

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The Federal Trade Commission (FTC) can regulate cybersecurity policies and procedures as “unfair” acts or practices under Section 5 of the FTC Act, the U.S. Court of Appeals for the Third Circuit has ruled in a very important...more

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