News & Analysis as of

Online Payments Data Security

Sheppard Mullin Richter & Hampton LLP

Travel Giant Sabre Reaches Deal with State Attorneys General Over Data Breach

The travel giant Sabre Corp. has reached an agreement with multiple State Attorneys General to pay $2.4 million and make certain changes in its cybersecurity policies to settle a multi-state investigation into a 2017 data...more

Bradley Arant Boult Cummings LLP

Parallel Universe or Coincidence: The CFPB’s New Data Consumer Protection Principles’ Relationship to GDPR

On October 18, 2017, the Consumer Financial Protection Bureau (CFPB) outlined nine non-binding Consumer Protection Principles (the Principles) for the access and sharing of consumer information between third-party companies....more

Carlton Fields

The CFPB Takes First Enforcement Action Related to Data Security Practices

Carlton Fields on

The Consumer Financial Protection Bureau (CFPB ) has taken its first UDAAP action against a consumer financial service provider related to data security practices. Since its launch in December 2009, Dwolla, Inc. ("Dwolla"),...more

Stinson LLP

Recent Data Security Enforcement Action Marks Ever Expanding CFPB Authority

Stinson LLP on

On March 2, 2016, the Consumer Financial Protection Bureau (CFPB) announced an enforcement action against online payment system company Dwolla, Inc. for allegedly deceiving consumers about its data security practices. This...more

Baker Donelson

Recent CFPB Enforcement Actions Focus on Data Security and Discriminatory Lending

Baker Donelson on

In the past two months, consent orders were reached in two high profile enforcement actions. In February 2016, a consent order came out between the Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ) and...more

K&L Gates LLP

A New Cyber Regulator on the Beat: The CFPB Issues its First Cybersecurity Order and Fine

K&L Gates LLP on

On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) instituted its first data security enforcement action, in the form of a consent order against online payment platform Dwolla, Inc....more

Orrick, Herrington & Sutcliffe LLP

CFPB Jumps Into Cyber Enforcement Pool

In a much anticipated move, on March 2, 2016, the Consumer Financial Protection Bureau (CFPB) entered the cybersecurity foray with its first enforcement action against Dwolla, Inc., an online payment processing start-up. ...more

Holland & Knight LLP

CFPB Expands UDAAP Jurisdiction in First Foray into Data Security Enforcement

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) announced that it has entered into a consent order with online payment platform Dwolla Inc., alleging that Dwolla made false representations to consumers relating to its data...more

BakerHostetler

The CFPB Joins Privacy and Security Enforcement Arena With Action Against Dwolla

BakerHostetler on

The Consumer Financial Protection Bureau (CFPB) announced on March 2, 2016, that it had entered into a consent order with online payment platform Dwolla to resolve the CFPB’s claims regarding statements made by Dwolla about...more

Baker Donelson

CFPB Issues Fines and Penalties Against Financial Institutions for Misleading Marketing Materials

Baker Donelson on

The Consumer Financial Protection Bureau (CFPB) recently issued a first of its kind Consent Order against an online payment platform for misrepresenting the security measures used to protect consumer's data. Pursuant to the...more

Ballard Spahr LLP

CFPB brings its first data security enforcement action

Ballard Spahr LLP on

Last August, we blogged about a Third Circuit decision that held the FTC can regulate cybersecurity policies and procedures as “unfair” acts or practices under Section 5 of the FTC Act. In our blog post, we commented that...more

Ballard Spahr LLP

CFPB Initiates Its First Data Security Enforcement Action

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has announced its first data security enforcement action. Since the 1990s, the Federal Trade Commission (FTC) has primarily taken on the role as the de facto federal regulator...more

Robinson+Cole Data Privacy + Security Insider

First data security enforcement fine levied by CFPB against Dwolla Inc. for $100,000

Wading into the foray of enforcement of data security practices, the Consumer Financial Protection Bureau (CFPB) yesterday hit Dwolla Inc., an online payment processor with a $100,000 fine for a myriad of violations of the...more

Stinson - Corporate & Securities Law Blog

CFPB Announces First Ever Data Security Enforcement Action

On March 2, 2016, the Consumer Financial Protection Bureau (CFPB) announced its first data security related enforcement action against online payment systems company Dwolla, Inc. ...more

Morgan Lewis

Online Payment Systems Technology in China—Trojan Horse or Forbidden Fruit?

Morgan Lewis on

Powerful new computational technology pioneered in e-commerce presents Chinese regulators with potential concerns and solutions to the perennial problem of information, pricing, and settlement capacity. Online payment...more

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