News & Analysis as of

Risk Management FTC Act

Cozen O'Connor

DOJ and FTC Secure $2.95 Million Settlement for Alleged CAN-SPAM Act Violations

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The U.S. DOJ settled with Verkada Inc., a cloud-based building security company that sells security cameras and other physical security products, to resolve allegations that its data security and email practices violated the...more

Troutman Pepper

FTC Releases 2023 Privacy and Data Security Update

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On March 28, the Federal Trade Commission (FTC) released a Privacy and Data Security Update, highlighting the FTC’s activities in recent years through December 2023. The FTC underscored its work on issues related to...more

Mintz

FTC Complaint Against Rite Aid Signals New Paradigm for Evaluating AI Technology Use

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Late last month, the Federal Trade Commission (FTC) filed a complaint for permanent injunctive relief and sanctions against Rite Aid, alleging that the pharmacy chain’s widespread use of facial recognition technology,...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

K&L Gates LLP

FTC to Scrutinize Commercial Use of Biometric Information Moving Forward

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On 18 May 2023, the Federal Trade Commission (FTC) released a policy statement announcing its intention to combat unfair and deceptive acts related to the collection and use of consumers’ biometric information. This comes in...more

Goodwin

Overdraft Protection Programs: Risk Management Practices

Goodwin on

Regulatory Developments - Overdraft Protection Programs: Risk Management Practices - On April 26, the OCC issued guidance in OCC Bulletin 2013-12, “Overdraft Protection Programs: Risk Management Practices,” to...more

ArentFox Schiff

February Privacy Report: FTC Expands Its Use of “Unfairness” Authority in GoodRx Matter

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GoodRx Faces Million Dollar Proposed Penalty from FTC in First Enforcement Action Under the Health Breach Notification Rule - Settlement reveals views on application of unfairness authority to sharing of sensitive...more

Shutts & Bowen LLP

Changes to GLBA Safeguards Rule Affect More Than Traditional Financial Institutes

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The Gramm-Leach-Bliley Act (“GLBA”) was a bi-partisan regulation passed by Congress in 1999 in an attempt to update and modernize the financial industry. One component of the GLBA, its Safeguards Rule, requires financial...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2022

FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more

Venable LLP

When Can the FTC, and CFPB, State Consumer Credit Regulators Pierce the Corporate Veil?

Venable LLP on

Does Ownership and Management Structure Matter? Fiduciary Relationships - Special confidence placed in one who in equity and good conscience is bound to act in good faith and in due regard to the one reposing confidence....more

Manatt, Phelps & Phillips, LLP

Online Fashion Retailer Fined by FTC for Suppressing Negative Reviews

The Federal Trade Commission (FTC) has fined online fashion retailer Fashion Nova $4.2 million to settle allegations that the company blocked negative reviews of its products from being posted on its website. The FTC said...more

Holland & Knight LLP

CFPB Proposes Settlement with Debt Collector for Failing to Investigate Identity Theft Reports

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With the ongoing COVID-19 pandemic, credit card companies may face increased scrutiny, as Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio recently stated that "credit reports play a huge role in...more

Hogan Lovells

#Trending: The FTC has stepped up regulatory investigations on social media. Is your company in compliance?

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Facebook, Instagram, YouTube, and other social media platforms have become the format of choice for many companies that want to advertise their products and services. At the same time, the U.S. Federal Trade Commission (FTC)...more

Stinson LLP

Children's Products and the "Internet of Things": Data Privacy Beyond COPPA

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In this internet age, "smart" children’s products—those that collect, transmit or store electronic data—are on the rise. By some estimates, the smart toy market will reach $11.3 billion in sales by 2020. Manufacturers of...more

Orrick, Herrington & Sutcliffe LLP

What Did They Say About Cybersecurity in 2016? 8 Proclamations from Regulators and the Courts

There is no such thing as compliance with the NIST Cybersecurity Framework (FTC). In September, the FTC dispelled a commonly held misconception regarding the NIST Framework: It “is not, and isn’t intended to be, a standard or...more

Robins Kaplan LLP

Lessons from the Wells Fargo Scandal

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Financial institutions must meet standards for safeguarding customer data given the particularly sensitive information they hold, and regulators have been stepping up their efforts to provide guidance on just how they must do...more

Beveridge & Diamond PC

Petitioners Urge FTC to Investigate Utility’s Environmental Marketing Claims

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This week, environmental activists in the state of Vermont filed a petition with the United States Federal Trade Commission (FTC) alleging that an electric utility made improper environmental marketing claims regarding its...more

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