Navigating Emerging Privacy Issues in Financial Services — The Consumer Finance Podcast
[Podcast] The FTC Safeguards Rule: A Deep Dive into the Revisions Effective June 9, 2023
In this episode of On Record PR, Gina Rubel goes on record with Aihong Yu, Chief Privacy Counsel of CDK Global, to discuss how embracing privacy and security measures…...more
Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Amendments to key rules and regulations will take effect in 2024,...more
On October 27, the Federal Trade Commission (“FTC”) unanimously voted to amend the Safeguards Rule to require non-banking financial institutions to report data breaches and security events to the Agency. This amendment will...more
State Attorney Generals (“State AGs”) and the federal government are capturing headlines for increasingly suing large corporations for unfair and deceptive trade practices. In some cases, these actions are tackling...more
Think only financial institutions have obligations to safeguard customer data? Think again. The FTC has taken several actions against non-financial institutions for data security practices in the last year. We’ll discuss FTC...more
On November 15, 2022, the FTC announced that it was extending by six months the deadline for companies to comply with some portions of the updated Safeguards Rule. The extension comes as a welcome relief to companies racing...more
Auto dealerships that provide financing are subject to the Gramm Leach Bliley Act (GLBA). That’s the old news. What’s new is that GLBA-covered businesses have until December 9 to implement significant changes to their...more
The FTC recently announced a final rule updating its GLBA Safeguards Rule to “strengthen the data security safeguards” of consumer financial information. The FTC reported that it was making these changes in response to...more
In this month’s edition of our Privacy & Cybersecurity Update, we examine the FTC’s changes to the Gramm-Leach-Bliley Act’s Safeguards Rule and the CFPB’s order requiring six tech companies to disclose information regarding...more
Until now, companies primarily regulated by the Federal Trade Commission (FTC) were given only vague directives to implement systems sufficient to safeguard customer data, coupled with FTC “recommendations” as to best...more
The FTC’s final rule released last week amending its Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act (GLBA) will require significant changes in data security policies and...more
The Gramm-Leach-Bliley Act (GLBA) is a federal law that establishes various legal requirements for companies that qualify as “financial institutions” under the Act. The GLBA’s definition of a “financial institution” is...more
Privacy and data security. If you don't have those issues on your radar, you should. Dealers have always had data privacy and safeguarding responsibilities. Nothing new here. But a change is coming. The basic privacy and data...more
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
he Federal Trade Commission (FTC) has focused over the course of 2018-2019 on consumer protection, data security, privacy and FinTech issues as part of its review of "Competition and Consumer Protection Issues in the 21st...more