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Federal Trade Commission (FTC) Today's Popular Updates Gramm-Leach-Blilely Act

Eversheds Sutherland (US) LLP

Midyear roundup of privacy and cybersecurity regulation, enforcement, and litigation

Particularly with a new US administration in place, the first half of 2025 is witnessing a substantial reconfiguring of regulatory and enforcement priorities that promise to have profound impacts on companies as the year...more

Alston & Bird

Data Breach Notification Requirements Under the Safeguards Rule Now in Effect

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For years, the Gramm-Leach-Bliley Act (GLBA) has required financial institutions to maintain reasonable safeguards for consumer data, but has only had limited breach-reporting requirements. To the extent financial...more

Troutman Pepper Locke

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

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

King & Spalding

FTC’s Amended Safeguards Rule Creates Unique Dilemma for Certain Organizations Who Have Experienced a Data Breach

King & Spalding on

On May 13, 2024, the FTC’s new rule (the “Rule”) requiring certain financial institutions to report cyber incidents to the Commission will go into effect. The Rule, which is an amendment to the Gramm-Leach-Bliley Act (GLBA)...more

Benesch

FTC Amends Financial Institution Safeguards Rule to Include New Obligation to Report Notification of Data Security Breaches

Benesch on

The amended rule requires financial institutions to notify the FTC within 30 days of discovery of a security breach involving information of at least 500 consumers. ...more

WilmerHale

NYDFS Finalizes Amendments to Cybersecurity Regulations

WilmerHale on

On November 1, 2023, New York Department of Financial Services (NYDFS or the “Department”) released the finalized revisions (the “Second Amendment”) to 23 NYCRR Part 500 (Part 500) – the most significant modifications to Part...more

Troutman Pepper Locke

More Privacy, Please - September/October 2023

Troutman Pepper Locke on

Editor’s Note: The FTC continues to crack down on privacy and cybersecurity, including issuing a new warning to tax preparation companies and entering into a consent decree with 1Health.io. VPPA and BIPA litigation continues...more

Cooley LLP

FTC Adds New Data Breach Reporting Obligations Under Safeguards Rule

Cooley LLP on

On October 27, 2023, the Federal Trade Commission (FTC) unanimously approved an amendment to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule to require certain covered financial institutions to report a broad range of data...more

Jones Day

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

Jones Day on

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 Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions

Alston & Bird on

On October 27, 2023, the FTC approved an amendment to the Safeguards Rule (the “Amendment”) requiring that non-banking financial institutions notify the FTC in the event of a defined “Notification Event” where customer...more

Wiley Rein LLP

The FTC Is Targeting Crypto Too - With a Significant New Enforcement Action

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Last week the Federal Trade Commission (FTC) joined the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in bringing charges and announcing settlements with the now-bankrupt cryptocurrency...more

Bradley Arant Boult Cummings LLP

Complying With the FTC's Amended Safeguards Rule

Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several...more

HaystackID

[Webcast Transcript] Today’s Privacy Reality: AI, Assessments, Breach and DSARs

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Editor’s Note: On February 15, 2023, HaystackID shared an educational webcast to provide valuable insight into the ways in which AI is being used to address key issues in the realm of privacy and cybersecurity. The expert...more

Venable LLP

Four Cybersecurity Law Issues for Financial Services to Track in 2023 | Insights

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The financial services sector must already contend with a maze of regulations in a variety of areas, and 2023 is poised to usher in new cybersecurity regulations for the industry. Organizations should ensure their security...more

McGlinchey Stafford

Video: Introduction: A Deep Dive into Privacy

McGlinchey Stafford on

The world of cybersecurity and privacy have grown exponentially in recent years, both on the federal and state level. A pandemic-driven shift to remote has increased social media interaction and electronic communication, and...more

McGlinchey Stafford

Stay atop emerging threats to fight cybercrime

McGlinchey Stafford on

It is a relentless battle to protect your data from hackers, fraudsters and even nation-states that commit cyberattacks against the financial services sector. Legal requirements for data security come from a variety of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - August 2022

In this month’s Privacy & Cybersecurity Update, we review the FTC’s proposed data privacy and cybersecurity rulemaking and the European Data Protection Board’s draft guidelines on the calculation of GDPR administrative fines....more

Orrick, Herrington & Sutcliffe LLP

What Fintech Companies Need to Know About Key Federal Privacy Requirements

The financial technology (“Fintech”) industry has boomed over the last decade, from the rise of mobile payment apps, robo-advisers, lending platforms, consumer-friendly brokerages to cryptocurrency trading platforms. By their...more

Epstein Becker & Green

A Recently-Released “Discussion Draft” of the “American Data Privacy and Protection Act” Provides Insight Into Recent Bipartisan...

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As reported in a June 3, 2022 press release from the House Committee on Energy and Commerce, U.S. Representatives Frank Pallone, Cathy McMorris Rodgers, and Senator Roger Wicker released a “discussion draft” of a federal data...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 10, 2022)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

The 2021 Year in Review and What to Expect in Data Security in 2022

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This year saw a number of significant changes on both the state and federal levels with regard to data privacy and data security. These changes reflect the increasing focus on the digital landscape to which the global economy...more

Mintz - Privacy & Cybersecurity Viewpoints

FTC Warns Companies to Remediate Log4j Security Vulnerability

Before the holidays, we warned of a critical vulnerability in a widely-used Java logging utility that could affect tens of thousands of companies. Since that original alert, multiple US and foreign government cybersecurity...more

Blank Rome LLP

FTC Updates GLBA Safeguards Rule for Financial Institutions to Strengthen Security

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The Federal Trade Commission (“FTC”) recently updated the Safeguards Rule under the Gramm-Leach-Bliley Act (“GLBA”), which is applicable to financial institutions, to strengthen data security requirements for consumer...more

Ballard Spahr LLP

FTC Strengthens GLBA Financial Safeguards and Privacy Rules

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On October 27, the Federal Trade Commission (FTC) announced a final rule (Final Rule) and supplemental notice of proposed rulemaking (NPRM) to amend the Safeguards Rule promulgated under the Gramm-Leach-Bliley Act (GLBA),...more

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