On November 15, 2022, the Federal Trade Commission (FTC) announced that it is delaying the effective date of certain changes to the Gramm–Leach–Bliley Safeguards Rule. The Safeguards Rule, which first became operative in 2003, imposes certain security requirements on non-banking financial institutions. The FTC amended the Rule in December 2021, and several provisions under the […]
Update: FTC Amendments to the Safeguards Rule and Request for Comment on Proposed Reporting Requirement Published to the Federal Register
As an update to prior coverage of the FTC’s final revisions to the Gramm-Leach-Bliley Safeguards Rule (Final Rule), following its publication in the Federal Register on December 9, 2021, the Final Rule now will take effect on January 8, 2022, 30 days after publication in the Federal Register. Revisions to the Final Rule include an […]
FTC Revises the Safeguards Rule and Proposes Mandatory Reporting of Cybersecurity Events
On October 27, 2021, the FTC released its much-anticipated final revisions to the Gramm-Leach-Bliley Safeguards Rule (Safeguards Rule or Final Rule), following a 3-2 vote along party lines and also released a notice of proposed rulemaking that would require reporting to the FTC of certain cybersecurity events. Revisions to the Safeguards Rule Effective since 2003, […]
The FTC Expands its FCRA Enforcement Activity In Action Against Retailer
Most businesses are already familiar with the Fair Credit Reporting Act (“FCRA”) and the various requirements to protect the fairness, accuracy, and privacy of consumer credit information. However, a recent FTC enforcement action against the retailer Kohl’s Department Store, Inc. (“Kohl’s”) has brought a rarely used provision of the statute to light. This provision—codified […]
High Profile Settlements, Strengthened Data Security Orders, and COPPA: The FTC’s 2019 Privacy and Data Security Update
Each year the Federal Trade Commission (the “FTC” or “Commission”) publishes a report on its activities with respect to consumer privacy and data security during the prior year. On February 25, 2020, the Commission released its 2019 Privacy and Data Security Update. The update contains a summary of the FTC’s enforcement, advocacy, and rulemaking actions […]