On Thursday, the staff of the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Office of Thrift Supervision and the Federal Trade Commission issued a set of FAQs to assist financial institutions, creditors, users of consumer reports, and card issuers in complying with the Red Flags and Address Discrepancies Rules under FACTA.
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Seven Days Is All She Wrote . . .
By Proskauer Rose on
As our readers know, many of the 44 state data breach notification laws allow for (and may even require) a brief delay in notifying affected individuals of the breach if that notification would interfere with or impede a law enforcement investigation. Last week, the governor of Maine amended that state’s data breach notification law. The amendment clarifies that notification may be delayed for no longer than 7 business days after a law enforcement agency determines that the notification will not compromise a criminal investigation.
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Red Flags Rule Interpretation Raises Red Flags
By Proskauer Rose on
We noted in an earlier post that the FTC determined that the Red Flags Rule applies to retailers who pass credit card applications on to lenders. However, there appears to be strong arguments against this interpretation.
Red Flag Rules Compliance Deadline Extension Not Grounds to Procrastinate
By Proskauer Rose on
I spoke with Health Leaders Media about the Red Flag Rules and the FTC’s further extension of the compliance deadline.
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Feud of the Forms — The Battle of The GLBA Notices
By Proskauer Rose on
The report by Drs. Alan Levy and Manoj Hastak, Consumer Comprehension of Financial Privacy Notices, uses the results of a mall-intercept study to compare the performance of a prototype financial privacy notice developed by the Kleimann Communication Group (“KCG”) during the first phase of the INP against three alternative notices. The Levy-Hastak report, among other things, confirms what proponents of the INP suspected – some GLBA privacy notices are largely ineffective in conveying information to consumers that allows them to make rational decisions about the sharing of their personal financial information.
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Oh, behave: EU cracks down on behavioral targeting in the U.K.
By Proskauer Rose on
The European Commission announced this week that it might sue the United Kingdom if that country fails to limit the tracking and collection of users’ Internet browsing habits and personal information without prior consent. The United Kingdom until now has adopted a self-regulatory approach similar to that followed by the
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More on Cloud Compliance
By Proskauer Rose on
I recently spoke with Lora Bentley of IT Business Edge regarding privacy, data security, and cloud computing — There’s More Than One Way to Tackle Privacy in the Cloud.
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California District Court Closes the Gap Left by Ruiz
By Proskauer Rose on
On Monday, the Northern District of California granted Gap, Inc.’s Motion for Summary Judgment in Ruiz v. Gap, Inc., et al., Case No. 07-5739 SC, holding that Ruiz’s allegations of an increased risk of identity theft “do[] not rise to the level of appreciable harm necessary to assert a negligence claim under California law.”
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