On Oct. 27, 2023, the Federal Trade Commission (FTC) amended its Standards for Safeguarding Customer Information (the Safeguards Rule), promulgated under the Gramm-Leach-Bliley Act (GLBA), to require financial institutions to provide notice to the FTC of data breaches that impact 500 or more consumers (the Amendment). This comes after the FTC’s major update to the
Greenberg Traurig Data Privacy & Cybersecurity attorneys Tyler Thompson and Andrea Maciejewski will present the CLE webinar “An Old (Data) Dog’s New Tricks: How Retro Laws are Being Used to Create Modern Risk” Nov. 14 at 12:00 p.m. EST. With increased focus on data issues but limited avenues to bring claims, both plaintiff firms…
- The Safeguards Rule compliance deadline is delayed by six months
- Eight subsections of the Safeguards Rule are affected by the delay
- The new effective date for compliance is June 9, 2023
- The FTC cited implementation challenges for small business as the reason for the delay.
On Nov. 15, 2022, the Federal Trade Commission…
On Oct. 27, 2021, the Federal Trade Commission (FTC) amended its Standards for Safeguarding Customer Information (the “Safeguards Rule”), promulgated under the Gramm-Leach-Bliley Act (GLBA).
This GT Alert covers the following:
In a unanimous decision released on April 22, 2021, the U.S. Supreme Court upended decades of lower court precedent by finding that Section 13(b) of the Federal Trade Commission Act (FTC Act) does not authorize the FTC to seek, or a court to award, equitable monetary relief such as restitution or disgorgement. Instead, in AMG…
On Feb. 10, 2021, Acting Federal Trade Commission (FTC) Chairwoman Rebecca Kelly Slaughter offered a glimpse of where the FTC may be headed under the Biden administration and confirmed that privacy remains among the Commission’s top priorities.
In her keynote address to the Future of Privacy Forum, Slaughter shared her views on the FTC’s role…