The Federal Trade Commission recently announced approval of an amendment to the Gramm-Leach-Bliley Act Safeguards Rule to require nonbank financial institutions to report to the FTC the unauthorized acquisition of unencrypted customer information involving at least 500 consumers (a “notification event”).
Posts published in “Compliance Management”
The U.S. Court of Appeals for the Seventh Circuit recently affirmed a trial court’s summary judgment ruling in favor of a debt collector asserting a bona fide error defense to an action under the federal Fair Debt Collection Practices Act.
The Appellate Court of Illinois, Second District, recently affirmed the dismissal of a claim for supposed violations of the federal Fair Debt Collections Practices Act where the consumer plaintiff failed to allege facts that the money sought to be collected was a “debt” as defined by section 1692a(5) of the FDCPA, and the demand letter from the defendant law firm indicated that the debt was commercial in nature.
Continuing on its mission to curb abusive collection efforts related to medical debt which began to take life in 2022, the CFPB on Sept. 21 announced its initiation of a rulemaking process to remove medical bills from credit reports entirely.
The Illinois Supreme Court, after receiving a certified question from the U.S. Court of Appeals for the Seventh Circuit, recently held that a separate claim accrues under the Illinois Biometric Information Privacy Act each time a private entity improperly scans or transmits an individual’s biometric identifier or information.
Texas Gov. Greg Abbott on June 18 signed into law House Bill 4, the Texas Data Privacy and Security Act. This makes Texas the 10th state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, Iowa, Indiana, Tennessee, and Montana.
Texas Gov. Greg Abbott on May 27 signed into law Senate Bill 768 which amends the state’s data breach notification statutes. The amendments go into effect Sept. 1, 2023.
Montana Gov. Greg Gianforte on May 19 signed into law Senate Bill 384, the Montana Consumer Data Privacy Act, making Montana the ninth state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, Iowa, Indiana, and Tennessee. The law will take effect Oct. 1, 2024.
Tennessee Gov. Bill Lee on May 11 signed into law House Bill 1181, making Tennessee the eighth state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, Iowa, and Indiana. The law will take effect July 1, 2024.
Indiana Gov. Eric Holcomb on May 1 signed into law Senate Bill 5, making Indiana the seventh state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, and Iowa. The law will take effect Jan. 1, 2026.
Kansas Gov. Laura Kelly has approved enactment of Senate Bill 44 which requires certain financial institutions to establish information security standards consistent with the federal Gramm-Leach-Bliley Act’s Safeguards Rule, 16 C.F.R. § 314.1, et seq. The Kansas Financial Institutions Information Security Act becomes effective July 1, 2023.
Iowa Gov. Kim Reynolds on March 28 signed into law SF 262, making Iowa the sixth state to enact comprehensive consumer data privacy legislation. The other states are California, Virginia, Colorado, Utah, and Connecticut. The law will take effect Jan. 1, 2025.