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Posts tagged as “Data Protection”

FTC Amends Safeguards Rule; Nonbank Financial Institutions Must Report Data Breaches to the FTC

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”).

Kansas Financial Institutions Information Security Act Approved by Governor

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.