On December 19, 2014, the FCC published Chairman Thomas Wheeler‘s response to Senator Bill Nelson’s (D-FL) letter regarding the FCC’s recent proposed $10 million fine against two telecom companies.
In the response, Chairman Wheeler reiterated the need for FCC action in this area and explained that consumers regularly entrust their most personal, confidential,
The New Jersey Assembly on December 15 unanimously approved, by a vote of 75-0, a bill designed to better protect consumers from identify theft. Bill A3146, if approved by the Senate, would expand the state’s law to include disclosure of a breach of security of online accounts.
Per the Identity Theft Resource Center, between
As we’ve discussed previously, medical identity information is worth more than ten (10) times that of financial information on the black market. This gives hackers a financial incentive to obtain such information that is maintained not only by medical providers and pharmacies but also by employers who provide medical insurance coverage to their employees. Employers
On October 24, 2014, the Federal Communications Commission (FCC) announced its intention to fine two telecom companies $10 million for several violations of laws protecting the privacy of phone customers’ personal information. This marks the FCC’s first data security case and the largest privacy action in the FCC’s history.
According to the FCC, TerraCom, Inc.
On January 1, 2015, Delaware employers who dispose of records which contain the unencrypted personal identifying information of employees must take steps to ensure the privacy of such information. The bill, H.B. 294, was recently signed by Delaware’s Governor Jack Markell.
The new law defines personal identifying information as an employee’s first name
The New York Department of Financial Services recently published proposed regulations which would require virtual currency businesses operating in New York State to safeguard data and protect customer privacy.
Notably, the proposed regulations include requirements for virtual currency business to maintain cyber security programs and business continuity and disaster recovery plans.
Virtual currencies under the
On the heels of recent nationwide data breaches of consumer personal information, the Florida State Senate has proposed SB 1524, which if adopted will become effective on July 1, 2014, to revamp and replace existing state data security law and, in particular, impose a statutory requirement to safeguard personal information, reporting a breach to
The U.S. Commodity Futures Trading Commission (Commission) issued a Staff Advisory on best practices for financial institutions that must comply with Gramm-Leach-Bliley Act (GLBA) provisions on data security and customer privacy.
GLBA was enacted to ensure that financial institutions respect the privacy of their customers and protect the security and confidentiality of nonpublic personal information.
In honor of National Data Privacy Day, we provide the following “Top 14 for 2014.” While the list is by no means exhaustive, it does provide critical areas businesses will need to consider in 2014.
The Federal Financial Institutions Examination Counsel (FFIEC) recently issued supervisory guidance entitled “Social media: Consumer Compliance Risk Management Guidance.” Financial institutions are expected to use the Guidance in their efforts to ensure that their policies and procedures provide oversight and controls commensurate with the risks posed by their involvement in social media.
The Guidance was