Tag: data security breach


FTC Requires Non-Bank Financial Institutions to Report Data Security Breaches Under Amended Safeguards Rule

November 13, 2023

Via: JD Supra

The Gramm-Leach-Bliley Act, enacted in 1999, requires financial institutions, broadly defined, to establish administrative, technical, and physical safeguards to protect customer information, but does not impose obligations to notify regulators of data breaches. It also tasked certain administrative agencies with […]


Non-bank financial institutions must report data security breaches: FTC

November 1, 2023

Via: Payments Dive

The Federal Trade Commission will require non-banking financial institutions to report data breaches and other events related to cybersecurity, the agency announced Friday. The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions like mortgage brokers, motor vehicle […]