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Hannaford breach litigation back in business

Morrison & Foerster LLP
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USA
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December 6 2011

In 2008, the supermarket chain Hannaford Bros. Co. announced that information relating to more than 4 million credit and debit card accounts had been intercepted while the information was being transmitted to the company’s central computer systems

Right to Financial Privacy Act litigation

Morrison & Foerster LLP
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USA
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December 6 2011

The Right to Financial Privacy Act (“RFPA”) has been the subject of recent bank class action litigation

Massachusetts AG brings it

Morrison & Foerster LLP
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USA
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September 2 2011

On July 28, the Massachusetts Attorney General (“AG”) entered into an Assurance of Discontinuance with a Massachusetts bank (in lieu of an enforcement action) regarding alleged violations of the state’s data security regulations, in which the bank agreed to comply with the regulations, as well as to pay a penalty of $7,500

FFIEC issues supplemental guidance on internet banking authentication

Morrison & Foerster LLP
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USA
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September 2 2011

On June 28, the Federal Financial Institutions Examination Council (“FFIEC”) issued its long-awaited guidance on how banks should protect against cybersecurity threats, supplementing the authentication guidance issued in 2005

Gazing at clouds and mobiles

Morrison & Foerster LLP
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USA
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September 2 2011

In June, the PCI Security Standards Council separately issued guidance on how the PCI Standards should be applied to protect payment card data used to conduct transactions virtually (e.g., in the cloud) and using mobile payment applications

Federal privacy and data security bills

Morrison & Foerster LLP
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USA
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September 2 2011

There has been a litany of federal privacy and data security bills introduced this Congress

CFPB privacy rules

Morrison & Foerster LLP
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USA
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September 2 2011

On July 28, the CFPB issued an interim final rule establishing its procedures for, among other things, the disclosure by, and the confidential treatment of, information obtained by the CFPB in connection with exercising its authority under the consumer financial laws

OCC issues data security alert

Morrison & Foerster LLP
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USA
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June 2 2011

In light of a number of highly publicized security breaches involving service providers, on April 18, 2011, the Office of the Comptroller of the Currency (OCC) issued an alert highlighting the need for national banks and their technology service providers (TSPs) to take steps to ensure that their enterprise risk management is sufficiently robust to protect and secure bank and customer information

Dodd-Frank customer access provision

Morrison & Foerster LLP
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USA
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December 9 2010

Among the many powers the Dodd-Frank Act confers on the new Consumer Financial Protection Bureau ("CFPB") is oversight over privacy

GLBA sample clause safe harbor to end soon

Morrison & Foerster LLP
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USA
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December 9 2010

At the end of 2009, the federal banking agencies and the Commodity Futures Trading Commission, Federal Trade Commission, National Credit Union Administration, and Securities and Exchange Commission (collectively, the "Agencies") published a final rule amending their privacy rules under Title V of the Gramm-Leach-Bliley Act ("GLBA"