Bank Law Monitor

Bank Law Monitor

A Legal Blog for the Financial Services Industry

Tag Archives: FTC

Beware: Data Breaches May Expose You to UDAP Liability

Posted in CFPB, Cybersecurity, Regulatory Developments, Trending News, UDAAP
Recently, the U.S. Court of Appeals for the Third Circuit ruled that the Federal Trade Commission (FTC) may pursue a lawsuit against Wyndham Worldwide Corporation, a hotel and time share operator for “unfair and deceptive” cybersecurity practices. In its complaint, the FTC alleged that Wyndham “unreasonably and unnecessarily” exposed consumers’ personal data in more than… Continue Reading

FTC Shares Concerns about Fraudulent or Unfair Practices Related to Mobile Banking with CFPB

Posted in CFPB, Trending News
The CFPB announced in June 2014 that it is studying how mobile technologies affect under-served consumers who have little access to traditional banking systems. The Federal Trade Commission (FTC) provided comments to the CFPB, detailing concerns that mobile banking is ripe for fraudulent transactions. In particular, consumers could be potentially liable for unauthorized charges using… Continue Reading