On June 12, 2019, the Federal Trade Commission (FTC) settled with LightYear Dealer Technologies, LLC (LightYear) over a major data breach that occurred in October of 2016 and the subsequent allegations that LightYear’s data security was woefully insufficient. LightYear, an auto dealer software provider operating under the name DealerBuilt, provides dealer-management system software and data processing and/or storage services to [...]
In recent weeks, Nevada and Maine passed new data privacy legislation. Although these statutes are much narrower than the California Consumer Privacy Act (CCPA), they demonstrate a continuing trend towards U.S. privacy regulation at the state level and impose additional compliance obligations on businesses. Nevada’s current online privacy law requires operators of websites and/or online services to publish a privacy [...]
The Federal Trade Commission’s (“FTC”) message is clear: companies can’t restrict consumers from publishing negative reviews as a condition of purchase. Provisions or clauses containing this sort of restriction are known as non-disparagement provisions, or “gag clauses.” The FTC’s Consumer Review Fairness Act (“CRFA”), which became effective in March 2017, prohibits such practices. While the FTC has brought cases in the past [...]
Earlier this month, several California Consumer Privacy Act (CCPA) amendment bills took the first step towards becoming law by receiving passing votes from their designated committees. On May 16th, the Senate Appropriations Committee placed one of the more significant bills—the Attorney General backed SB 561—in its suspense file. If passed, SB 561 would have: (1) expanded the CCPA’s private right [...]
The accounts receivable industry was well represented at the Consumer Financial Protection Bureau’s (“CFPB”) Debt Collection Town Hall Meeting last week. At the Bureau’s request, Jan Stieger, Executive Director of Receivables Management Association International (“RMAI”), participated in a panel discussion where she provided industry insight and feedback on the CFPB’s recently issued Notice of Proposed Rulemaking on Debt Collection Practices. [...]
Today, the Consumer Financial Protection Bureau (“CFPB”) announced its long-awaited proposed rule to implement the Fair Debt Collection Practices Act (“FDCPA”). Spanning over 500 pages, the proposed rule seeks to expand the methods by which collectors may communicate with debtors while simultaneously providing additional consumer protections. Some of the proposed changes include: Calling Limits: The proposed rule would limit a [...]
California lawmakers hoping to scale back, expand, or at least clarify the scope of the state’s groundbreaking privacy law have seen their first real victories as Assembly and Senate committees approved eight of at least eighteen bills proposing amendments to the California Consumer Privacy Act (CCPA). Significant developments following the recent committee hearings include the following: CCPA Overhauler Bows Out, [...]
On Wednesday April 24, 2019, the U.S. Supreme Court ruled in Lamps Plus Inc., et al. v. Frank Valera that class-based arbitration cannot be compelled where an arbitration agreement is ambiguous as to that issue. The dispute stemmed from Valera’s allegations that Lamps Plus failed to adequately protect personal data ahead of a 2016 phishing attack that stole tax and [...]
The Federal Trade Commission (FTC) has announced that it is seeking comment on proposed changes to rules promulgated under the Gramm-Leach-Bliley Act (GLB). GLB requires companies that offer consumer financial products or services, like loans, to explain their information sharing practices to their customers and to safeguard sensitive data. The FTC’s request for comments specifically affects two rules under the [...]
Receivables Management Association International (RMAI) has launched a comprehensive and engaging online resource for financial success. FinancialLiteracy.ROCKS allows everyone from beginning learners through experienced consumers to explore a wide range of topics on financial literacy. Using a variety of entertaining videos, instructional programs, interactive games, and comprehensive overviews, the website expands on and provides updated information, resources, and enhanced navigation [...]
