The FTC gave final approval to the Venmo/PayPal settlement resolving alleged violations of Section 5 of the FTC Act and the Gramm-Leach-Bliley Act’s Privacy and Safeguards Rules. As described in a previous blog post, the FTC alleged that Venmo made a variety of misrepresentations to consumers with respect to the availability of funds, the ability of consumers to control the privacy of their transactions, and its data security practices. Continue reading
The U.S. Circuit Court of Appeals for the 11th Circuit vacated the LabMD Federal Trade Commission order but did not challenge the Commission’s ability to use its unfairness authority to challenge inadequate data security practices in a closely watched case that tested the commission’s enforcement powers.
Vermont lawmakers recently passed a first-of-its-kind data broker law, which protects consumers from credit freeze fees, data fraud and clarifies data security requirements.