Data Security News

Collections & Recovery

With identity theft a widespread issue in the financial services industry, banks and ARM companies are under increased pressure to ensure consumers’ sensitive identification, contact, and financial information is kept safe. In fact, a number of recent state and federal laws and regulations codify certain requirements for handling financial data. Firms in the ARM industry must adhere to a host of standards, including the Payment Card Industry Data Security Standard (PCI DSS), the financial privacy and safeguards rules in the Gramm–Leach–Bliley Act (GLBA), the FTC’s Red Flags Rule for identity theft, information security standard ISO 27002, HIPAA and the HITECH Act for the healthcare sector, and the Federal Information Security Management Act of 2002 (FISMA) for those collecting on government contracts. Auditing standard SAS 70 is also required for many in the financial services industry that use outside vendors such as debt collection agencies.

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‘Tennessee Information Protection Act’ with NIST Security Standards Enacted

24 May 2023

Indiana Enacts Comprehensive Consumer Data Privacy Law

4 May 2023

Iowa Becomes Sixth State to Enact Comprehensive Consumer Data Privacy Law

12 April 2023

Utah Amends Data Breach Notification Law

30 March 2023

CRC Comments on CFPB's Personal Financial Data Rights Proposal

14 February 2023

2022 Data Privacy Roundup – New Laws, Rulemaking, and Important Dates

12 January 2023

Companies With Lax Data Security Risk Running Afoul of FTC

15 December 2022

CFPB on Schedule with Consumer Data Privacy Rights Rulemaking Process

8 December 2022

CRC to FTC: Focus on Existing Laws not Creating Overlapping Regs

1 December 2022

FTC Extends Deadline for Updated Safeguards Rule by Six Months

23 November 2022

Third Circuit: Risk of Future Harm from Data Breach Enough for Article III Standing

1 November 2022

White House Issues Blue Print for AI Bill of Rights

26 October 2022

Credit Eco to Go: Fairness as a Service [Podcast]

7 September 2022

UDAAP Frenzy: The CFPB’s Focus on Data and Why it Matters to the ARM Industry

30 August 2022

FTC Seeks Input for Potential Data Privacy and Security Rulemaking

23 August 2022

CFPB Warns Failure to Safeguard Consumer Data May Be Unfair Act or Practice

15 August 2022

You Can't Avoid a Data Breach - Three Ways to Prepare for the Inevitable

23 June 2022

Executive Q&A: A Conversation with Steve Akers, CSO/CTO of TECH LOCK Inc.

2 June 2022

Utah Speedily Becomes Fourth State to Enact Consumer Data Privacy Legislation

5 April 2022

State Privacy Legislation Update: What’s New and What’s Ahead

15 March 2022