Rachel M. Zahorsky reports: The American Bar Association came one step closer today to halting an attempt by the Federal Trade Commission to regulate the practice of law when the U.S. Senate unanimously voted that the commission’s “red flags rule” doesn’t apply to lawyers. The legislation at issue, which seeks to curb identity theft among…
Category: Federal
New FTC portal to assist businesses in complying with privacy and security laws
From the FTC’s press release: The Federal Trade Commission has a new Business Center at Business.ftc.gov that gives business owners, attorneys, and marketing professionals the tools they need to understand and comply with the consumer protection laws, rules, and guides the FTC enforces. The Business Center provides practical, plain-language guidance about advertising, credit, telemarketing, privacy, and a host…
Proposed S.3898 Amendment to the Electronic Fund Transfer Act Would Shift Risk of Loss to Banks
Richard L. Santalesa writes: Just a step below widows and orphans on the sympathy scale, at least when it comes to ripoffs and theft, sit school districts, boards and local municipalities. And in a era of tight budgets, when school districts are robbed of tax monies from halfway around the world via ACH/wire fraud, state…
Designing an Insecure Internet
Julian Sanchez also responds to the morning’s biggest story: If there were any doubt that the 90s are back in style, witness the Obama administration’s attempt to reignite the Crypto Wars by seeking legislation that would force Internet services to redesign their networks and products to provide a centralized mechanism for decrypting user communications. It cannot be stressed…
FDIC Requires Banks to Adopt Policies on Disposal of Information Stored on Office Equipment
Elizabeth Khalil writes: On September 15th, the Federal Deposit Insurance Corporation (FDIC) issued guidance(Financial Institution Letter FIL-56-2010, “FDIC Guidance on Mitigating Risk Posed by Information Stored on Photocopiers, Fax Machines and Printers”) urging banks under its supervision to ensure that they have written policies for the erasure or destruction of sensitive or confidential customer information stored in photocopiers, fax machines,…
Yet Another Proposed Federal Data Security and Breach Notification Bill: Senators Rockefeller and Pryor Jump Into the Fray
Tanya Forsheit writes: Many of us have watched over the past few years as dozens of proposed federal data security and breach notification bills have been introduced, often with bipartisan support, but have failed to become law. This year has seen many of the usual proposals. For those of you keeping track, this year’s bills…