Updates on Developments in Data Privacy and Cybersecurity
Fiserv, Inc. recently released the results of a survey suggesting banks are taking a “wait and see” approach to mobile payments. Fiserv commissioned and Forrester Consulting conducted the survey of 15 large U.S. banks, which found that most of the banks offered mobile banking services allowing customers to make transfers…
Continue Reading Survey Indicates Banks Taking “Wait and See” Approach to Mobile Payments
The deadline to submit comments in response to the Consumer Financial Protection Bureau (CFPB) Implementation Team’s notice to establish the “Consumer Inquiry and Complaint Database” is less than two weeks away.
Title X of the Dodd-Frank Act establishes the CFPB to enforce federal consumer financial laws through rulemaking, supervision, and…
According to a Federal Deposit Insurance Corporation survey of depository institutions, approximately 38 percent of institutions offer some form of remote deposit capture (RDC) service. RDC enables a customer to deposit checks and other items electronically through the internet or the customer’s mobile phone. The service was first authorized in…
Continue Reading Remote Deposit Capture Services Present Opportunity and Risk
We recently covered the Red Flag Program Clarification Act of 2010 in a blog post and client alert. The Act was intended to narrow the scope of the Federal Trade Commission’s Red Flags rule, which imposes requirements on creditors and financial institutions to detect and deter identity theft. Prior…
Over the weekend, President Obama signed into law the “Red Flag Program Clarification Act of 2010.” The Act is intended to narrow the types of entities that are subject to the Federal Trade Commission’s Red Flags rule, which requires financial institutions and creditors to take certain steps to prevent identity…
Continue Reading President Signs Into Law Legislation Narrowing Scope of Red Flags Rule
Last week, Congress delivered to President Obama for his signature the “Red Flag Program Clarification Act of 2010,” which is intended to narrow the types of entities that are subject to the Federal Trade Commission’s Red Flags rule. The Red Flags rule requires “financial institutions” and “creditors” to establish programs…
Continue Reading President to Sign Into Law Legislation Narrowing Scope of Red Flags Rule
