The Federal Trade Commission (FTC) recently announced a newly updated rule that strengthens the data security safeguards that financial institutions are required to put in place to protect their customers’ financial information under the Gramm-Leach-Bliley Act (GLBA).
The FTC’s updated Safeguards Rule requires financial institutions under their jurisdiction to have measures in place to keep customer information secure and to explain to their customers their information-sharing practices. In addition to developing their own safeguards, companies covered by the Rule are responsible for taking steps to ensure that their affiliates and service providers safeguard customer information in their care.
Furthermore the FTC issued a supplemental notice of proposed rulemaking “seeking comment on whether to make an additional change to the Safeguards Rule to require financial institutions to report certain data breaches and other security events to the Commission.”
Join us for a live webinar with Becki Kuehn, Partner at Hudson Cook and Dailey Wilson, Sr. Associate at Hudson Cook for an in-depth discussion on what the changes are and how the updated rule will impact your organization. This event includes a live Q&A session moderated by Eric Ellman, Senior Vice President of Public Policy and Legal Affairs at Consumer Data Industry Association.