CFPB Weighs in on Data Security; Will Firms with Poor Security Be in the Crosshairs?

Friday, October 14, 2022 | 1:00 – 2:00 p.m. ET

There is no cost for this webinar.

Program Description

In the late summer, the Consumer Financial Protection Bureau (CFPB) issued a circular that concluded in no uncertain terms that insufficient data protection or information security could be considered an unfair practice under the Consumer Financial Protection Act. Circulars are general statements of policy circulated to other agencies, state and federal, that have overlapping authority with the CFPB to enforce federal consumer financial law, such as the Federal Trade Commission (FTC), Department of Justice, and state attorneys general, to name a few.

The CFPB specifically called out the need to implement specific “cost-efficient measures to protect consumer data”: multi-factor authentication, password management, and timely software updates. Additionally, the new Safeguards Rule enforced by the FTC remains the primary federal source of affirmative requirements for nonbanks. Join lawyers from Venable’s Financial Services Group and cybersecurity experts from the firm’s Cybersecurity Risk Management Group for a webinar that will discuss the impact of this circular and provide a primer on data security measures companies that collect and use consumer data should adopt or enhance.

For more information contact: Events@Venable.com

Speakers

• Andrew E. Bigart, Partner, Venable LLP
• Jeremy A. Grant, Managing Director of Technology Business Strategy, Venable LLP
• Alexandra Megaris, Partner, Venable LLP
• Ross B. Nodurft, Senior Director of Cybersecurity Services, Venable LLP

CLE Accreditation

This activity has been approved for Minimum Continuing Legal Education credit by the State Bar of California in the amount of one hour, of which one hour applies to the general credit requirement, by the State Bar of New York in the amount of one credit hour, of which one credit hour can be applied toward the areas of professional practice credit requirement, and by the MCLE Board of the Supreme Court of Illinois in the amount of one credit hour, of which one credit hour can be applied toward the general credit requirement. Venable certifies this activity conforms to the standards for approved education activities prescribed by the rules and regulations of the State Bar of California, State Bar of New York, and MCLE Board of the Supreme Court of Illinois, which govern minimum continuing legal education. Venable is a State Bar of California, State Bar of New York, and MCLE Board of the Supreme Court of Illinois accredited MCLE provider. This program is appropriate for both experienced and newly admitted attorneys.

For more information on CLE accreditation, please click here.