CPW has been covering data breach litigations for some time (as a reminder of recent rulings of significance, check out our prior posts here and here). This includes In Re: Wawa, Inc. Data Security Litigation and key related cases back in November and January. On Thursday, the U.S. District Court for the Eastern District of Pennsylvania issued its long awaited opinion, granting in part and denying in part a motion to dismiss filed by Wawa, a convenience store chain, stemming from a class action lawsuit filed against it by a group of credit unions following an alleged data breach. Read on to learn how it went down and what it may mean for other data breach litigations.
Nevada law allows for businesses to extend short-term, high-interest loans of various types to individuals, but sets a generally strict 210-day time limit to avoid the massive accumulation of interest. The law allows lenders to give grace periods after the 210-day timeframe, but only under the terms that a lender does not offer any new loan agreement or charge the customer additional interest.
Unlike Dollar Loan Center or other well-known “payday lenders,” TitleMax offers what are called title loans, which are extended after a person exchanges the title of their vehicle for collateral. State law prohibits title loans from exceeding the value of a car, but state regulators argued in court that the company’s “refinancing” practices violated the intent of the law.
Telrock supports its rapid growth with the appointment of a dedicated Chief Information Security Officer to its senior management team
Atlanta, GA and London, UK – May 12, 2021 – Telrock is proud to announce and welcome Ray Jackson as the company’s newly appointed Chief Information Security Officer (CISO). Ray has more than 20 years of experience in IT and Information Security (InfoSec) including a prior position at Moneycorp, a global payment services Fintech. Ray has extensive payment card security knowledge, through prior delivery of IT Security consultancy and as a Payment Card Industry (PCI) Data Security Qualified Security Assessor. Some of his impressive accreditations include CESG Certified Professional, Certified Information Systems Security Professional, and ISO27001 Certified ISMS Lead.
According to the software company Egress, 85% of organizations using Microsoft 365 have experienced an email data breach.
Over the last year, organizations worldwide have adopted remote work policies to mitigate the spread of COVID-19 in-house. During this time, companies have tapped virtual collaboration tools to enable remote operations with varying degrees of success. On Wednesday, software company Egress released a report titled “Outbound email: Microsoft 365’s security blind spot” highlighting email data breaches and IT frustrations during the coronavirus pandemic.
With 2019 novel coronavirus (COVID-19) vaccines available throughout the U.S., many employers are eager to normalize operations. For business planning purposes, surveying employees regarding their vaccination status may be a helpful tool in understanding if employee are, or plan to become, vaccinated.
If your business is considering surveying employees about their vaccination status, consider these four key legal areas before you act:
Consumers are continuing the pandemic-fueled habit of paying off credit card balances, a practice that now has bankers more than a little worried, The Wall Street Journal reported Tuesday (May 11). Some of the biggest banks in the U.S. are stepping up marketing efforts and sweetening the benefits pot to attract a larger and stronger customer base of card users. In earnings calls, some banks — Discover and Capital One for example — indicated that it’s been more than 20 years since people paid off credit card balances in the first quarter at the rate currently being seen now.
An overwhelming majority of Americans report having some kind of debt, and the number has been increasing in the past year, according to a new survey. While that phenomenon is reported across all age ranges, there are some notable generational differences.
This past year was a true roller coaster ride for lending businesses: sudden drops in consumer spendings as well as business spendings due to lockdowns, deteriorating credit performances, unemployments and PPP loans, unexpected acceleration in e-commerce and digitalization of financial services, favorable regulation changes, and more. I’m eager to hear directly from all these fintech industry experts at LendIt Fintech USA about what they have learned during the pandemic and what they think will be next for lending.
The Biden administration hasn’t made a decision when it comes to forgiving student loan debt, despite pressure from progressive Democrats that have called on the president to issue an executive order that would wipe out millions of borrowers’ debt.
There are definitely times when it feels like you’re on your own in the credit world — like it’s us against the big banks, with no one else on our side. But you do have one big ally in the fight for financial fairness: the Consumer Financial Protection Bureau (CFPB).