Publication - 08/13/2012

New FTC Standards for Data Security?

Data Security Client Alert

When the Federal Trade Commission, in conjunction with the White House, promulgated its Consumer Privacy Bill of Rights in February 2012, one of the more intriguing considerations was that the FTC appeared to be setting up a matrix by which a company’s voluntary decision to adopt that matrix could become the basis for an FTC enforcement action. Now, after several months, it should be back at the forefront of data security considerations for U.S. businesses.

Earlier this summer, the FTC used that matrix in authorizing a federal action against Wyndham Worldwide Corp. and three of its subsidiaries – a development that highlights a possible change in stance from FTC Commissioner J. Thomas Rosch and illustrates for businesses the importance of developing detailed data/privacy policies.

Click on the PDF link above to view the full alert.

Bankruptcy Plans Go Up in Smoke: Marijuana Grower Denied Relief

The Legal Intelligencer
Joseph N. Argentina, Jr., Andrew C. Kassner

Andy Kassner and Joe Argentina discuss whether Colorado’s legal, licensed marijuana producers can avail themselves of federal bankruptcy law protection.

Debtor Sues Lenders for Alleged Violations of the Fair Credit Reporting Act

Creditors Digest
Stephen C. Baker, Christian Brito , Alan M. Kidd, Stephen A. Serfass, Nolan B. Tully

On September 18, 2015, Margaret M. Okamoto (“Plaintiff”) filed a complaint (the “Complaint”) in The United States District Court for the District of Nevada alleging violations of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. (the “FCRA”), against, inter alia, Bank of America, N.A. (“BOA”), Mutual of Omaha Bank (“MOB”), and Experian Information Solutions, Inc. (collectively, “Defendants”). See Okamoto v. Bank of America et al., No. 2:15-cv-01800-GMN-GWF (Sept. 18, 2015).

IRS Provides Guidance on Fund of Funds

Investment Management Alert
Brian DeVirgilio, Glenn E. Ferencz, Thomas Gray

On September 15, the Internal Revenue Service published final regulations revising examples related to the application of the controlled group rules to regulated investment companies (RIC) and how the controlled group rules affect the diversification tests that a RIC needs to satisfy.

Third Circuit Wraps Up Chocolate Price-Fixing Case

Antitrust Alert
Todd N. Hutchison, Brynne S. Madway, Paul H. Saint-Antoine

On September 15, 2015, the United States Court of Appeals for the Third Circuit affirmed the district court’s summary judgment decision in In re Chocolate Confectionary Antitrust Litigation, which we reported on last year.

Texas and California Appellate Courts Soundly Reject the Concept of Forced Servicing

Structured Settlement Alert
Stephen R. Harris, Michael J. Miller, Lisa D. Stern

Structured Settlement Protection Acts (SSPAs) have been enacted in 48 states to regulate structured settlement factoring transactions.