- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Senate has advanced the Protecting Children from Identity Theft Act, bipartisan legislation that would augment the ability of financial institutions to prevent synthetic identity fraud, a scam involving stolen Social Security account numbers.
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Banks, credit card companies and other financial mainstays will be required to comply with new data privacy and retail account portability regulations under a sweeping rule issued Tuesday by the Consumer Financial Protection Bureau.
T-Mobile, which experienced three huge data breaches in the past three years, agreed to pay $31.5 million in penalties and remediation for failing to protect millions of its customers’ personal information as part of a settlement with the Federal Communications Commission.
The Federal Trade Commission took aim at the business models of some of the world’s largest companies, publishing a years-long study that decried technologies that have created “vast surveillance” networks that expose people to “a host of harms” and violate children’s privacy laws.
