In a recent blog post, “The Need for Cyber Liability Insurance in Debt Collection,” ACA International member company Weltman, Weinberg & Reis Co., LPA breaks down why cyber insurance is so crucial in the accounts receivable management industry.
When your personal data gets splashed around in a data breach, it isn’t your fault. Somebody else made a mistake. There was nothing the crypto investors who lost $1.4 billion in the ByBit crypto exchange hack could have done to prevent it. Even the creator of the popular HaveIBeenPwned breach tracking site was fooled by a phishing fraud. In some cases, like the National Public Data breach that exposed billions of SSNs, you can find out if your data got spilled. But you might never know if a potential employer shared your data with a third-party screening firm that failed to secure it.
New York Attorney General (AG) Letitia James recently announced her support for legislation that would significantly broaden the state’s consumer protection statute to prohibit not just deceptive acts, but also unfair and abusive business practices. The proposed Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act, an idea long backed by leaders of the Biden-era Federal Trade Commission and Consumer Financial Protection Bureau, has been introduced in both the New York State Senate and Assembly.
On March 28, the Consumer Financial Protection Bureau (CFPB or Bureau) was ordered by the U.S. District Court for the District of Columbia to reinstate its employees and resume its operations. This decision comes after the CFPB allegedly attempted to shut down its activities, leading to the National Treasury Employees Union (NTEU) filing a lawsuit questioning the legality of the shutdown. The court held that the CFPB’s actions to halt its operations and terminate its employees were not consistent with its statutory obligations under Title X of Dodd-Frank.
On Friday, March 28, Judge Amy Berman Jackson issued a 112-page opinion and 3-page order in National Treasury Employees Union, et al. v. Russell Vought, in his official capacity as Acting Director of the Consumer Financial Protection Bureau, et al, Civil Action No. 25-0381 (D.D.C.). Judge Jackson granted a motion for Preliminary Injunction which, in broad terms, enjoined the defendants from continuing to dismantle the CFPB without Congressional authorization to do so.
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