Insights on Fair Credit Reporting Act,Nicole Friess

data brokers, data protection, David Vladeck, Fair Credit Reporting Act, FCRA, Federal Trade Commission, FTC, FTC consent, InfoLawGroup, information law group, personal information, privacy enforcement, Segalis, Teletrack

FCRA Violations Result in $1.8 Million FTC Penalty

By InfoLawGroup LLP on June 26, 2011

The Federal Trade Commission announced today that Teletrack, Inc. has agreed to pay $1.8 million to settle charges that the company sold credit reports for marketing purposes, in violation of the Fair Credit Reporting Act (FCRA). According to the FTC's complaint, Teletrack sells credit reports and other services to businesses that mainly serve financially distressed consumers. Teletrack's business customers include pay day lenders, rental purchase stores and non-prime rate auto lenders. These businesses use Teletrack's credit reports to decide whether and on what terms to extend credit to their customers.

Boris Segalis, broker, data protection, dealer, financial privacy, InfoLawGroup, information law group, information security, Nicole Friess, privacy, privacy assessment, privacy enforcement, privacy rule, Regulation S-P, Regulation SP, Safeguards Rule, SEC, Securities and Exchange Commission

Federal Privacy Enforcement Update: SEC Fines Executives for Privacy and Security Violations

By InfoLawGroup LLP on April 13, 2011

As we have reported previously on our blog, federal agencies, including the FTC, NLRB and EEOC have been very active in taking action against privacy and information security violations. This trend continues with the Securities and Exchange Commission's (SEC's) recent announcement of a settlement with three former executives a brokerage firm (GunnAllen Financial, Inc.). The SEC alleged that the former executives violated the Commission's Privacy Rule and Safeguards Rule (Regulation S-P) and aided and abetted the firm in violating these rules. This enforcement action marks the first time the SEC assessed financial penalties against individuals charged solely with violating Regulation S-P.