On March 2, 2016, the Consumer Financial Protection Bureau (CFPB) undertook its first data security enforcement action in a consent order against Dwolla, Inc., a payment network provider that allegedly made deceptive representations about its data security practices. The consent order makes clear that, going forward, consumer financial services companies will have to navigate another set of regulatory expectations as they work to secure consumer data against cyber threats.
On April 21, 2016, from 11:00 a.m. – 11:30 a.m. EDT, please join Mayer Brown lawyers Ori Lev, Stephen Lilley and David Tallman for a discussion of the CFPB’s Dwolla enforcement action and its implications for the consumer financial services sector. Further information and a link for registration can be found here.