Member Alert: Safeguards Rule Data Breach Notification Requirement Now in Effect
On May 13, 2024, the amendment to the Gramm-Leach-Bliley Act Safeguards Rule went into effect requiring nonbank financial institutions to report to the FTC any unauthorized acquisition of unencrypted customer information involving at least 500 consumers.
The amendment requires that notification be made as soon as possible, and no later than 30 days after discovery of the […]