FTC Loses Data Security Case, But Defendant Loses Too

November 18, 2015 • Published Categories Industry Topics Tags , , , ,

Like the Wyndam Hotel case, the FTC was going after LabMD for suboptimal data security practices that led to consumer harm. Despite winning the case, LabMD has been affected in a big way. The cost and distraction of the legal battle drove the company out … Read more

Transaction Laundering: The Next Threat to the Payments Industry

June 10, 2015 • Published Categories Acquirer Programs Tags , , , , , , , ,

Cross posted by D. E. Wilson, Jr., Venable LLP Transaction Laundering (TL), sometimes referred to as “undisclosed aggregation,” or “factoring,” is a growing threat to the payments industry. Money laundering by another name, it is the dark side of payment facilitation, an established, legitimate aggregation model … Read more

What the FTC Might Look For in a Data Security Investigation in the Payments Industry

April 10, 2015 • Published Categories Industry Topics Tags , , ,

Guest post by Emilio Cividanes, Kelly DeMarchis and Rob Hartwell, Venable LLP The Federal Trade Commission (FTC or Commission) has a broad mandate to pursue “unfair or deceptive acts or practices in or affecting commerce.” One substantive area which the FTC has asserted falls under … Read more

A 2015 Road Map for Payment Processing Compliance

January 23, 2015 • Published Categories Industry Topics Tags , , , , , , , , , , ,

Guest post by Ellen T. Berge and Andrew Bigart, Venable LLP The past year was a big one for the payments industry with the introduction of new products, the growth of virtual currencies, and, of course, continued government pressure on payment processors and non-bank entities … Read more