FTC Applies GLBA & FTC Act Sanctions To Mortgage Lender

I anticipate that with the big $700 billion “rescue” plan the government is going to continue the increased compliance activities…

Perhaps it is just coincidental, but a few days ago the FTC settled with Texas-based mortgage lender Premier Capital Lending for failing to protect sensitive customer data.
Under the sanction, Premier Capital Lending must establish a comprehensive information security program and hire an independent third-party security professional to review the program biennially for 20 years. The FTC said Premier violated the Gramm Leach Bliley Act (GLBA) Safeguards Rule by not adequately securing data and breached the GLBA Privacy Rule and Section 5 of the FTC Act by failing to live up to its privacy promises.

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