Colin H. Black

Nov 14, 2023 | jdsupra.com | Colin H. Black |Alexander B. Boyd

On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data breach involving the nonpublic personal information of at least 500 consumers. The amendment takes effect 180 days after publication in the Federal Register, which suggests an effective date in mid-2024.