Consumers are more aware than ever of data privacy and security issues. As technology develops, vast quantities of data are collected on individuals every minute of every day. Customers trust their institutions to keep the troves of financial data on them private and secure.
A recent class action
On December 15, 2020, the FTC announced a proposed settlement with Ascension Data & Analytics, LLC, a mortgage industry analytics company, related to alleged violations of the Gramm-Leach-Bliley Act’s (GLBA) Safeguards Rule. In particular, the FTC claimed that Ascension Data & Analytics’ vendor, OpticsML, left “tens of thousands of consumers[’]” sensitive personal information exposed “to