Privacy Litigation Updates for the Financial Services Sector: Yodlee and Envestnet Sued for Data Disclosure and Processing PracticesConsumers 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.

Wesch v. Yodlee, Inc. and Envestnet, Inc.

A recent class action

FTC Eyes Vendor Oversight in Safeguards Rule SettlementOn 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