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What the CFPB’s first data security enforcement means
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Case Law, Consumer Protection, Nonbank Financial
Tuesday, March 8, 2016
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The Consumer Financial Protection Bureau used its authority for the first time to bring an enforcement action for unfair, deceptive or abusive acts or practices (UDAAP) under the Dodd-Frank Act against an online payment platform for deceptive representations of its data security practices. Read on to learn what the company specifically did and what this means for the industry.
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