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Data Protection is Critical in Debt Collection: GLBA, Consumer Trust, and Best Practices to Protect Your Business

True Accord

In today’s financial landscape, regulators at both the federal and state level are driving accountability for companies when it comes to data protection and security. Failure to implement these best practices can result in a security incident or worse, a data breach.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On February 8, a New York bankruptcy judge ruled against cryptocurrency exchange Gemini’s claim that it has a secured claim on more than $800 million in Genesis Global Capital assets. Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. million penalty.