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Impact of The GLBA on Collection Agencies

Nexa Collect

This means all collection agencies must secure consumer data nearly the same way as banks. GLBA covers your employees and even your vendors that have access to your data. This includes your collection letter printing vendor, your software providers that have access to your data, and your Sales Representatives.

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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. The judge stated that since Genesis never transferred the assets, they cannot be considered as collateral pledged by the debtor. million penalty.