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FTC Settles Credit Report Complaints

PRIVACY LAW—U.S.

February 4, 2011

The Federal Trade Commission (FTC) has approved proposed settlements of complaints against three credit report resellers for lax security practices that resulted in hackers accessing more than 1,800 credit reports without authorization between October 2006 and June 2008, CIO reports. The settlements require each company to create comprehensive cybersecurity programs and obtain independent audits of the programs every other year for the next two decades. "These cases should send a strong message that companies giving their clients online access to sensitive consumer information must have reasonable procedures to secure it," said FTC Consumer Protection Bureau Director David Vladeck. The agreements will be available for public comment through March 7.
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