Andrew L. Sandler Quoted in PaymentsCompliance Article, "What Does the First CFPB Order on Data Security Compliance Signal?'
March 16, 2016
Andrew L. Sandler was quoted in Mark Taylor's PaymentsCompliance article, "What Does the First CFPB Order on Data Security Compliance Signal?," on March 16, 2016.
Payments and fintech firms must consider very carefully how they furnish privacy policies and build in early compliance protections, legal experts have warned, following a ground-breaking consent order issued by a forceful U.S. regulator. PaymentsCompliance explores the issue.
Andrew L. Sandler, chairman, executive partner and co-founder of BuckleySandler law firm, said it was clear that the regulatory community was not satisfied with the industry’s response to high profile breaches and with regard to adequate protections then put in place.
“I don’t know if the CFPB will pursue the data protection angle in an overly heavy manner as it’s not really their core focus but we expect them to do some; however we'll see the New York Department of Financial Services and other state regulators do more,” he said.
“State attorneys general will do a lot in this area, and the prudential bank regulators are very much focused on data security, along with the FTC.”
Originally published in PaymentsCompliance; reprinted with permission.