Do your company’s cybersecurity practices deceive consumers?

Not a day goes by without breaking news of a cybersecurity breach. Indeed, thoughts of a system hack keep many executives up at night. Small- and medium-sized businesses often fear that they do not have the robust resources or staff to adequately handle these threats.

The Consumer Financial Protection Bureau (CFPB) has now weighed in on these issues with a consent order that delivers cybersecurity guidelines.Of particular importance is the fact that the CFPB has now used its ultimate weapon — Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) — as a tool to ensure that companies adopt effective security protocols.

For a detailed analysis of the CFPB's consent order and what it means for consumer-facing businesses, read the latest Cybersecurity Insight

Federal Regulatory