United States:
FTC Settles With Loan Application Company For Unlawfully Selling Consumer Data
20 September 2017
by
Daniel J. McLoon
,
Mauricio Paez
,
Richard Johnson
,
Jonathon Little
,
Kevin Lyles
,
Todd McClelland
,
Jeff Rabkin
,
Lisa M. Ropple
,
Adam Salter
,
Michiru Takahashi
,
Undine Von Diemar
,
Olivier Haas
,
Jörg Hladjk
and
Anand Varadarajan
Jones Day
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FTC Settles with Loan Application Company for Unlawfully
Selling Consumer Data On July 5, the FTC settled with a lead generation business for
unlawfully selling consumer loan application data to "a
variety of entities without regard for how the information would be
used or whether it would remain secure." According to the
FTC's press release, the company "promised to
protect and secure the sensitive information consumers
provided," but "sensitive personal and financial
information was shared and sold indiscriminately without
consumers' knowledge or consent." The settlement, which
includes a judgment for $104 million, is suspended based on
defendants' inability to pay.
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