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Merchants Are Now Consumers? FTC Settles Action Against Payment Processor After Alleging Its Merchants Are "Consumers" | Troutman Pepper

On July 29, the Federal Trade Commission (FTC) filed a complaint and executed a stipulated order with payment processor First American Payment Systems LP (First American) and companies. ....

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New York Department Of Financial Services Issues Millions Of Dollars In Penalties, Signaling Increased Cybersecurity Enforcement - Technology

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On April 14, 2021, the New York Department of Financial Services
(DFS) announced it settled an enforcement action
against National Securities Corporation ( National
Securities ) related to claims under the Cybersecurity
Regulation, 23 NYCRR Part 500. The Consent Order imposes a $3 million penalty,
various remediation measures and represents a flurry of
cybersecurity activity by the regulator in the first quarter of
2021. Over the last two months DFS settled two enforcement actions
and issued amended charges against First American, the first charges under the Cybersecurity
Regulation, originally announced less than a year ago. ....

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