FTC Extends Deadline by Six Months for Compliance with Some Changes to Financial Data Security Rule
Angie Diedrich2022-12-21T14:05:19-06:00The Federal Trade Commission announced it is extending by six months the deadline for companies to comply with some of the changes the agency implemented to strengthen the data security safeguards financial institutions must put in place to protect their customers’ personal information. The deadline for complying with some of the updated requirements of the Safeguards Rule is now June 9, 2023. The Safeguards Rule requires non-banking financial institutions, such as mortgage brokers, motor vehicle dealers, and payday lenders, to develop, implement, and maintain a comprehensive security program to keep their customers’ information safe. The Commission is extending the deadline based on [...]