With identity theft a widespread issue in the financial services industry, banks and ARM companies are under increased pressure to ensure consumers’ sensitive identification, contact, and financial information is kept safe. In fact, a number of recent state and federal laws and regulations codify certain requirements for handling financial data. Firms in the ARM industry must adhere to a host of standards, including the Payment Card Industry Data Security Standard (PCI DSS), the financial privacy and safeguards rules in the Gramm–Leach–Bliley Act (GLBA), the FTC’s Red Flags Rule for identity theft, information security standard ISO 27002, HIPAA and the HITECH Act for the healthcare sector, and the Federal Information Security Management Act of 2002 (FISMA) for those collecting on government contracts. Auditing standard SAS 70 is also required for many in the financial services industry that use outside vendors such as debt collection agencies.

See all Topics
Credit Eco to Go and insideARM podcast partnership [Image by creator  from ]

Credit Eco To Go: Data, Data Everywhere...

7 December 2021

 [Image by creator Chris Titze Imaging from AdobeStock]

11th Circuit Issues Substitute Opinion in Hunstein; Will Dissent provide Key for Defense Against Copycats?

29 October 2021

Man in a suit holding a large cardboard box that says "Dismissed" [Image by creator nito from AdobeStock]

Eastern District of New York Dismisses Six Hunstein Copy-Cat Cases; Questions Hunstein’s Viability After TransUnion

26 July 2021

 [Image by creator Andy Dean from AdobeStock]

Colorado Enacts Comprehensive Consumer Data Privacy Legislation

14 July 2021

A wall of file drawers, one of them open, holding orange file folders [Image by creator Maxim_Kazmin from AdobeStock]

Debt Collector in Hunstein Tells 11th Circuit that New SCOTUS Opinion Supports Request for Rehearing

28 June 2021

A spiral pad with the word "UPDATE" and a hand-drawn bar that is half filled and the word "loading" underneath [Image by creator Marco2811 from AdobeStock]

California Updates: Privacy Protection Agency Holds First Meeting; DFPI issues FAQs regarding State Licensing; and DFPI Commissioner Steps Down

22 June 2021

A wall of file drawers, one of them open, holding orange file folders [Image by creator Maxim_Kazmin from AdobeStock]

Second Circuit Ruling Clarifies When Data Breach Plaintiffs Have Adequately Plead Article III Standing

12 May 2021

 [Image by creator Alexander from AdobeStock]

ICYMI: New York DFS Settles With Mortgage Lender for Failing to Report Data Breach

13 April 2021

 [Image by creator Alexander from AdobeStock]

AMCA Enters 21 Million Dollar Settlement with States

17 March 2021

Image of road sign that says "Massachusetts Welcomes you" [Image by creator spiritofamerica from AdobeStock]

Mass. Releases Webinar on Examination and Legislation Strategy for Debt Collectors

21 January 2021

Person touching a mobile phone that says "Privacy" and has a picture of a lock [Image by creator maicasaa from AdobeStock]

FTC Announces Two Information Privacy and Data Security Enforcement Actions

19 January 2021

A binder that says "Guidelines" on the spine sitting on a desk with a pen, calculator, and open binder [Image by creator DOC RABE Media from AdobeStock]

CFPB Taskforce Report (Part 2): The 19 Focus Areas and 102 Recommendations of Volume 2

7 January 2021

Man holding an image of a digital ball floating in the air [Image by creator vegefox.com from AdobeStock]

Consumer Data Rulemaking Underway at CFPB: Here Are Four Things Your Company Should Know

28 October 2020

Brian McManamon and Stephanie Eidelman [Image by creator  from insideARM]

Isolating the Most Important Data Security Events: A Conversation with Brian McManamon

23 June 2020

Person touching a mobile phone that says "Privacy" and has a picture of a lock [Image by creator maicasaa from AdobeStock]

Data Privacy and Security: What’s Next for Debt Collectors?

10 October 2019

Person touching a mobile phone that says "Privacy" and has a picture of a lock [Image by creator maicasaa from AdobeStock]

Data Privacy Laws: Is Your Business Ready for What’s Coming?

31 July 2019

 [Image by creator aerogondo from AdobeStock]

Capital One Latest to Be Caught in Data Breach, Affecting 100M Consumers

30 July 2019

Image of smiling woman sitting cross-legged on a blue arm chair working on a laptop with floating words "data protection" and lots of white security icons [Image by creator Tierney from AdobeStock]

CFPB, FTC, and State AGs Settle with Equifax over 2017 Data Breach

22 July 2019

Man holding an image of a digital ball floating in the air [Image by creator vegefox.com from AdobeStock]

OIG: CFPB’s Internal Complaint-Sharing Tools Effective, but Concerns Over Protecting Sensitive Data

11 July 2019

 [Image by creator Frank Fennema from AdobeStock]

Data Breach Saga Continues: AMCA Files for Chapter 11 Bankruptcy

18 June 2019