FTC Puts Software Companies and Service Providers on Notice of Broad Enforcement Powers Under Gramm-Leach-Bliley Act Safeguards Rule

The Federal Trade Commission (“FTC”) has put software companies and software service providers on notice it intends to interpret the Gramm-Leach-Bliley Act’s Safeguards Rule broadly to apply to businesses which make available software or services that serve financial, payroll, and accounting purposes and collect sensitive data on consumers and their employees. The FTC recently announced…

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