“Why does Radio Shack ask for your phone number when you buy batteries?“

Much has been written of late about data breaches and the liabilities for the unauthorized acquisition of Personally Identifiable Information (PII) from institutions. But what about when the alleged “breach”--the release of information --is voluntarily and/or legally compelled? What are the risks to businesses when they sell assets that include PII? What liabilities do they face? What are the rights of customers?

Radio Shack – The pioneer of PII data collection

Filed under:
USA, Insolvency & Restructuring, IT & Data Protection, Frost Brown Todd LLP
Authors:
Stephen E. Embry , Jennifer A. Rulon
Location:
USA
Firm:
Frost Brown Todd LLP
Developments in the rules governing Personal Identifiable Information may have unexpected consequences for lenders and other businesses

Much has been written of late about data breaches and the liabilities for the unauthorized acquisition of Personally Identifiable Information (PII) from institutions, including financial institutions. But what about when the alleged “breach”--the release of information --is voluntarily and/or legally compelled? What are the risks for creditors who take collateral, in security for the repayment of debt, containing PII data? What are the risks to businesses when they transfer assets that include PII? What liabilities do they face? What are the rights of customers?

Filed under:
USA, Banking, Insolvency & Restructuring, IT & Data Protection, Litigation, Frost Brown Todd LLP
Authors:
Stephen E. Embry
Location:
USA
Firm:
Frost Brown Todd LLP