The Federal Trade Commission (FTC) has settled charges against PLS Financial Services, Inc., and The Payday Loan Store of Illinois, reports Hunton & Williams’ Privacy and Information Security Law Blog. The FTC complaint said the companies violated the FTC’s Disposal Rule and the Gramm-Leach-Bliley Act’s Privacy Rule and Safeguards Rule in their disposal of customer records, which included Social Security numbers and bank information. The records were placed in dumpsters near the retail stores. The companies will pay $101,500, implement information-security programs to be monitored for 20 years and “are enjoined from any future violations” of the Disposal, Privacy and Safeguards rule, the report states.
Full Story