CFPB issues first data security penalty

  Image Source: Article

Image Source: Article

In the first case of its kind, the Consumer Financial Protection Bureau took action against an online payment platform, claiming that the company deceived consumers about the company’s data security practices and the safety of its online payment system.

The object of the agency’s claim is Dwolla, a Des Moines, Iowa, company founded in 2008 and which went live in 2009. 

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