Skip to Content

Get Your FREE Consultation

Blog

CFPB Issues Consumer Advisory on Data Breach

February 4, 2014

This week, the Consumer Financial Protection Bureau (“CFPB”) published a consumer advisory to help consumers protect themselves in instances of data breach. The advisory follows recent news of breaches with respect to consumer payment card and other data.

Payment cards such as credit, debit, and prepaid cards are among the most commonly used financial products among consumers. It is estimated that more than 70 percent of Americans have at least one credit card. Debit cards are now used for more consumer purchases than credit cards; the use of prepaid cards is continuing to grow. Recently, data breaches have exposed millions of payment card accounts to potential fraud. Additionally, millions of consumers’ names and personal information appear to have been stolen separately from card information.

Read the CFPB’s consumer advisory here. The advisory references steps consumers can take to protect themselves from data theft. Consumers should monitor accounts on a regular basis for unauthorized charges or debits; they should alert the bank or card provider immediately if fraud is suspected; consumers should follow up with the financial institution or card provider if they find or suspect a fraudulent transaction and maintain copies of their card records; and consumers should avoid scams that ask for personal information over email or by phone.

Card providers should investigate reports of fraudulent activity and respond promptly. Consumers have a right to learn of and see the results of the investigation conducted by the bank or card issuer. If consumers are not satisfied with how their bank or card provider responds to a report of fraudulent charges, they can submit a complaint to the CFPB. Consumers can lodge a consumer complaint with the CFPB on its website.

TALK TO US NOW
FOR FREE
No Win, No Fee

Review Us

Martin & Jones, PLLC logo

“Forest, once again, my family and I thank you for obtaining another settlement on behalf of my Father. It’s almost uncanny that these checks seem to come at very opportune times. This one comes as we are expecting our fourth grandchild. It will provide her some sound footing towards her future college education, plus help Mom and Dad with the medical expenses. Sometimes, I think my Dad is helping you guys with this. Maybe so. Anyway, thank you again for your hard work.”

Contact Our North Carolina Personal Injury Law Firm

for a Consultation for Your Accident or Medical Malpractice Claim

Call us at 800-662-1234
TALK TO US NOW
FOR FREE
No Win, No Fee

The law firm you choose makes a difference. If you are the victim of an accident or an illness that someone else caused, the North Carolina personal injury law firm of Martin & Jones has the depth of experience, skills and sensitivity to make your road to recovery as smooth as possible. Whether you have experience with the legal system or have never hired a medical malpractice or personal injury lawyer before, our attorneys and staff will do our best to answer your questions, provide clear advice and prepare you and your family for what to expect. If you would like more information or to meet with one of our attorneys, please fill out the form below or call us at 800.662.1234.