FTC Issues Advertising and Privacy Guidelines for Mobile Application Developers Reply

E-Commerce News provided by BuckleySandler LLP for informational purposes only, and should not be construed as legal advice on any subject matter.

September 12, 2012

On September 5, the FTC published “Marketing Your Mobile App: Get It Right from the Start,” a guide to assist mobile application developers in complying with federal advertising and privacy requirements.The Guide provides basic guidance and principles related to truthful advertising and consumer privacy protections. For example, the guide urges application developers to (i) disclose key information in advertising materials clearly and conspicuously, (ii) collect sensitive information only with user’s affirmative consent, and (iii) avoid collecting unnecessary data and ensure the security of any sensitive data that is collected.

Federal Reserve Banks Publish Report on Regulatory Landscape for Mobile Payments Reply

E-Commerce News provided by BuckleySandler LLP for informational purposes only, and should not be construed as legal advice on any subject matter.

August 12, 2012

Recently, the Federal Reserve Banks of Atlanta and Boston published a report on an April 2012 meeting of the Mobile Payments Industry Workgroup and representatives from federal and state banking regulators, the FTC, and the FCC to review the regulatory landscape for mobile payments. The paper notes that (i) remote payments and money transfers are beginning to emerge to facilitate person-to-person payments and cannot be ignored from a regulatory perspective, (ii) growth in nonbank money transfer services is subjecting more nontraditional technology-based companies to state money transmitter licenses and related regulatory oversight, and (iii) the CSBS and the Money Transmitter Regulators Association are creating a nationwide cooperative supervisory system for the coordinated multistate examination of money transmitters. The report also reflects the meeting participants’ consensus that the existing regulatory framework is sufficient for today’s mobile payment services. Still, the report states that the CFPB plans to review mobile payment disclosure practices to ensure that consumers have sufficient information in the event of account discrepancies, assess how disclosures are provided to consumers, and evaluate how the parties in mobile payment transactions handle error resolution and liabilities.