Regulatory Alerts2023-12-20
Commonwealth of Pennsylvania Department of Banking and Securities v. Adcock Brothers, Inc.
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Adcock Brothers, Inc. for violating the Consumer Credit Code by failing to maintain a written information security program as required by the Gramm-Leach-Bliley Act. The settlement requires the company to pay a $500 fine and implement corrective actions to ensure ongoing compliance with information security standards. Adcock Brothers waived its right to a hearing or appeal in exchange for resolving the matter without further litigation.
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