- Of Counsel
Federal legislation currently governs the collection and use of certain kinds of consumer information. The Federal Trade Commission (FTC) is the organization that administers the consumer protection laws. The laws ensure accuracy, fairness and privacy for consumers’ personal information. Known collectively as the Fair Credit Reporting Act (FCRA), the current code contains numerous amendments that have passed since the original legislation was enacted. Presently, a law originally proposed in 2012 is again before Congress. The “Consumer Privacy Bill of Rights Act of 2015” is intended to give citizens a right to decide what personal information gets collected, how personal information is used, and to solidify a right for all American consumers to demand that their information be stored securely. Existing consumer protection laws include the Gramm-Leach-Bliley Act (GLBA) which requires financial institutions to explain its information-sharing practices to customers and to employ protocols to protect sensitive customer data. The FCRA also requires financial institutions that wish to share with affiliates certain information (i.e., your credit report) to first notify the consumer and allow an opportunity to opt out. Finally, the FTC recently issued a report outlining “best practices” that businesses engaged in the “Internet of Things” (“IoT”) can utilize to protect consumer privacy and security. The IoT refers to the ability of everyday objects to connect to the internet–objects that can send and receive data. For example: internet-connected cameras, home automation systems that turn on lights, and bracelets that share with friends how far you have biked/run that day. To read the full report, link to the FTC 2015 Staff Report. Before requesting, sharing or disclosing sensitive information, businesses should ensure that best practices are followed.
Nicholas is a member of the firm’s Business & Banking Practice Group and Real Estate Practice Group. Nick concentrates his practice in banking law, business formation, all aspects of business representation, and real estate. He will assist the firm’s Business & Banking Group in representing closely held businesses and local and national banks in business lending transactions as well as representing buyers and sellers of residential and commercial real estate.
On June 23, 2022, Mason, Griffin & Pierson, PC, Director, Edwin W. Schmierer, Esq., moderated a panel discussion presented by Affordable Housing Professionals of New Jersey (AHPNJ) concerning the status of affordable housing delivery for the Third Round and preparation for the Fourth Round which commences July 1, 2025. Mr. Schmierer is the President of AHPNJ. The panelists included a representative from the Fair Share Housing Center, former Executive Director of the New Jersey Housing and Mortgage Finance Agency, the Chief of Multifamily Program for NJHMFA and a professional planner who has served as a Special Court Master in 40 plus municipalities for the implementation of Third Round Affordable Housing Plans. Mr. Schmierer chairs the firm's Government Practice Group which represents over 30 municipal governing bodies, land use board and affordable housing committees throughout the State of New Jersey.