Home / Agencies / FTC / 2023-24412
Final Rule

Standards for Safeguarding Customer Information

Agency
FTC
Document Number
2023-24412
Published
November 13, 2023
Effective Date
May 13, 2024

Abstract

The Federal Trade Commission ("FTC" or "Commission") is issuing a final rule ("Final Rule") to amend the Standards for Safeguarding Customer Information ("Safeguards Rule" or "Rule") to require financial institutions to report to the Commission any notification event where unencrypted customer information involving 500 or more consumers is acquired without authorization.

Federal Register Source

This document is published by the Office of the Federal Register, National Archives and Records Administration. Access the full regulatory text, preamble, and docket comments below.

View Full Text on FederalRegister.gov →

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Frequently Asked Questions

What is the 2023-24412 Federal Register document?
Document 2023-24412 is a Final Rule published by the Federal Trade Commission in the Federal Register on November 13, 2023, with an effective date of May 13, 2024. The Federal Trade Commission ("FTC" or "Commission") is issuing a final rule ("Final Rule") to amend the Standards for Safeguarding Customer Information ("Safeguards Rule" or "Rule") to require financial institutions to report to the Commission any notification event where unencrypted customer information involving 500 or more consumers is acquired without authorization. View the original at https://www.federalregister.gov/documents/2023/11/13/2023-24412/standards-for-safeguarding-customer-information.
Is document 2023-24412 an economically significant rule?
No. Document 2023-24412 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.

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