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NYDFS Announces Draft Amendments to Cybersecurity Regulation

CFPB Monitor

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments, if adopted, would further regulatory trends and impose important new requirements on covered entities.

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Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. The timing will undoubtedly put pressure on regulators to push through strong regulation.

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New York now requires banks to report ransom payments

American Banker

The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.

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Cuomo Says Credit Reporting Firms Should Comply With NY’s Cybersecurity Rules

PYMNTS

New York Governor Andrew Cuomo announced that he wants credit reporting firms to comply with the state’s new cyber-security regulations in the wake of the massive Equifax hack , according to Reuters. The directive is the first of its kind in the country.

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Regulators Want Answers From Uber Over Hidden Hack

PYMNTS

Ride-hailing app company Uber, which made news when it covered up a huge data breach that exposed roughly 600,000 driver’s license numbers, could face investigations by regulators around the globe. 22), regulators in the U.K., s National Cyber Security Centre to determine how large the breach was and how many people in the U.K.

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New York regulators fine OneMain $4.25 million over cybersecurity practices

American Banker

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State bank regulators pick New York's Adrienne Harris to join FSOC

American Banker

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