The Federal Trade Commission (FTC) this week announced a consent order with TaxSlayer, LLC, an online tax preparation services provider, to settle claims that the company violated the Gramm-Leach-Bliley Act (GLBA) Safeguards...more
The U.S. District Court for the District of Colorado recently dismissed a proposed class action lawsuit filed by financial institutions relating to a 2016 data breach that involved hundreds of Noodles & Company (Noodles)...more
7/27/2017
/ Banking Sector ,
Choice-of-Law ,
Class Action ,
Corporate Counsel ,
Cyber Attacks ,
Data Breach ,
Economic Loss Doctrine ,
Financial Institutions ,
PCI-DSS Standard ,
Personally Identifiable Information ,
Popular ,
Restaurant Industry
The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more
7/17/2017
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Covered Entities ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
NYDFS ,
Personally Identifiable Information ,
Popular ,
Risk Management ,
Third-Party Risk
The New York Department of Financial Services (NYDFS) announced today a revised regulation that will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain...more
12/29/2016
/ Banking Sector ,
Banks ,
Chief Information Security Officer (CISO) ,
Comment Period ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
NYDFS ,
Risk Management ,
Third-Party Service Provider
Three federal banking agencies have announced plans to develop new rules that would establish cyber risk management and resiliency standards for large interconnected entities under the agencies' supervision, as well as those...more
10/21/2016
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Cyber Attacks ,
Cybersecurity ,
FDIC ,
Federal Reserve ,
FFIEC ,
Financial Institutions ,
Financial Services Industry ,
Hackers ,
Handbooks ,
Incident Response Plans ,
OCC ,
Risk Management
The New York Department of Financial Services (NYDFS) will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain regulatory minimum standards." All financial...more
9/20/2016
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Consumer Lenders ,
Cybersecurity ,
Financial Institutions ,
Financial Services Industry ,
Information Technology ,
Mortgages ,
NYDFS ,
Popular ,
Risk Management
The Bank for International Settlement (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) last week issued the first internationally agreed-upon...more
7/7/2016
/ Bureau of Industry and Security (BIS) ,
Committee on Payments and Market Infrastructure (CPMI) ,
Corporate Governance ,
Cyber Attacks ,
Cybersecurity ,
Financial Institutions ,
Financial Markets ,
Gramm-Leach-Blilely Act ,
IOSCO ,
New Guidance ,
Risk Management