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 CFPB has issued its long-anticipated final rule for general purpose prepaid accounts. As expected, the new regulations expand the products covered by Regulation E, introduce significant new disclosure requirements,...more
10/7/2016
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Overdraft Fees ,
p2p ,
Prepaid Payment Products ,
Regulation E ,
Regulation Z
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 U.S. Treasury Department has released a white paper addressing the online marketplace lending industry. Based in part on the responses to Treasury's July 2015 Request for Information (RFI), the white paper offers a broad...more
5/16/2016
/ Community Development Entities ,
Consumer Lenders ,
Financial Institutions ,
Financial Services Industry ,
Loans ,
Online Marketplace Lending ,
Peer-to-Peer ,
Request For Information ,
Small Business ,
Transparency ,
U.S. Treasury
The federal body tasked with creating standards for the uniform regulation of financial institutions has released new information to assist examiners in evaluating mobile services offered by financial institutions and their...more
Following the trend of federal agency interest in fostering (and potentially regulating) innovation in the field of financial technology (FinTech), the Office of the Comptroller of the Currency (OCC) released the white paper...more
As consumers increasingly turn to mobile devices to pay their bills, shop online, and order rides and other services, a number of legal and practical questions emerge. Who regulates mobile financial services offered by...more
The CFPB recently released a report regarding the use of Mobile Financial Services by underserved populations, including low-income, unbanked, underbanked, and economically vulnerable consumers. The report does not contain...more