News & Analysis as of

Financial Services Industry Banking Sector NYDFS

Jenner & Block

[Ongoing Program] CLE Relay – Session 3 – Hot Topics in Fintech and Crypto - June 7th, 10:00 am - 11:00 am PDT

Jenner & Block on

This session will provide a survey of key issues and trends impacting the fintech and digital assets community as well as the future opportunities and challenges presented for these financial products and services. It will...more

Mayer Brown

Better Know Your CEO: New York Issues Final Guidance on Character and Fitness

Mayer Brown on

The New York Department of Financial Services (NYDFS) issued final supervisory guidance on January 22, 2024, to New York banking institutions and financial services companies licensed by the NYDFS. The guidance sets forth the...more

Orrick, Herrington & Sutcliffe LLP

NYDFS pens guidance for vetting key senior officials within financial institutions

On January 22, NYDFS issued an industry letter titled “Guidance on Assessment of the Character and Fitness of Directors, Senior Officers, and Managers” for banks and other financial institutions (Covered Institutions) to...more

Orrick, Herrington & Sutcliffe LLP

New York Department of Financial Services Finalizes Amended Cybersecurity Regulations

On November 1, the New York Department of Financial Services (NYDFS) amended its cybersecurity regulations to set additional notification, administrative, training and technical requirements. The Amended Cybersecurity...more

A&O Shearman

NYDFS Finalizes Significant Amendment to Part 500 Cybersecurity Regulation

A&O Shearman on

On November 1, 2023, the New York State Department of Financial Services (“NYDFS”) issued its Second Amendment (the “Amendment”) to its Cybersecurity Requirements for Financial Services Companies adopted in 2017, codified in...more

Jenner & Block

Client Alert: New York Issues Significant Amendments to its Forward-Leaning Cyber Regulations

Jenner & Block on

In 2017, the New York Department of Financial Services (“NYDFS”) enacted a landmark regulation requiring financial services institutions such as banks and insurance companies in the state to meet substantial cybersecurity...more

Orrick, Herrington & Sutcliffe LLP

NYDFS publishes new proposal on cybersecurity regs

On June 28, NYDFS published an updated proposed second amendment to the state’s cybersecurity regulation (23 NYCRR 500) reflecting revisions made by the department in response to comments received on proposed expanded...more

Ballard Spahr LLP

NYDFS releases Industry Guidance Letter on Assessment of the Character and Fitness of Directors, Senior Officers, and Managers

Ballard Spahr LLP on

NYDFS recently issued Proposed Guidance “to New York State-regulated banking organizations and regulated non-depository financial institutions to notify them of the Department’s expectation that they update their framework...more

Hogan Lovells

Post-SVB events and implications: News and subsequent analysis 2023 banking crisis update

Hogan Lovells on

Federal and state financial regulators have released after-action reports regarding the recent closures of Silicon Valley Bank (SVB) and Signature Bank. Especially when viewed in the light of First Republic Bank’s failure...more

Orrick, Herrington & Sutcliffe LLP

NYDFS proposes guidance on vetting personnel for entities licensed or chartered under NY banking law

On May 9, NYDFS Superintendent Adrienne A. Harris released proposed guidance for banking organizations and non-depository financial institutions chartered or licensed under the New York Banking Law concerning the Department’s...more

Blank Rome LLP

New York State Department of Financial Services Proposes More Changes to Its Cybersecurity Requirements

Blank Rome LLP on

In this article, the authors discuss a second amendment proposed by the New York State Department of Financial Services to its Cybersecurity Requirements for Financial Services Companies. The New York State Department of...more

Venable LLP

Four Cybersecurity Law Issues for Financial Services to Track in 2023 | Insights

Venable LLP on

The financial services sector must already contend with a maze of regulations in a variety of areas, and 2023 is poised to usher in new cybersecurity regulations for the industry. Organizations should ensure their security...more

Baker Donelson

Countdown Begins for Compliance with New York's Commercial Finance Disclosure Law as New York Issues Final Rule

Baker Donelson on

The New York State Department of Financial Services issued its final rule on February 1, 2023, implementing the state's new Commercial Finance Disclosure Law. Commercial financing providers that are subject to the law have a...more

McDermott Will & Emery

"Control" of Insurers: A Concept That Remains a Work in Progress

The concept of “control” of insurers received significant attention from state insurance regulators last year and will receive even more in 2023. We wrote a brief report in April 2022 following the New York Department of...more

Alston & Bird

New York State Department of Financial Services Outlines Prior Approval Process for Virtual Currency-Related Activity

Alston & Bird on

The New York State Department of Financial Services has issued an industry letter detailing the prior approval process for all New York banking organizations seeking to engage in new or significantly different virtual...more

BCLP

Banking Bites - November 2022

BCLP on

Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

Troutman Pepper

NY Department of Financial Services Reaches Settlement With Bank Over Alleged Fair Lending Violations Involving Auto Dealer...

Troutman Pepper on

On October 6, the New York State Department of Financial Services (NYDFS) announced a consent order with Rhinebeck Bank (Rhinebeck) to resolve allegations that, in violation of New York Executive Law Section 296-a, the bank...more

Hudson Cook, LLP

New York DFS Releases Proposed Commercial Finance Disclosure Regulations

Hudson Cook, LLP on

On September 14, 2022, the New York Department of Financial Services (the "DFS") released proposed regulations implementing the New York Commercial Finance Disclosure Law (the "CFDL"). The proposed regulations are open to...more

King & Spalding

New York Department of Financial Services Proposes New Cybersecurity Rules

King & Spalding on

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Part 500 Cybersecurity Rules, which propose substantial new obligations for the cybersecurity programs of companies...more

Ballard Spahr LLP

NY Dept. of Financial Services issues overdraft/NSF fee guidance

Ballard Spahr LLP on

The New York State Department of Financial Services (DFS) has issued an Industry Letter providing guidance on overdraft and non-sufficient funds (NSF) fees to depository institutions that it supervises....more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - June 2022 # 4

Troutman Pepper on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Holland & Knight LLP

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

Holland & Knight LLP on

Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - December 2021 #3

Troutman Pepper on

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Ballard Spahr LLP

NY DFS proposes regulation on disclosures for commercial financing transactions

Ballard Spahr LLP on

The New York Department of Financial Services has issued a proposed regulation to implement S 5470–B, which requires consumer-like disclosures for “commercial financing” transactions of $2.5 million or less. The proposed...more

Locke Lord LLP

New Superintendent of The Department of Financial Services for New York Selected

Locke Lord LLP on

Governor Kathy Hochul announced that Adrienne Harris has been nominated as the new Superintendent of The New York State Department of Financial Services. Ms. Harris’ background includes being a former economic advisor to...more

139 Results
 / 
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide