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Notification Requirements Enforcement Actions Financial Services Industry

Baker Donelson

[Webinar] New Privacy and Cybersecurity Regulations: What Financial Institutions Need to Know to Stay Compliant - June 13th, 10:00...

Baker Donelson on

The financial services industry has seen a litany of new data privacy and cybersecurity challenges through the first half of 2024. Financial institutions are facing unprecedented compliance hurdles resulting from the...more

Dorsey & Whitney LLP

New York Department of Financial Services Signals Aggressive Enforcement Stance

Dorsey & Whitney LLP on

State Notifications Deemed to Trigger DFS Reporting of Non-material Breaches - Two successive Consent Orders have demonstrated the seriousness of non-compliance with New York’s Department of Financial Services financial...more

Faegre Drinker Biddle & Reath LLP

New York Department of Financial Services Announces $1.5 Million Settlement of Second Cybersecurity Enforcement Action

On March 3, 2021, the New York State Department of Financial Services (NYDFS) announced a settlement with Residential Mortgage Services, Inc. (RMS) for $1.5 million in connection with its violation of the NYDFS Cybersecurity...more

Ballard Spahr LLP

CFPB “Can Improve” Recordkeeping and Notifications of Purpose in Civil Investigative Demands, OIG Finds

Ballard Spahr LLP on

On September 20, 2017, the Federal Reserve’s Office of Inspector General (“OIG”) issued a report on the CFPB’s process for issuing Civil Investigative Demands (“CID”). The OIG found that the CFPB “generally complied” with...more

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