News & Analysis as of

Proposed Regulation Comment Period NYDFS

Mayer Brown

New York State Department of Financial Services Issues Proposed Artificial Intelligence Circular Letter

Mayer Brown on

On January 17, 2024, the New York State Department of Financial Services (“NYSDFS”) released a proposed circular letter addressing the use of external consumer data and information sources (“ECDIS”) and artificial...more

Ballard Spahr LLP

NYDFS Announces Updated Cybersecurity Regulation

Ballard Spahr LLP on

On November 9, 2022, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that the NYDFS formally proposed an updated cybersecurity regulation.  Although the updates had previously been...more

Ballard Spahr LLP

NYDFS publishes notice of proposed regulation on consumer-like disclosures for commercial financing transactions

Ballard Spahr LLP on

On October 20, 2021, the New York Department of Financial Services published a notice in the New York State Register announcing that it has issued a proposed regulation to implement S 5470–B, which requires consumer-like...more

Eversheds Sutherland (US) LLP

DFS proposes new framework for virtual currency regulations

New York State’s Department of Financial Services (DFS) has released a Request for Comments on a Proposed Framework for a Conditional BitLicense (Request for Comments) that DFS says will make it easier for start-ups to enter...more

Sullivan & Worcester

New York Proposed Guidance on Virtual Currencies

Sullivan & Worcester on

On December 11, 2019, the New York State Department of Financial Services ("DFS") issued two proposed changes to the regime that is in place in New York for the regulation and licensing of virtual currency ("VC") businesses....more

Ballard Spahr LLP

NY Dept. of Financial Services issues proposed student loan servicer regulations

Ballard Spahr LLP on

The New York Department of Financial Services (NYDFS) has issued proposed regulations to implement the legislation enacted in April 2019 that requires servicers of student loans to be licensed, imposes servicing standards,...more

Patterson Belknap Webb & Tyler LLP

Equifax: The Empire State Strikes Back

Yesterday, New York Governor Andrew M. Cuomo announced that he has directed the Department of Financial Services (DFS) to issue a new regulation requiring “credit reporting agencies to register with” the DFS, as well as...more

Jackson Lewis P.C.

New York Releases Revised Proposed Cybersecurity Regulations

Jackson Lewis P.C. on

The New York State Department of Financial Services (“DFS”) has released a revised version of its proposed cybersecurity regulations, which set regulatory minimum standards for protecting the customer information and...more

Bond Schoeneck & King PLLC

Cybersecurity and Data Privacy: New York State Department of Financial Services to Implement Regulations Applicable to All...

Following a public comment period, the New York State Department of Financial Services (DFS) has published a modified version of new regulations, previously issued on September 13, 2016, aimed at creating higher cybersecurity...more

Proskauer on Privacy

New York Department of Financial Services Proposes Cybersecurity Regulation

Proskauer on Privacy on

On September 13, 2016, New York Governor Andrew Cuomo announced that the New York Department of Financial Services (the “DFS”) proposed a regulation that would require banks, insurance companies, and other financial services...more

Akin Gump Strauss Hauer & Feld LLP

New York Department of Financial Services Proposes New Cybersecurity Regulations

New York Governor Andrew Cuomo announced last week a first-of-its-kind cybersecurity program for New York-regulated financial services companies that would impose broad new cybersecurity program requirements and require the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update: New York State Proposes Cybersecurity Regulation for Financial Institutions

New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more

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