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Cybersecurity › Consent Order

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Arnall Golden Gregory LLP

Q&A With Allison Raley: Defending Against Government Investigations

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Q: What are the primary areas of focus in your practice related to government investigations? A: My practice primarily focuses on defense against enforcement actions brought by regulatory bodies such as the Office of Foreign...more

Troutman Pepper

More Privacy, Please – February 2024

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Editor’s Note: In recent regulatory and enforcement developments, the White House announced a new executive order aimed at strengthening cybersecurity at U.S. ports, and another executive order was issued to protect sensitive...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - December 2024

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The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Vinson & Elkins LLP

Cyber(in)security: New York Levies Fine for Failure to Implement Written Policies

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On November 27, 2023, the New York State Department of Financial Services (“DFS”) and First American Title Insurance Company (“First American”) entered into a consent order1 that resolved litigation over First American’s...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - October 2023

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Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Troutman Pepper

More Privacy, Please - September/October 2023

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Editor’s Note: The FTC continues to crack down on privacy and cybersecurity, including issuing a new warning to tax preparation companies and entering into a consent decree with 1Health.io. VPPA and BIPA litigation continues...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - August 2023

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The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Faegre Drinker Biddle & Reath LLP

Cybersecurity Enforcement Update: New York Department of Financial Services Announces Amended Cybersecurity Regulations and Latest...

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Recent enforcement actions and announcements show that state and federal regulators are continuing to focus intensely on cybersecurity and data protection. Notably, the New York Department of Financial Services (“NYDFS”)...more

Faegre Drinker Biddle & Reath LLP

New York Department of Financial Services Levies $1.2 Million Fine on Cryptocurrency Platform for Violations of Cybersecurity...

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A recent consent order between the New York State Department of Financial Services (“NYDFS”) and cryptocurrency trading platform, bitFlyer USA (“bitFlyer”), shows that the NYDFS continues to utilize an aggressive enforcement...more

Patterson Belknap Webb & Tyler LLP

DFS Announces Consent Decree with OneMain Financial Group, LLC

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By press release on May 25, 2023, The New York Department of Financial Services (“DFS”) announced a Consent Order with OneMain Financial Group LLC (“OneMain”) for failing to comply with the DFS’s Cybersecurity Regulation (23...more

Harris Beach PLLC

Recent New York Cybersecurity Enforcement Provides Latest Reason for Companies to be Proactive

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New York’s Department of Financial Services signaled once again its intent to strongly enforce the state’s Cybersecurity Regulation by finding OneMain Financial Group violated the law in several ways and imposing a $4.25...more

Orrick, Herrington & Sutcliffe LLP

Top 5 Takeaways from NYDFS $1.2 Million Fine in Cybersecurity Case

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On May 1, the New York Department of Financial Services (“NYDFS” or “Department”) and a trading platform entered into a consent order to resolve deficiencies identified during examinations conducted in 2018 and 2020. The...more

Jackson Lewis P.C.

NYSDFS Fines Lender and Mortgage Servicer $4.25M for Cybersecurity Failures Including Vendor Management

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Yesterday, New York’s Department of Financial Services (“DFS”) announced another enforcement action under the state’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R. Part 500 (“Reg 500”). According...more

BakerHostetler

NYS DFS Focuses on Cybersecurity Violations and Increasing Crypto Resources

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On May 1, 2023, the New York State Department of Financial Services (DFS or Department) issued a consent order (Consent Order), imposing a $1.2 million fine on bitFlyer USA, a cryptocurrency trading platform and custodial...more

Orrick, Herrington & Sutcliffe LLP

Crypto trading platform reaches $1.2 million settlement to resolve alleged compliance failures

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On May 1, NYDFS issued a consent order against a cryptocurrency trading platform for engaging in alleged violations of the state’s cybersecurity regulation (23 NYCRR Part 500)...more

Snell & Wilmer

Federal Trade Commission Finalizes Order Holding Drizly, LLC and Its CEO Accountable for Data Security Failures

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On January 9, 2023, the Federal Trade Commission (“FTC”) finalized an order with Drizly, LLC, an online marketplace for alcohol delivery services, and its Chief Executive Officer (“CEO”), James Cory Rellas over alleged...more

BakerHostetler

US Crypto Exchange Consents to $100M DFS Settlement for AML Compliance Failures

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On January 4, 2023, the New York State Department of Financial Services (“DFS”) announced that Coinbase, Inc., a major U.S. cryptocurrency exchange, will pay a $50 million penalty and invest an additional $50 million in its...more

Polsinelli

New York Department of Financial Services Announces a $1.9 Million Settlement With Insurance Agency For Violations of New York’s...

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The New York Department of Financial Services (“NYDFS”) recently announced it has entered into a Consent Order with an insurance agency for alleged violations of New York’s Cybersecurity Regulation (the “NY Cybersecurity...more

Shipkevich PLLC

Coinbase Agrees To Settlement With New York Regulator

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On January 4, 2023, the New York State Department of Financial Services issued a consent order against Coinbase, a virtual currency company. Pursuant to the consent order, Coinbase will be paying a $50 million penalty to the...more

Farella Braun + Martel LLP

Cybersecurity Regulation: Key Takeaways From an Unusual FTC Order That Will Follow CEO for a Decade

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The FTC recently issued a proposed order that would settle an enforcement action against Drizly, LLC and its co-founder and CEO, James Rellas, arising from data breaches in 2018 and 2020 that affected over 2.5 million...more

ArentFox Schiff

November 2022 AFS Privacy Report: FTC Is Tracking Twitter Developments With “Deep Concern”

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FTC Is Tracking Twitter Developments With “Deep Concern” - Elon Musk’s recent purchase of Twitter has led to numerous resignations in the security department. Most recently, Twitter’s chief information security officer,...more

Kramer Levin Naftalis & Frankel LLP

Proposed FTC Order Targets Drizly and Its CEO for Allegedly Lax Information Security Standards Following Data Breach

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On Oct. 24, the Federal Trade Commission (FTC) issued a proposed decision and order against Drizly LLC and its CEO regarding allegations that the company’s security failures led to a data breach exposing the personal...more

Alston & Bird

Recent FTC Order Has Implications for Executive Liability and Corporate Data Minimization Practices

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On October 24, 2022, the Federal Trade Commission (“FTC”) announced a proposed consent order against both Drizly LLC, an online marketplace for alcohol delivery, and its CEO over the company’s alleged security failures that...more

Alston & Bird

NYDFS Announces Significant Cybersecurity Settlement with EyeMed Vision Care

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On October 18, 2022, EyeMed Vision Care LLC (“EyeMed”) entered into a Consent Order with the New York Department of Financial Services (“DFS”) relating to a cybersecurity event from 2020 that exposed consumer nonpublic...more

BakerHostetler

New York State Department of Financial Services Publishes First Crypto Industry Consent Order

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​​​​​​​On August 1, 2022, the New York State Department of Financial Services (“DFS” or “Department”) issued a Consent Order, imposing a $30 million fine on Robinhood Crypto, LLC (“Robinhood”), a trading platform that allows...more

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