News & Analysis as of

Department of Financial Services

Moore & Van Allen PLLC

NYS DFS September 4, 2018 Cybersecurity Compliance Deadline

by Moore & Van Allen PLLC on

Tuesday, September 4, 2018 marked the New York State Department for Financial Service’s deadline for compliance with several sections of cybersecurity regulation 23 NYCRR 500 (the “Regulation”). The Regulation covers any...more

Weiner Brodsky Kider PC

Washington Enacts New Consumer Loan Act Provisions Related to Mortgage Servicing

by Weiner Brodsky Kider PC on

The Washington Department of Financial Institutions, Division of Consumer Services, adopted amendments to the rules under its Consumer Loan Act revising various roles and duties of parties that invest in, own, and/or service...more

Wilson Elser

NYS DFS Guidance to Financial Institutions Servicing the Medical Marijuana Industry

by Wilson Elser on

On July 3, 2018, the New York State Department of Financial Services (DFS) issued guidance to New York chartered financial institutions encouraging banks to work with marijuana-related businesses. Motivated by the security...more

Morrison & Foerster LLP

Round 2 for the Title Insurance Industry, But the Fight Is Far from Over

by Morrison & Foerster LLP on

In February of this year, strict new regulations, promulgated by the New York Department of Financial Services (DFS), went into effect, banning title companies from engaging in a wide range of marketing activities that could...more

Saul Ewing Arnstein & Lehr LLP

Court Ends Short-Lived Regulation 208, Aimed at Curbing Title Insurance Marketing Expenses

In December 2017, the New York Department of Financial Services (“DFS”) promulgated Regulation 208 to rein in marketing activities of title insurance corporations, title agents, and closers. The goal of Regulation 208 was to...more

Weiner Brodsky Kider PC

NY Implements New Regulation Applicable to Consumer Credit Reporting Agencies

by Weiner Brodsky Kider PC on

On June 25, 2018, the New York Department of Financial Services (NYDFS) announced a final regulation requiring credit reporting agencies with significant operations in New York to register with the NYDFS and comply with the...more

Hinshaw & Culbertson LLP

Governor Cuomo Mandates Compliance by Credit Reporting Agencies with Sweeping New Cybersecurity Requirements

by Hinshaw & Culbertson LLP on

New York Governor Andrew Cuomo has issued a final regulation that requires credit reporting agencies doing business in New York to register annually with the Department of Financial Services (DFS) and also to comply with...more

Weiner Brodsky Kider PC

Florida Adopts Provisions Regarding Title Insurance Rebates and Inducements

by Weiner Brodsky Kider PC on

The Florida Department of Financial Services, Division of Insurance Agent and Agency Services, recently adopted new regulatory provisions regarding unlawful rebates and inducements relating to title insurance that constitute...more

Manatt, Phelps & Phillips, LLP

DFS Has NRA Relationships, Rent-to-Own Lenders in Its Sight

Banks in New York have been warned: The state’s Department of Financial Services (DFS) will be keeping a close eye on relationships with the National Rifle Association (NRA) and similar organizations....more

Sheppard Mullin Richter & Hampton LLP

New York’s AG Enters the Cryptocurrency Ring as Federal, State Authorities Find Regulatory Footing

On April 17, 2018, the New York State Attorney General (“NYAG”) sent a “Virtual Markets Integrity Initiative Questionnaire” to 13 companies operating virtual currency trading platforms. The questionnaire consists of 34...more

Weiner Brodsky Kider PC

NY Regulator Issues Consumer Alert on Rent-to-Own and Land Installment Contracts

by Weiner Brodsky Kider PC on

The New York Department of Financial Services (NYDFS) recently issued an alert, warning consumers to use caution before entering into any rent-to-own, land installment contracts, or other forms of alternative home purchase...more

Stroock & Stroock & Lavan LLP

“Title Insurance: Is the Sky the Limit?”

In 2017, real estate sale and purchase numbers continued to rise. The largest single property sale reported in New York City in 2017 was the sale of 245 Park Avenue, for a purchase price of $2,210,000,000. As 2018 begins...more

Sheppard Mullin Richter & Hampton LLP

South Korea Steps Up Oversight of Cryptocurrency Exchanges

In January 2018, the Korea Financial Intelligence Unit (“KoFIU”) and the Financial Supervisory Service (“FSS”) conducted a joint inspection of six Korean banks that provide trading accounts for cryptocurrency exchanges. The...more

McDermott Will & Emery

Rapidly Shifting Regulatory Landscape for Virtual Currencies | Market Participants: Stay Tuned

by McDermott Will & Emery on

As US regulators have been active in terms of virtual currency regulation, there are three important updates to which attention should be paid. The New York State DFS guidance, the FinCEN letter to Senator Wyden and the...more

Manatt, Phelps & Phillips, LLP

New Guidance From SEC, New York’s DFS

Hoping to help covered entities, the Securities and Exchange Commission (SEC) released an update on cybersecurity while New York’s Department of Financial Services (DFS) published guidance for licensed virtual currency...more

Weiner Brodsky Kider PC

New York DFS Issues New FAQs Regarding Cybersecurity Regulations

by Weiner Brodsky Kider PC on

The New York Department of Financial Services (DFS) has issued four additional Frequently Asked Questions (FAQs) concerning its cybersecurity regulations that went into effect last year....more

McDermott Will & Emery

New York Department of Financial Services Guidance Complicates a Crowded Virtual Currency Regulatory Landscape

by McDermott Will & Emery on

On February 7, 2018, the New York Department of Financial Services issued “Guidance on Prevention of Market Manipulation and Other Wrongful Activity” imposing stringent reporting requirements of which virtual currency...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - February 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine the Identity Theft Research Center's findings on data breaches in 2017, the U.S. Supreme Court's denial of certiorari that leaves in place the circuit...more

Proskauer -  Blockchain and the Law

New York State Department of Financial Services Issues Guidance to Virtual Currency Entities

On February 7, 2018, the New York State Department of Financial Services (“DFS”) issued guidance for all virtual currency entities licensed by New York State regarding the prevention of market manipulation, fraud, and other...more

Manatt, Phelps & Phillips, LLP

New York DFS Cybersecurity Certifications Due

The time has come for entities regulated by the New York Department of Financial Services to make their first certification of compliance with the regulator’s cybersecurity rules....more

Goodwin

New York Department of Financial Services Issues Crypto Guidance; Outlines Enhanced Reporting Requirements

by Goodwin on

On February 7, 2018, the New York State Department of Financial Services (NY DFS) issued guidance to all virtual currency businesses that maintain a “BitLicense” or that are chartered as a limited purpose trust company under...more

King & Spalding

NY DFS Regulation: Certify Your Compliance by February 15 and Assess Your Risk by March 1

by King & Spalding on

The New York Department of Financial Services' (DFS) cybersecurity regulation (DFS Regulation), which took effect on March 1, 2017, imposes significant requirements on financial services companies doing business in New York....more

Manatt, Phelps & Phillips, LLP

Scrutiny for Online Lending in New York

The New York Department of Financial Services (DFS) may be taking a closer look at online lending, thanks to bills pending in the state legislature....more

Morrison & Foerster LLP

NYS Title Insurance Inducement/Marketing Regulations Go into Effect…for Now

by Morrison & Foerster LLP on

In October 2017, the New York State Department of Financial Services (DFS) announced new regulations designed to enforce a law prohibiting title companies and title agencies from obtaining title insurance business directly...more

Skadden, Arps, Slate, Meagher & Flom LLP

Rise of Blockchain and ICOs Brings Regulatory Scrutiny

In 2017, the increased adoption of blockchain technology in various industries was partially obscured by the dramatic fluctuations in the price of bitcoins and the prevalence of so-called initial coin offerings (ICOs) to...more

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JD Supra Privacy Policy

Updated: May 25, 2018:

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Links to Other Websites

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Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

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You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

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  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
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California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

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We use cookies and other tracking technologies to:

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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