JONES DAY TALKS®: Financial Regulators and Asset Managers Warm to Acknowledging Climate Risks
New York Department of Financial Services (DFS) is concerned that AI’s self-learning behavior increases the risks of unlawful or unfair discrimination. DFS will audit insurers’ use of AI. Such insurers need to maintain...more
Newly enacted Banking Law 9-x, signed by New York Gov. Andrew Cuomo on June 17, 2020, provides certain financial institutions with a directive to address mortgage forbearances and repayment of deferred amounts granted during...more
On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
Update: On May 20, 2020, Chief Administrative Judge Marks issued Administrative Order 111/2020 announcing that e-filing through the NYSCEF system, including the filing of new non-essential matters, will be restored state-wide...more
On March 12, 2020, the Superintendent of New York State’s Department of Financial Services (“DFS”) issued an Order granting persons and entities impacted by COVID-19 temporary relief from certain requirements under New York...more
On March 10, 2020, the New York Department of Financial Services issued Insurance Circular Letter No. 5, titled “Guidance to Department of Financial Services Regulated Insurance Entities and Request for Assurance Relating to...more
The New York Department of Financial Services (DFS) recently issued Circular No. 5 that requires every regulated insurance entity to submit its plans to address the operational risk and identify, monitor and manage the...more