Navigating the NYDFS' Cybersecurity Guidance on AI — The Consumer Finance Podcast
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Climate Risk, the emerging risk
The NYDFS Updates Its Stringent Cybersecurity Regulations. Is This a Bellwether of Coming Industry Change? - The Consumer Finance Podcast
How the New York Department of Financial Services (DFS) Regulates Virtual Currency, a Close Look with Special Guest Kaitlin Asrow, Executive Deputy Superintendent of Research and Innovation, DFS
Compliance Into The Weeds - DFS Fines Carnival Cruise Lines for Cyber Failures
Compliance into the Weeds: DFS First Cyber Case-First American Title
Videocast: Asset management regulation in 2020 videocast series – Regulators step up pressure to implement LIBOR transition plans
Your Cyber Minute: State influences bring a new dawn of cyber regulations
Your Cyber Minute: Compliance with the Proposed NYDFS Cybersecurity Regulation
Your Cyber Minute: Harriet Pearson and Greg Lisa on the Proposed NYDFS Cyber Security Regulation
March 17, 2025 - Michelle W. Bowman, currently a governor on the Board of Governors of the Federal Reserve System, was nominated to serve as the vice chair of supervision....more
December 17, 2024- The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), and the incoming Chairman and current Committee Vice Chair, French Hill (AR-02), sent letters to the outgoing Biden...more
October 16, 2024 - New York State Department of Financial Services (DFS) issued new guidance to assist regulated entities in addressing and combating cybersecurity risks arising from artificial intelligence....more
May 30, 2024 - The Federal Reserve Board published a working paper entitled, “Central Banking Post Crises.” May 30, 2024 - The Federal Reserve Board published a working paper entitled, “Constructing high-frequency...more
Recently, the Industrial and Commercial Bank of China Ltd. (“ICBC”) entered into two consent orders. The first consent order is with the New York State Department of Financial Services (the “NYDFS”) for alleged deficiencies...more
On January 19, the Federal Reserve Board (FRB) and New York Department of Financial Services (NYDFS) each issued orders settling an action against a large global bank for alleged BSA/AML violations and other compliance...more
As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more
January 1, 2024- The U.S. Department of the Treasury's Financial Crimes Enforcement Network began accepting beneficial ownership information reports. January 2, 2024- The Office of the Comptroller of the Currency released...more
December 21, 2023- The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) took another major step in support of U.S. Government efforts to crack down on illicit finance and enhance corporate...more
December 7, 2023- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) and Banking Committee Republicans are calling on Federal Deposit Insurance Corporation Chairman Martin...more
November 1, 2023- The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. November 1, 2023- The U.S. Department of the Treasury's Federal Insurance...more
September 18, 2023- New York State Department of Financial Services (DFS) issued an update on an ongoing initiative to strengthen DFS oversight of virtual currencies. September 18, 2023- The Federal Reserve Bank of New...more
On April 28, 2023, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the United States Government Accountability Office (GAO), and the New York Department of...more
The recent collapse of two large regional banks, and the expedited sale of Credit Suisse due to similar challenges, have left many in the financial services industry uncertain about the future. What should we understand about...more
March 12, 2023- Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg released a joint statement on actions taken to protect the U.S. economy by...more
The financial services sector must already contend with a maze of regulations in a variety of areas, and 2023 is poised to usher in new cybersecurity regulations for the industry. Organizations should ensure their security...more
On February 9, the Federal Reserve released its hypothetical scenarios for its 2023 bank stress tests, and on February 10, the OCC also released hypothetical economic and financial market scenarios to be used by covered...more
February 1, 2023- Superintendent of Financial Services Adrienne A. Harris announced today that the New York State Department of Financial Services has adopted a new regulation relating to disclosure requirements for...more
January 23, 2023- New York State Department of Financial Services Superintendent Adrienne A. Harris released Regulatory Guidance to better protect customers in the event of an insolvency or similar proceeding....more
On June 8, 2022, the New York State Department of Financial Services (“NYDFS”) released industry guidance applicable to U.S. dollar-backed stablecoins issued by NYDFS-regulated entities (the “Guidance”)...more
July 13, 2022- Michael Barr, President Biden's nominee for Governor and Vice Chair for Supervision at the Board of Governors of the Federal Reserve System, was confirmed by the U.S. Senate....more
Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more
Mashreqbank, based in Dubai, agreed to pay $100 million to the New York Department of Financial Services, the Federal Reserve, and the Office of Foreign Asset Control for violation of the now-repealed Sudan Sanctions...more
Environmental, social, and governance (ESG) matters have become a focal point for investors and regulators. For financial institutions, and other companies, climate risk has become a key component, and an increasingly...more
As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more