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Your Cyber Minute: Compliance with the Proposed NYDFS Cybersecurity Regulation
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While uncertainty continued to loom over the CFPB, the states did not take a spring break. Instead, we saw an eye-popping settlement from NY DFS involving BSA/AML claims. And both republican and democratic AGs continued to...more
Keypoint: New York has amended its data breach notification law twice in the last 60 days to (1) add a 30-day deadline for notifying affected residents, (2) clarify that covered financial entities must still notify the New...more
On February 14, the Governor of New York signed into law SB 804 (the “Act”), which amends the general business law concerning when and how notifications for data breaches are provided to the New York Department of Financial...more
On December 24, New York Gov. Kathy Hochul (D) signed into law an amendment to section 899-aa of the N.Y. General Business Law, also known as The Shield Act, modifying the law’s data breach notification requirements....more
In December 2024, New York Governor Kathy Hochul signed into law two bills (A8872A and S2376B; collectively, the “Bills”) that amend New York’s Data Breach Notification Law. The Bills introduce a maximum thirty-day timeframe...more
The New York State Department of Financial Services (NYDFS) and the Attorney General’s office have recently imposed significant fines totalling $11.3 million on Geico and Travelers for data breaches that compromised the...more
The New York Department of Financial Services (“NYDFS”) recently published guidance on managing cyber risks related to AI for the financial services and insurance industry. Though the circular letter does not introduce any...more