New York has closed a multi-year probe into car insurers’ failure to report timely information. That investigation, the New York State Department of Financial Services (NYDFS) said Monday (Feb. 24), has resulted in $20.4 million in fines on insurers who failed to provide insured vehicle information to the state’s...
PayPal will pay a $2 million penalty to New York state to settle the state’s allegations that the company had cybersecurity failures that led to a data breach. New York alleged that PayPal violated the state’s Cybersecurity Regulation by failing to use qualified personnel to...
New York’s financial watchdog has proposed new measures governing nonbank mortgage lenders. The New York State Department of Financial Services (DFS) says this new regulation would ensure these lenders are supporting access to home loans in the communities they serve, especially in neighborhoods with low- and moderate-income residents. “Everyone...
The New York State Department of Financial Services (DFS) issued new guidance to help DFS-regulated entities address and combat cybersecurity risks arising from artificial intelligence (AI). “AI has improved the ability for businesses to enhance threat detection and incident response strategies, while concurrently creating new...
April 28, 2023
In a scathing self-assessment, the Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, as regulator reports on Signature Bank’s collapse cite the lender’s “poor management.” The autopsy on failure has been released ahead of schedule. The 114-page unflinching and, at times, self-critical post-mortem review of the central bank’s […]
October 21, 2025
New York’s financial watchdog has issued new guidance on cybersecurity risks connected to third-party service providers. The guidance, announced Tuesday (Oct. 21) by the New York State Department of Financial Services (DFS), comes as organizations become increasingly dependent on such providers, and cyberattacks involving third-party entities continue to grow. “While third-party service providers have driven […]
February 24, 2025
New York has closed a multi-year probe into car insurers’ failure to report timely information. That investigation, the New York State Department of Financial Services (NYDFS) said Monday (Feb. 24), has resulted...
January 23, 2025
PayPal will pay a $2 million penalty to New York state to settle the state’s allegations that the company had cybersecurity failures that led to a data breach. New York...
December 17, 2024
New York’s financial watchdog has proposed new measures governing nonbank mortgage lenders. The New York State Department of Financial Services (DFS) says this new regulation would ensure these lenders are supporting access to home...