United States:
New York Department Of Financial Services Imposes Penalty And Consent Order For Cybersecurity Violations
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The New York Department of Financial Services
(“NYDFS”) fined a mortgage bank $1.5 million for
violations of New York’s Cybersecurity Regulation, including
failure to report a past cyber incident.
On March 3, 2021, the NYDFS announced it had entered into a consent order with a mortgage bank for
violating New York’s first-in-the-nation Cybersecurity Regulation, which became
effective in March 2019. The settlement results from the
agency’s findings during a routine compliance examination that
the mortgage bank had failed to investigate adequately a cyber
incident that exposed…
