NYDFS

Our in-brief roundup of notable stories from the last week.

A NYDFS investigation following a ransomware attack uncovered an inadequate cybersecurity risk assessment.

NY’s proposal brings the department’s regulatory regime in line with US requirements while new ethics language in the CLARITY Act seeks to tamp down on conflicts of interest.

Although the MoU is not legally binding, it creates the blueprint for crossborder coordination in supervising and sharing information about stablecoin activities.

The state’s new rules would strictly cap late and other penalty fees that can cost consumers dearly.

The investigation, initiated in 2019, focused on Swedbank´s historical anti-money-laundering practices.

The guidance does not impose new requirements; it helps NYDFS-regulated institutions meet existing obligations in light of evolving vendor-related cybersecurity risks.

Superintendent Harris discussed the New York Department of Financial Services’s priorities and ongoing challenges.