Cyber Security Practitioner
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Volume: 4 Issue: 8
(August 2018)

laboratories invention nydfs reaches out regulate consumer credit reporting agencies july 2018 new york state department financial services (‘nydfs


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Laboratories of invention: NYDFS reaches out to regulate consumer credit reporting agencies

In July 2018, the New York State Department of Financial Services (‘NYDFS’) put into force amendments to Article 23 of the New York Codes, Rules and Regulations (‘NYCRR’), which brings credit reporting agencies under the scope of the DFS and its ‘Cybersecurity Requirements for Financial Services Companies.’ This state action is thought to have been taken in direct response to the high profile Equifax data breach that was disclosed in September 2017, and here F. Paul Greene, Partner at Harter Secrest & Emery LLP, discusses this context as well as the new cyber security requirements that credit reporting agencies will now be required to comply with in New York.

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