Cybersecurity Law Report | Two Settlements Show NYDFS’ Hidden Power to Use Other States’ Breach Laws

Our Privacy, Cyber & Data Strategy Team explores new guidance from the New York Department of Financial Services for covered entities to combat what it considers the most pressing cybersecurity risks of artificial intelligence (AI).

On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued an industry letter covering Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks (the “Industry Letter”).  The Industry Letter contains guidance for entities regulated by NYDFS (“Covered Entities”) in assessing and responding to cybersecurity risks related to the use […]

The post NYDFS Issues Guidance on Artificial Intelligence-related Cybersecurity Risks appeared first on Alston & Bird Privacy, Cyber & Data Strategy Blog.

What Happened? On December 21, 2023, the New York Department of Financial Services (“NYDFS”) published an 18-page guidance document (the “Guidance”) on managing material, financial and operational risks due to climate change. The NYDFS issued the Guidance after considering feedback it received on proposed guidance it issued in December 2022 on the same topic. The Guidance […]

The post New York DFS to Impose Climate Change Safety and Soundness Expectations on Mortgage Lenders, Servicers, and other Regulated Organizations appeared first on Alston & Bird Consumer Finance ABstract.