Federal Financial Regulators Propose Requiring Banks Report Cyber Incidents Within 36 Hours
By EsqSocial Corporation 22/12/20
On December 17, 2020, the Office of the Comptroller of the Currency, Treasury (OCC); the Federal Reserve; and the Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking that would require financial institutions to notify their primary federal financial regulator, within 36 hours of becoming aware, that a “computer-security incident” or “notification incident” has occurred. The rule would also require bank service providers to notify “at least two individuals at...
By: WilmerHale