New York Department of Financial Services Announces $1.5 Million Settlement of Second Cybersecurity Enforcement Action
By EsqSocial Corporation 08/03/21
On March 3, 2021, the New York State Department of Financial Services (NYDFS) announced a settlement with Residential Mortgage Services, Inc. (RMS) for $1.5 million in connection with its violation of the NYDFS Cybersecurity Regulation, 23 NYCRR Part 500 (Part 500). This is the second publicly-announced settlement of an enforcement action brought under NYDFS’s novel cybersecurity regulation (we wrote about the first action)......
By: Faegre Drinker Biddle & Reath LLP