News & Analysis as of August 11, 2025

New York

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

NY Department of Financial Services Issues Guidance to its Regulated Industry As a Result of the Ongoing Global Conflict

Bressler, Amery & Ross, P.C. on 6/24/2025

The New York State Department of Financial Services (the “Department”) has issued guidance (“Guidance”) to all individuals and entities regulated by the Department (“Regulated Entities”) to underscore the importance of...more

As Trump Administration rolls back CFPB’s work, New York wants to fill the void

Ballard Spahr LLP on 3/18/2025

As the Trump Administration attempts to drastically cut CFPB funding and staffing, New York regulators and legislators are attempting to fill what could be a void in consumer protection efforts....more

AI at the gate: NYDFS issues guidance on addressing new AI-driven cybersecurity risks under existing cybersecurity requirements

Eversheds Sutherland (US) LLP on 10/30/2024

On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter providing guidance on how DFS-regulated entities (covered entities) should be evaluating and responding to artificial...more

Empire State of Security: New York DFS Finalizes Significant Amendment to Financial Services Cybersecurity Regulation

Wyrick Robbins Yates & Ponton LLP on 12/5/2023

The New York State Department of Financial Services (“NYDFS”), which regulates financial services institutions including banks, insurance companies, and mortgage brokers, finalized an amendment to its Cybersecurity Regulation...more

New York Governor Proposes Stringent Cybersecurity Regulations for Hospitals

Jones Day on 12/1/2023

New York is the first state to propose cybersecurity requirements for all hospitals operating in the state to address patient safety and other cybersecurity related issues....more

NY Enhances Financial Cybersecurity Regulations

Sheppard Mullin Richter & Hampton LLP on 11/17/2023

New York recently announced amendments to the State Department of Financial Services’ cybersecurity regulations. The changes further solidify the state’s already comprehensive cybersecurity regulatory regime. The amendments...more

Cybersecurity Enforcement Update: New York Department of Financial Services Announces Amended Cybersecurity Regulations and Latest...

Faegre Drinker Biddle & Reath LLP on 7/18/2023

Recent enforcement actions and announcements show that state and federal regulators are continuing to focus intensely on cybersecurity and data protection. Notably, the New York Department of Financial Services (“NYDFS”)...more

NYDFS Issues Cybersecurity Guidance in Response to Events in Ukraine

Sheppard Mullin Richter & Hampton LLP on 3/9/2022

In light of Russia’s recent military actions in Ukraine, the New York Department of Financial Services issued guidance on its cybersecurity and virtual currency regulations. The Department is specifically concerned about...more

NYDFS Issues Supply Chain Management Guidance

Sheppard Mullin Richter & Hampton LLP on 5/26/2021

The New York State Department of Financial Services recently issued recommendations to financial institutions in the aftermath of the SolarWinds cyberattack. In that attack, hackers inserted malware into SolarWinds software...more

New York Department of Financial Services and National Securities Corporation Agree to $3 Million Settlement in Cybersecurity...

Faegre Drinker Biddle & Reath LLP on 4/27/2021

Earlier this month, the New York State Department of Financial Services (NYDFS) announced a settlement and consent order with National Securities Corporation (National Securities) for $3 million in connection with National...more

New York DFS Turns Up the Heat with Climate Change Bulletin

Bradley Arant Boult Cummings LLP on 12/1/2020

The New York Department of Financial Services (DFS) has issued a bulletin on climate change and financial risks to the financial institutions and insurance companies it supervises regarding the impact of climate change on...more

NY Department of Financial Services Statement on Climate Change: Implications for the Financial Sector

King & Spalding on 11/6/2020

State regulatory statements and guidelines for climate change readiness are emerging independent of federal government action. As climate change is not just about future impacts, financial institutions are compelled to...more

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