Daily Briefs

New York issues regulation on consumer reporting agencies, requires compliance with cyber laws

July 02, 2018 |
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The New York Department of Financial Services issued a final regulation last week on “requirements and prohibited practices” for credit reporting agencies, requiring registration of agencies operating in New York, and compliance with the NYDFS’s cybersecurity rule.

The regulation requires all consumer reporting agencies that, in the past year, have “assembled, evaluated, or maintained” information on over 1,000 New York consumers to register with the NYDFS, and must renew the registration by Feb. 1 of each future year. Under...

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