Inside Cybersecurity

December 1, 2021

Daily News

Major banking industry group backs new 36-hour incident notification requirement for financial sector

By Charlie Mitchell / November 22, 2021

A final rule requiring “banking organizations” to notify authorities of cyber incidents within 36 hours has the backing of the Bank Policy Institute, a major financial trade association, which says the federal regulation “establishes a clear timeline and flexible process for notifying regulators and affected parties when a significant incident occurs.”’

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation on Thursday issued a final...

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