By
Adrianne Appel2023-05-25T17:16:00
A mortgage servicer will pay $4.25 million to settle allegations it left customer information vulnerable to cyberattacks by failing to implement required controls under New York’s cybersecurity law.
OneMain Financial Group did not comply with requirements mandated by New York’s 2017 Cybersecurity Regulation, the New York State Department of Financial Services (NYDFS) stated in a consent order agreed to with the company and signed off on Wednesday.
OneMain had written policies for conducting due diligence related to third parties, as required by the regulation, but did not follow them, the NYDFS said. One outcome of this failure was that from December 2017 through January 2018, a vendor that processed debit card payments for OneMain inadvertently gave some customers access to other customers’ personal data, the NYDFS alleged.
2023-11-29T19:05:00Z By Adrianne Appel
First American Title Insurance Company agreed to pay a $1 million fine and implement stronger compliance measures for not securing customers’ personal data, the New York State Department of Financial Services announced.
2023-11-03T10:03:00Z By Adrianne Appel
New York will require financial institutions to conduct risk assessments more often and improve governance under a broad update to the state’s cybersecurity regulations.
2023-10-20T20:00:00Z By Kyle Brasseur
New York-based Metropolitan Commercial Bank was assessed nearly $30 million in penalties by federal and state banking regulators for failing to properly oversee a third-party program manager whose prepaid cards were a popular target of fraud during the Covid-19 pandemic.
2025-10-29T20:04:00Z By Oscar Gonzalez
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
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