Several amendments from NYDFS’s cybersecurity regulations on financial services will go into effect on November 1. As previously covered by InfoBytes, in June 2023, NYDFS published an updated amendment to 23 NYCRR 500 imposing cybersecurity regulations. These new rules mandate multi-factor authentication for all individuals accessing information systems, including remote access to third-party applications and privileged accounts, unless the entity qualifies for a limited exemption. Additionally, annual cybersecurity training must now cover social engineering tactics, such as phishing and AI-enhanced techniques like deepfakes.
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The CFPB has banned private dispute resolution platform Ejudicate from arbitrating disputes about consumer financial products, saying that the company had misled student borrowers about the company’s neutrality and initiated sham arbitration proceedings.
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MADISON, Wis. -- As hurricane recovery efforts continue throughout the Southeast, State is supporting those providing direct assistance. The company has donated $10,000 to organizations assisting those in North Carolina and Florida, as well as a fund providing cash assistance to those impacted who work in the receivables management/revenue cycle industry. Many of their team members also have made contributions.
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