The New York Department of Financial Services announced last week that it will revise and delay the effective date of its proposed cybersecurity regulation. The announcement came two days after New York bankers brought up a number of criticisms of the proposed rules at a hearing before the state’s Standing Committee on Banks.
At the hearing, bankers lamented that the proposed regulation will prove too burdensome to implement, particularly for small community banks.
Continue Reading Bank Objections Play Key Role in Delay of New York Cybersecurity Regulation