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Category Archives: State Regulators

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NY DFS Signals a Detailed Framework for Cybersecurity Compliance

Posted in Privacy, Regulatory Developments, State Regulators

On November 9, 2015, the New York State Department of Financial Services (“DFS”) sent a letter to a number of state and federal financial regulators signaling that DFS may issue comprehensive cybersecurity regulations for financial institutions subject to DFS’s authority. The stated purpose of the letter was to “spark additional dialogue, collaboration and, ultimately, regulatory… Read More

The NYDFS Finalizes its BitLicense Proposal

Posted in Electronic Payments, State Regulators

On June 3, 2015, the New York Department of Financial Services (NYDFS) issued a final rule regarding its “BitLicense” regulatory regime (“Final Rule”).  The Final Rule follows an initial proposal from July 2014 and a revised proposal from February 2015 (“Revised Proposal”). At a high level, the Final Rule requires licensing for any person that… Read More

CFPB Intends to Regulate Payday Lenders

Posted in CFPB, Payday Lending, Regulatory Developments, State Regulators

According to a report in The New York Times’ Dealbook, the payday lending regulations the Consumer Financial Protection Bureau is drafting would govern a broader range of short-term loans than some may like, with car title loans and installment loans falling under the guidelines, and would create measures aimed at curbing what the Bureau has… Read More