News

Fintech: Proposed Banking Cyber-Incident Notification Rules Could Apply to You, Too

  • None--JD Supra
  • published date: 2021-01-20 04:19:00 UTC

The Result: Under the Bank Service Company Act ("BSCA"), a banking organization is required to disclose to their regulators all of its core service companies, but there is no requirement under the BSCA to inform the service company of the designation. Some fi…

We have already reported on the proposed rules generally. Briefly, in light of increased frequency and severity of cyberattacks, on December 18, 2020, the federal banking regulators proposed a new ru… [+2495 chars]