New York state has penalized two auto insurance giants for failing to secure customer data. Geico and Travelers will pay a combined $11.3 million in penalties “for having poor data security,” which allowed more than 120,000 New Yorkers’ information to be compromised, the New York...
Stablecoin issuer Paxos has laid off 65 people, amounting to about 20% of its workforce. These cuts come at a time when the company is working to launch and scale new regulated tokens, Bloomberg reported Wednesday (June 12), citing an email sent to Paxos employees...
New York Department of Financial Services (NYDFS) Superintendent Adrienne A. Harris has hailed a Thursday (Dec. 7) court decision that upholds the state’s new check cashing regulation announced in January. “Today’s decision is a win for New Yorkers who depend on check cashers to access their money,” Harris said in...
New York State’s financial watchdog has updated its rules for listing/delisting virtual currency. The New York State Department of Financial Services (NYDFS) on Wednesday (Nov. 15) issued guidance that enhances requirements for listing and listing virtual currencies regulated by the department. According to a department news...
December 26, 2024
New York is reportedly tightening its financial scrutiny as Donald Trump returns to office. With the incoming President Trump planning to roll back financial regulations, the Department of Financial Services will place more scrutiny on banks, insurers and cryptocurrency companies doing business in New York, the Financial Times (FT) reported Tuesday (Dec. 24). Adrienne Harris, […]
November 25, 2024
New York state has penalized two auto insurance giants for failing to secure customer data. Geico and Travelers will pay a combined $11.3 million in penalties “for having poor data...
June 12, 2024
Stablecoin issuer Paxos has laid off 65 people, amounting to about 20% of its workforce. These cuts come at a time when the company is working to launch and scale...
December 07, 2023
New York Department of Financial Services (NYDFS) Superintendent Adrienne A. Harris has hailed a Thursday (Dec. 7) court decision that upholds the state’s new check cashing regulation announced in January. “Today’s decision is a win...
