The New York State Department of Financial Services (DFS) issued new guidance to help DFS-regulated entities address and combat cybersecurity risks arising from artificial intelligence (AI). “AI has improved the ability for businesses to enhance threat detection and incident response strategies, while concurrently creating new...
Nordea Bank Abp has reached a settlement with the New York State Department of Financial Services (DFS) after the regulator determined that the bank had compliance failures and failed to conduct proper due diligence of its correspondent bank partners. The bank entered into a consent order with DFS...
Insurers’ use of artificial intelligence (AI) must not discriminate against consumers, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said Thursday (July 11). Harris said this in a press release announcing the DFS’s adoption of guidance for insurers that use AI...
End-users of technologies don’t want to think — they just want to use. And out-of-the-box usability is particularly essential when it comes to next generation innovations disrupting payments and commerce. This, however, can at times be at odds with the mindset of the builders of...
April 28, 2023
In a scathing self-assessment, the Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, as regulator reports on Signature Bank’s collapse cite the lender’s “poor management.” The autopsy on failure has been released ahead of schedule. The 114-page unflinching and, at times, self-critical post-mortem review of the central bank’s […]
December 17, 2024
New York’s financial watchdog has proposed new measures governing nonbank mortgage lenders. The New York State Department of Financial Services (DFS) says this new regulation would ensure these lenders are supporting access to home loans in the communities they serve, especially in neighborhoods with low- and moderate-income residents. “Everyone deserves a fair shot at owning a home, regardless of […]
October 16, 2024
The New York State Department of Financial Services (DFS) issued new guidance to help DFS-regulated entities address and combat cybersecurity risks arising from artificial intelligence (AI). “AI has improved the...
August 27, 2024
Nordea Bank Abp has reached a settlement with the New York State Department of Financial Services (DFS) after the regulator determined that the bank had compliance failures and failed to conduct...
July 11, 2024
Insurers’ use of artificial intelligence (AI) must not discriminate against consumers, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said Thursday (July 11). Harris said this...
