From: American Banker
WASHINGTON – Bankers already scrambling to comply with a number of different federal cybersecurity standards are raising concerns about a proposal from New York to layer on some additional state rules.
The plan by the New York State Department of Financial Services, published last month, would require all financial institutions chartered in New York to follow a number of baseline measures, from appointing a chief information security officer to encrypting all nonpublic information and requiring multifactor authentication from nearly all employees or customers.
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