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Cuomo administration proposes new credit reporting regulations

Sep 19, 2017 6:00 am

Matthew Hamilton is reporting in the Times Union Gov. Andrew Cuomo's administration on Mon., Sep. 18, proposed a new credit reporting regulation in the wake of the recent Equifax security breach. The new state Department of Financial Services rule would require credit reporting agencies to register with the state by February 1, and re-register on an annual basis after that. The regulations mandate that any institution regulated by the department have a cybersecurity program designed to protect consumers' private data, a chief information security officer and other controls to ensure the safety of the finance industry. In the recent Equifax breach hackers gained access to the sensitive personal information of approximately 143 million American consumers, according to the Federal Trade Commission. Read the full story in the Times Union.