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

The Problem: As we recommended in our current Commentary, federal banking regulators have proposed procedures demanding a banking corporation to deliver its major federal regulator with prompt notification of any “personal computer-protection incident” that materially disrupts, degrades, or impairs selected important enterprise operations. This proposal provides a different reporting necessity for banking corporations. But it might also impact fintechs….
By: Jones Working day