The New York State Department of Financial Services (DFS) has recently issued a new regulation concerning Credit Reporting Agencies (CRA) with operations in New York, in response to the substantial data breach involving Equifax in 2017. This newly effective CRA regulation, called the “Registration Requirements and Prohibited Practices for Credit Reporting Agencies,” aims to protect New Yorkers from the possibility of data breaches by requiring credit reporting agencies to comply with the NYS DFS 500 Cybersecurity Regulations and to register with the DFS annually.
This announcement was made by NYS DFS Monday, July 23rd and will be implemented in 4 phases, the first one beginning in November. Digital Edge wants to inform all credit reporting agencies of this new requirement and offer our knowledge on DFS500 regulations. Learn more about this new regulation by reading the full article!
Digital Edge is an expert in ISO standards, and is certified by the International Standard Organization on Information Security and Quality (ISO 27001). There is a clear crosswalk between DFS law and ISO standards. Digital Edge will help to implement policies, standards and practices to cover all DFS requirements based on International Standards Organization framework.