Cybersecurity Considerations After NY Lender's Data Breach

Law360 (March 30, 2021, 2:14 PM EDT) -- On March 3, the New York Department of Financial Services announced its execution of a consent order[1] with Residential Mortgage Services Inc., a DFS-licensed mortgage banker and mortgage loan servicer, that fines RMS $1.5 million for its violations of Cybersecurity Regulation, Part 500 of Title 23 of the New York Codes, Rules and Regulations.

According to the order, RMS failed to meet its Part 500 obligations by inadequately responding to a cybersecurity event[2] and neglecting to have conducted a comprehensive cybersecurity risk assessment.

The order is the latest demonstration of the seriousness with which the DFS is approaching enforcement of Part...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!