NY Regulator Fines Mortgage Lender $1.5M Over Data Breach
By Jon Hill (March 3, 2021, 8:07 PM EST) -- New York's Department of Financial Services said Wednesday that an independent East Coast mortgage lender has agreed to pay a $1.5 million fine to the agency as part of a cybersecurity settlement tied to a March 2019 data breach involving an email phishing attack.
The settlement resolves the state agency's findings of cybersecurity-related violations by Residential Mortgage Services Inc., which is based in Maine but licensed in more than 20 states, including New York. The case marks the second-ever enforcement action brought under DFS' cybersecurity rules, which took full effect just days before the breach.
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