On November 1, 2023, the New York Department of Financial Services (NYDFS) published the finalized Second Amendment to its Cybersecurity Regulation (23 NYCRR Part 500), which includes a number of significant and, for many covered entities, onerous … [Continue reading] about NYDFS Finalizes Second Amendment to Its Cybersecurity Regulation
HUD Seeks Comment on Proposed Notice to Change HECM for Purchase Program to Expand Funding Sources and Interested Party Contributions
A&B Abstract: On October 24, 2023, the U.S. Department of Housing and Urban Development (“HUD”) published, for public comment, a Federal Register Notice (“Proposed Notice”) to implement changes to the Federal housing Administration’s (“FHA”) … [Continue reading] about HUD Seeks Comment on Proposed Notice to Change HECM for Purchase Program to Expand Funding Sources and Interested Party Contributions
Majority of States Now Permit Remote Work for MLOs and Mortgage Company Employees
A&B Abstract: On June 9, Illinois became the latest state in a growing trend to authorize remote work for mortgage loan originators and mortgage company employees. This makes five states joining the list of jurisdictions legislatively … [Continue reading] about Majority of States Now Permit Remote Work for MLOs and Mortgage Company Employees
FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions
On October 27, 2023, the FTC approved an amendment to the Safeguards Rule (the “Amendment”) requiring that non-banking financial institutions notify the FTC in the event of a defined “Notification Event” where customer information of 500 or more … [Continue reading] about FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions
Affirmative Action in Lending: The Implications of the Harvard Decision on Financial Institutions
Early this summer, the U.S. Supreme Court’s ruling in Students for Fair Admissions v. President and Fellow of Harvard College effectively ended race-conscious admission programs at colleges and universities across the country. Specifically, the … [Continue reading] about Affirmative Action in Lending: The Implications of the Harvard Decision on Financial Institutions