Consumer Financial Services Law Monitor

Monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues

Key point: All businesses struggle with cybersecurity risks presented by their service providers. New guidance from the NY DFS applies to all DFS regulated entities, but the guidance would assist any business in any industry in addressing these risks.

On October 21, 2025, the New York Department of Financial Services (the “DFS”) issued important guidance