Tag Archives: NYDFS Reg 500

NYC Creates BIPA-Like Requirements for Retail, Hospitality Businesses Concerning Biometric Information Collected From Customers

Effective July 9, 2021, certain retail and hospitality businesses that collect and use “biometric identifier information” from customers will need to post conspicuous notices near all customer entrances to their facilities.  These businesses will also be barred from selling, leasing, trading, sharing or otherwise profiting from the biometric identifier information they collect from customers.  Customers … Continue Reading

NYDFS Files First Enforcement Action Under Reg 500

On July 21, 2020, the New York Department of Financial Services (“DFS”) filed its first enforcement action under New York’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R. Part 500 (“Reg 500”).    Reg 500, which took effect in March 2017, imposes wide-ranging and rigorous requirements on subject organizations and their service providers, which are summarized … Continue Reading
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