Regulatory TREND. Higher State Regulations for Credit Reporting Agencies. 8 states.

• NY rules will require credit reporting agencies to comply with the state’s Department of Financial Services cybersecurity standards
• An agreement between Equifax & 8 State Financial regulators will allow the states to:
  • impose punitive damages against Equifax
  • conduct annual  security audits 
  • develop written data protection policies and guides
  • monitor outside technology vendors
  • improve software patch management controls
• The states:
  • Alabama
  • California
  • Georgia
  • Maine
  • Massachusetts
  • New York
  • North Carolina
  • Texas

ACA International | New York Issues Cybersecurity Regulation for Credit Reporting Agencies

NY Times | 8 States Impose New Rules on Equifax After Data Breach