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NYDFS announces cybersecurity settlement with mortgage servicer
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Cybersecurity, Regulatory Updates
Wednesday, May 31, 2023
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New York Department of Financial Services Superintendent Adrienne Harris announced OneMain Financial Group LLC will pay a $4.25 million penalty to New York state for violations of the department’s cybersecurity regulation. OneMain failed to effectively manage third-party service provider risk, manage access privileges, and maintain a formal application security development methodology, significantly increasing the company’s vulnerability to cybersecurity events.
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