Anthony Albanese, the head of the New York Department of Financial Services, issued a letter to more than 20 federal and state regulators outlining proposed cybersecurity regulations for banks and insurance companies operating in New York. While the letter is a request for comment from fellow regulators, it represents a preview of several cybersecurity measures that may soon be required of the financial industry. These measures focus on guaranteeing that banks and insurers establish and maintain a formal cybersecurity program, and hold third-party vendors accountable to following similar cybersecurity practices. Specifically, the letter asks for comment on eight proposed regulatory requirements:
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