State has new regulations for credit reporting agencies

Jun 25, 2018
Originally published on June 25, 2018 5:18 am

ALBANY, N.Y. (AP) — New York regulators are requiring credit reporting agencies to register with the state in the wake of last year's Equifax security breach that exposed the personal information of about 148 million Americans.

Gov. Andrew Cuomo announced Monday that the state Department of Financial Services has issued new regulations aimed at protecting the private data of millions of New Yorkers. The Democrat says state financial services regulators now have oversight for the first time over credit reporting agencies operating in New York.

Cuomo says in addition to registering with the state, credit reporting firms will have to comply with the state's cybersecurity standard.

Last September Atlanta-based Equifax's computers were hacked, exposing personal information such as Social Security numbers for 147.9 million Americans, including about 8 million New Yorkers.