Non-Banking Financial Institutions to Report Data Security Breaches - Gramm-Leach-Bliley Act (GLBA)

The Federal Trade Commission (FTC) has approved an amendment to the Safeguards Rule that would require non-banking institutions to report certain data breaches and other security events to the agency. GLBA ensures the protection of consumers’ personal financial information. The Amendment will require non-bank financial institutions to report when they discover that information affecting 500 or more people has been acquired without authorization.

For more information please go to the Press Release on the FTC Website. Effective date is May 13, 2024.

Mortgage Loan Originators

Mortgage Broker-Lenders may require Mortgage Loan Originators (MLOs) to work from home to help prevent the spread of the COVID-19. The Division recognizes that these remote work arrangements are necessary during a state of emergency and will not take administrative or other punitive action against a licensed MLO or the sponsoring licensed company if the MLO conducts activities requiring licensure from home.