U.S. banking regulators propose requiring banks to immediately flag computer breaches
Reuters
Published Dec 18, 2020 10:06AM ET
WASHINGTON (Reuters) - U.S. banks would have no longer than 36 hours after finding a cybersecurity breach to flag the issue to their regulators, under a new rule proposed Friday.
The proposal from U.S. banking regulators would direct banks to notify their primary regulator as soon as possible after a breach is discovered that could impair services or the organization itself. In addition, the rule would direct third-party service providers to promptly tell client banks of any breaches that would impair their services.
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Written By: Reuters
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