The New York Department of Financial Services ruled Equifax, Experian and TransUnion must comply with the NYDFS cybersecurity rules by Nov. 1, Bloomberg Law reports. Cadwalader Wickersham & Taft Senior White Collar Defense and Investigations Associate Keith Gerver said the decision to move the credit-monitoring firms under the cybersecurity rules likely stems from Equifax’s 2017 data breach, "which was roundly criticized both for being hacked and for its public disclosure and consumer notification efforts after the fact." Experian and TransUnion both said in statements they are in compliance with the NYDFS regulations. Equifax did not respond for comment.
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