Editor’s Note: Cybersecurity regulations that are not cost-effective will not work, see Cost-Effectiveness: The Prerequisite for Cybersecurity Regulation.
From: CyberScoop
Shaun Waternman
The largest and most interconnected global financial institutions and the companies that provide them payment services should face tighter rules on cybersecurity, the three top U.S. bank regulators said.
The proposal came Wednesday in a joint advance notice of proposed rule-making from the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.
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