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Maryland reaches multistate $20 million settlement with mortgage servicing company over data breach

Posted on by Chris Montcalmo

BALTIMORE, MD—Bayview Asset Management, LLC, a mortgage company, and three of its affiliates have agreed to a $20 million settlement with 53 state regulators following a 2021 data breach that affected 5.8 million customers nationwide, including 124,000 in Maryland. The settlement, announced by the Maryland Department of Labor’s Office of Financial Regulation, addresses deficient cybersecurity practices and compliance failures by […]

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Cybersecurity

Maryland bolsters cybersecurity with new monitoring service

Posted on by Chris Montcalmo

BALTIMORE, MD—The Maryland Department of Labor’s Office of Financial Regulation on Wednesday announced the implementation of SecurityScorecard, a cybersecurity monitoring service, to bolster its supervision of Maryland financial institutions. This move underscores the Office’s commitment to consumer protection in the face of evolving cyberthreats. SecurityScorecard will provide continuous, real-time monitoring of cybersecurity risks for state-regulated banks, credit unions, and other […]

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