The Board of Governors of the Federal Reserve System is seeking public comments on a proposal to extend the Computer-Security Incident Notification requirements for three more years without any changes. This rule mandates banking organizations to promptly notify their primary Federal banking regulator of any significant computer-security incidents within 36 hours. The Federal Reserve Board invites feedback on various aspects of the information collection, including its necessity, accuracy, and ways to reduce the burden on respondents. Comments can be submitted until February 4, 2025.
Simple Explanation
The Federal Reserve Board wants feedback on a plan to keep a rule for banks that says they have to quickly tell them about any big computer problems. People can share their thoughts and concerns about this rule until February 2025.