North Dakota Enhances Data Security Requirements for Financial Institutions

On April 11, North Dakota enacted HB 1127, revising its regulatory framework for financial institutions and non-bank financial service providers. This law amends several chapters of the North Dakota Century Code and establishes a new data security obligation for financial companies, including regulated non-depository entities. The article is authored by A.J. S. Dhaliwal, Mehul N. Madia, and Beineng Zhang of SheppardMullin.