Banking on Chaos: Financial Giants Slam CISA’s Cyber Reporting Rules
Financial organizations are urging CISA to reissue CIRCIA’s proposed implementation, claiming it creates more chaos than calm. They argue that the rule demands more paperwork than a tax audit, diverting resources from cyber defense to bureaucracy. CISA’s proposed rules might need a reboot before their October 2025 launch!
Hot Take:
When the financial bigwigs start writing open letters, you know there’s more at stake than just a paper cut. CISA may have bitten off more than it can chew with CIRCIA, and now the banks are saying, “Hold up—let’s not throw the baby out with the bathwater.” Will CISA listen? Or will we witness a showdown of epic proportions where the pen is mightier than the cybersecurity sword? Stay tuned for the next thrilling episode of “Bankers vs. Bureaucrats!”
Key Points:
- Financial organizations are requesting changes to the CIRCIA implementation proposed by CISA.
- CIRCIA mandates reporting of major cyber incidents within 72 hours and ransomware payments within 24 hours.
- The proposed rules are set to impact approximately 316,000 entities starting October 2025.
- Financial groups argue the rules divert resources from incident response and recovery.
- The letter calls for collaboration to revise the rules before the statutory deadline.