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Bloomberg News
Honeypot: The names, email addresses, phone numbers, dates of birth, hashed passwords and, in some cases, security questions and answers of 500 million Yahoo users — some large percentage of them bank customers — were stolen in late 2014.
Yahoo says no bank account or card data has been compromised in its massive data breach. Yet hackers could use their ill-gotten personal information about customers to mess with bank accounts.

Top Stories

The Federal Reserve Board made good Friday on a pledge to target big banks' investments in physical commodities like gas pipelines and precious metals, unveiling a proposal that would raise capital requirements for such holdings while stopping short of an outright ban.  more »
As the U.S. prepares to face the results of an evaluation by the Financial Action Task Force for its anti-money-laundering and terrorist financing efforts, there are signs that it might receive a bad grade.  more »
Despite several attempts over the past two weeks, Wells Fargo has been unable to quell the furor surrounding revelations that thousands of employees opened millions of phony accounts. Here's why.  read more »
An independent chairman could uncover or minimize damage from fraud while also meting out punishment more impartially after the fact. The longtime corporate governance argument has new legs in light of the account scam at Wells Fargo, whose board is led by CEO John Stumpf.  read more »
FinTech Forward
Why Brexit Is Bad News for Fintech in London
The surprise vote by the U.K. in June to leave the European Union may encourage fintech firms in London to expand across the pond. That was the case with Duco, a financial data management company, which recently added senior managers in New York. "Hiring talent in London was already hard on the tech side, and we think it's going to get even harder" says CEO Christian Nentwich.

Duco was selected last year to participate in Accenture's Fintech Innovation Lab in London.  read more »

JPMorgan Chase is shifting its IT organization to private and public cloud computing. The motivation is not just saving money — on the contrary, CIO Dana Deasy vows the IT budget will not shrink. Rather, the main goals are saving developers' time, redirecting resources away from basic infrastructure and toward innovation and working with fintech startups.  read more »
Bankers generally expect loan demand to increase over the next year, but global shocks, domestic politics and regional economic variations may be prompting them to prepare for slightly slower growth than before.  read more »
John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming scandal, but his harsh questioning by lawmakers — and his struggle to answer many of their questions — suggests that the embattled megabank's problems are just beginning.  read more »
Familiar names — and more than a dozen newbies — can be found in our annual ranking of the nation’s most employee-friendly banks. Find out who earned a spot on the list and why these 60 banks are so successful at keeping their employees happy and engaged.  read more »
Will Tech Advances Hurt the Underbanked?
It's long been assumed that technology will help the financially underserved access the banking services they need. Christine Duhaime, founder of the Digital Financial Institute, a fintech think-tank, says this assumption is wrong.
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