ORLANDO - (11/15/05) -- Identity Theft 911, which has beenmarketing its identity theft prevention and resolution system tocredit unions, unveiled a new system to allow credit union andother financial institutions to immediately notify customers whentheir database has been compromised. The new system, SBR911, wasintroduced Monday at the annual BAI Retail Delivery Conference. TheSBR911 programs will enable financial institutions to assess adatabase breach and manage a response, including regulatory andconsumer notifications, helping to minimize potential losses andliability. It will also help financial institutions to communicateproactively with their customers to defuse public concerns.Introduction of the new warning system comes as Congress isproposing to require all financial institutions to notify customersof data breaches.
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The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.
May 8 -
Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.
May 8 -
Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.
May 8 -
Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.
May 8 -
Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.
May 8 -
The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.
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