WATERBURY, Vt. – State officials reported yesterday that a database containing Social Security numbers and account information for 70,000 people–most of them members of New England FCU–was hacked, exposing the individuals to potential fraud on their credit cards or accounts. The state’s largest credit union provided information for 58,800 of its members to Vermont’s Department of Human Services for the purpose of helping collect child support debt. The breach comes a few weeks after national retailer TX Maxx disclosed that its database had been hacked into and exposed hundreds of thousands of cards accounts at dozens of credit unions and banks to potential fraud. It also the thrid time in a month that Vermont officials have conceded a breach in their data security at a state agency. Officials of the $500 million Williston-based credit union said they will do everything they can to protect the affected accounts.
-
A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.
7h ago -
The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.
7h ago -
The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.
8h ago -
Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.
10h ago -
American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.
11h ago -
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
11h ago










