Cyber attacks

Mr. Cooper will be filing a motion to dismiss a data breach-related class action by Sept.13, documents show.

Vice Chair for Supervision Michael Barr says generative AI could present financial-stability risks if certain models are used ubiquitously.

Loandepot and Mr. Cooper said they've spent tens of millions of dollars this year following recent, major hacks.

The attack knocked out online banking, mobile banking and the call center at Patelco Credit Union.

In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.

The attack is one of three major incidents the lender has suffered in the past three years.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.  

The roundup of top banking tech news for 2023: Ally Bank's path into the world of generative artificial intelligence, JPMorgan Chase's fallout from its deal with the college financial-planning website, banks across the U.S. increasingly fell victim to cyber attacks and more.

The credit card company is creating avenues for their staff, veterans and talent outside their organization looking to upskill.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.