Cyber attacks

The widespread nature of the threat (most computer chips are vulnerable) and the reality that banks are always juicy targets mean bank officials must take a series of protective actions as soon as possible.

With so much uncertainty, the only thing that's clear is how different the sector may look a year from now. Here's an overview of the leading trends in technology that will impact payments and banking in 2018.

With so much uncertainty, the only thing that's clear is how different the sector may look a year from now. Here's an overview of the leading trends in technology that will impact banking in 2018.

Seven trade associations — including those representing banks and credit unions — sent a joint letter to Congress outlining data security standards for entities that handle financial data.

The economy is ripe for another downturn in the months or years to come, and banks shouldn’t be lulled into a false sense of security.

A Russian cybersecurity software company reported last week that a new group of cybercriminals had stolen $10 million from 16 community banks. But there's no hard evidence that actually happened.

In a rare show of public support for a security technology, the banks are leading a $40 million funding round for Menlo Security, provider of browser technology that keeps malware at bay — and they’re using it, too.

Tether's $31 million hack gave bitcoin skeptics plenty to crow about. But experts say bad security is to blame, not digital assets.

The Office of Financial Research warned that a cyberattack could "disrupt the operations of one or more financial companies and markets and spread through financial networks and operational connections to the entire system."

The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.