Data security

PayPal wants to integrate TIO's bill payment customers into PayPal's network, but a data breach has that goal on hold.

Describing cybersecurity as the biggest risk facing the financial sector, Vice Chairman for Supervision Randal Quarles said regulators should more actively facilitate conversations between banks and national security agencies to boost digital security.

Google was sued by a group of U.K. consumers over claims that the company improperly collected personal data from millions of users of Apple Inc.’s iPhone.

Uber Technologies Inc. said information from 2.7 million U.K. customers was taken in a 2016 security breach that hit 57 million riders and drivers globally and that the company kept secret from the public and authorities until recently.

With the holiday shopping season, there is an inevitable dark side — an increase in transactions means an increase in fraud. This is to some extent the cost of doing business; fraud will always be a percentage of overall transaction volume.

The CFPB's data-sharing guidance was widely applauded, but mistrust remains between banks and aggregators. Advocates want regulators to take action.

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.

One estimate says 3.5 million cybersecurity jobs will go unfilled by 2021. Banks are looking to military veterans, universities and even high schools to help fill the gap.

Uber’s announcement that it had been hacked in 2016 — resulting in the exposure of 57 million accounts — was shocking. The breach itself did not include payment information, but does that really matter from the consumer's perspective?

Hackers stole the personal data of 57 million customers and drivers from Uber Technologies, a massive breach that the company concealed for more than a year.