Data security

The five-part framework suggests both technical and governance solutions to protect consumers from losing money to scammers and fraudsters.

Small and midsized banks fail to implement key oversight measures on their third-party vendors, something regulators implore they fix, according to research released Tuesday.

The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.

This month's roundup features news about the rising concerns of Zelle fraud, JPMorgan Chase's AI arms race with Capital One and more.

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

The Bank Policy Institute is among the parties that filed a lawsuit late Tuesday to challenge the Consumer Financial Protection Bureau's new open banking rule.

A ban on screen scraping and new disclosures to consumers about data usage are among the new elements of the data protection rule.

JPMorgan Chase and bank trade groups criticized the Consumer Financial Protection Bureau's open banking rule for not providing enough data security.

A whitepaper from FS-ISAC, a financial services industry group focused on cybersecurity, advocates that banks develop so-called "cryptographic agility."

The guidance from Adrienne Harris clarifies how a key cybersecurity regulation — Part 500 — applies to the risks and uses of AI inside banks, including risks associated with deepfakes.

The investing platform disclosed a data breach this week, offering few details on the impact or how customer accounts could cause such damage.

A debt collection agency that provided services to Truist suffered a data breach in February affecting 4.2 million people. Truist now says some of those were its customers.

As regulators and Congress push for stronger consumer protections as losses mount, payment experts say there are steps companies should be taking now to respond.

The Visa Tokenized Asset Platform will allow banks to "mint, burn and transfer" tokens as more financial institutions and businesses express interest in how cryptocurrencies and blockchain technology can improve their operations.

Password requirements are often needlessly complex, according to the standards-setting body, which has proposed rules for government agencies.

House Republicans grilled a company exec about its widespread outage, but some, including Mark Green, R-Tenn., thanked the company for its response.

Ally customers are blaming the bank for data breaches at its vendors, arguing that basic cybersecurity measures would have prevented the thefts.

St. Mary's Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today's cybersecurity and fraud concerns.

Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactive about avoiding them.