Data security

Bank makes errors in refund program; credit bureau now says tax IDs, email addresses and driver’s license were compromised in last year’s hack.

Identifying threats to a single bank or the financial system as a whole can be tricky, but there are steps bankers can take to protect themselves.

In many ways, the goal of the GDPR is to increase difficulty for a hacker, while also flipping the rights of data ownership back to the European consumer. U.S. companies that serve European consumers are obligated to follow the regulations.

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus.

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware.

In recent weeks three surveys have been released that assess the U.S. fraud landscape across all of these audiences. These reports provide a holistic snapshot of where payments fraud in the U.S. is today.

Shares drop nearly twice as much as other bank stocks and the broader market; agency denies it’s looking to end the investigation into last year’s data breach.

It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.

Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.

Sometimes an idea is ahead of its time. Many of the most ambitious products in fintech were dismissed as absurd or overambitious at the time — only to feel perfectly normal years later as culture and consumer habits evolved.

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.

As interest rates go up, volume expected to drop to its lowest level since 2000; thieves can make cash machines release money “like winning slot machines.”

The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better.

Sometimes an idea is ahead of its time. Many of the most ambitious products in payments and fintech were dismissed as absurd or over-ambitious at the time — only to feel perfectly normal years later as culture and consumer habits evolved.

Tender Armor, which offers a fraud-prevention tool that requires consumers to enter a special code for each online purchase, has attracted private equity funding to expand its development three years after the company’s inception.

Organizations handling payments or personal data are increasingly moving to cloud-based technology, and cyber criminals are taking advantage of that transition in finding new attack vectors.

Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.

Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney has cited hundreds of confirmed and suspected data breaches as justification for his halting the bureau's data collection activities last month.

Trust is probably the most critical attribute of any organization that deals with a person's financial well-being. However, trust is easily lost.