Compliance

A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.

Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."

The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.

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.

Proposed legislation to force Bytedance to sell its U.S. operations of TikTok raises national security concerns and potential retaliation from Beijing.

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

Bank of America, Citi and Navy Federal are among banks and credit unions to recently manage through unforeseen challenges.

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

In this month's roundup of top tech news: Bank of America's data breach affects more than 57,000 consumers, banking as a service's looming reckoning, the downfall of Heartland Tri-State Bank and more.

A consortium of banks focused on cybersecurity has published a series of white papers aimed at navigating the challenges and opportunities of AI in the financial sector.