Compliance

It seems we cannot go a week without news of a malware attack of some kind, be it ransomware, stolen credit card information or other security breaches. The increasing trend is that not only are organizations and enterprises affected, but also regular consumers.

Reports from the big three credit bureaus do not include information about payday loans, but a CFPB proposal figures to shake up that arms-length relationship.

The feature allows users to request cryptographic signatures by more than one user – a device or institution – to validate a transaction. The idea is that bad or malicious actors would have to breach multiple machines to transact on one user's behalf, Ripple said in a blog post.

Senate Banking Committee member tells Washington Post he has taken himself out of the running for GOP vice presidential candidate.

Installment lenders are concerned that efforts by the Consumer Financial Protection Bureau to curb the most abusive and predatory practices associated with payday loans will wreak havoc on their business.

When surveyed, consumers will say security is far more important than convenience when making a payment — until they reach the checkout. Then convenience feels pretty good.

Critics of the Consumer Financial Protection Bureau think there's renewed chance to change the regulator's structure. They point to the upcoming presidential election and recent setbacks to CFPB Director Richard Cordray as laying groundwork for a change.

Banks have mainly shied away from programs that invite hackers to scrutinize their applications. But PayPal, Western Union and others who have tried them say bug bounty programs are an effective way of making apps more secure.

Chief information security officers at banks say their top priority is keeping data of all kinds (customer, employee, credit, performance, you name it) safe from attacks. They answered candidly when we asked who or what the greatest risks are.

PayPal, Western Union and others who have paid hackers to scrutinize their applications say bug bounty programs are an effective way of making apps more secure.