Compliance

Payment companies and merchants are taking the wrong approach to cybersecurity if they address problems only after they arise.

The White House rolled out several more cybersecurity provisions on Tuesday, including a proposal to better coordinate information sharing between the government and the private sector around cyberattacks and emerging threats.

The Consumer Financial Protection Bureau is launching a toolkit on Tuesday that will help consumers shop for a mortgage by finding the best rates in their area based on data the agency gathers from lenders.

Banks can be compliant with cybersecurity guidelines and still remain vulnerable to massive liabilities. One case in point: many financial institutions carry mandatory insurance policies that could leave them on the hook for six-figure losses from corporate account takeovers.

The Consumer Financial Protection Bureau is launching a toolkit on Tuesday that will help consumers shop for a mortgage by finding the best rates in their area based on data the agency gathers from lenders.

While many agree that usernames and passwords should give way to more advanced identity management, progress toward this goal has been extremely slow.

A new push by President Obama to tighten cybersecurity at banks and other businesses could help light a fire under some firms that have historically been slower to react in the wake of a data breach and help financial institutions dealing with a tangle of confusing state laws.

Stage Stores, a department store chain based in in Houston, has beefed up its payment security with technology from Chase Paymentech and Ingenico.

Customers affected by cyberattacks frequently direct their wrath at financial institutions, whether or not a bank is responsible for the breach. Therefore banks need to have a strategic communications strategy in place.

On the heels of the recent barrage of payment card theft, banks are scrambling to roll out EMV based solutions, but is it enough?