Compliance

Senator Patrick Leahy pledged to pursue cybersecurity legislation in the wake of a massive data breach at retail giant Target.

WASHINGTON -- By assessing nearly $100 million in fines and restitution against Ally Financial on Friday, regulators sent a warning shot to all indirect auto lenders that they will be severely penalized if partnering dealerships charge higher interest rates or fees to minorities.

WASHINGTON -- A recent advisory from the Consumer Financial Protection Bureau continues to muddy the waters for credit unions trying to decipher seemingly conflicting messages from the bureau regarding its Qualified Mortgage (QM) rule that goes into effect in January.

JPMorgan Chase and other banks are restricting debit card use by consumers potentially exposed to the retailer's recent data breach, according to reports.

The Armory Bitcoin Wallet, a security and payments application, has changed its technology to require less computer memory – but it's still a product for power users

For banks, the most obvious reaction to the recent compromise of 40 million cards at Target stores would be to re-issue credit and debit cards to all customers who shopped at the retailer. But this approach doesn't seem to be universal.

Target Corp. was sued by a Christmas shopper claiming she may have been exposed to identity theft from a data breach affecting 40 million debit and credit cards.

If Target can't protect itself from a data breach, how can any retailer hope to do so?

WASHINGTON -- Federal financial regulators have extended the comment period on their proposed policies for assessing financial institutions' diversity policies and practices.

Target has confirmed the compromise of the credit and debit card data of 40 million Target shoppers and says the problem has been identified and resolved. However, thieves are selling the card account information as fast as they can on underground sites, according to security blogger and expert Brian Krebs.