Investment

A breach that compromises personal data of more than 100 million people is never good, but the company did follow some security best practices.

While traditional payment processors conquered bitcoin in the first battle, the disruptive potential of blockchain technology remains a potent threat and incumbent payment processors should prepare for a healthy new challenge.

In what's being called "one of the largest-ever data breaches of a large bank," Capital One said a Seattle hacker gained access to the personal information of more than 100 million customers; Citigroup plans to cut hundreds of jobs in its global markets division and combine its equity trading and prime brokerage units.

Capital One Financial lost data from as many as tens of millions of credit card applications after a Seattle woman hacked into a cloud-computing company server, federal prosecutors in Seattle said.

Consumers are looking forward to $125 settlement checks from Equifax Inc. stemming from a data breach two years ago. Hackers, however, are using the claims as another opportunity to steal their personal information.

OFX is used by 7,000 banks while FDX is used by 2 million consumers. The two standards are converging.

“Digital Vault” will allow customers to store encrypted documents on third-party servers; bank accuses Orcel of misdeeds.

The San Antonio bank has had little trouble hiring retail bankers to staff its new Houston branches, but it’s having a harder time filling IT and cybersecurity jobs at its headquarters, said CEO Phil Green.

The bill, similar to legislation that passed the chamber last year, would permit the inclusion of items such as rent and telecom payments to help consumers build their credit profiles.

Maria Vullo served for three years as New York's top banking regulator.