Investment

As management teams meet to set their priorities, there is a range of issues, including consolidation, cybersecurity and succession planning, that will likely come up.

The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement.

Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.

The ongoing availability of stolen account information used to perpetrate vishing and phishing was exacerbated by the Capital One data breach disclosed this week, affecting 100 million accounts, and is likely to increase fraud threats.

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.