Investment

One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the banks that use it.

It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry, a warning that it needs to end its reliance on static personal identifiers.

Equifax Inc., one of the three biggest credit-reporting companies, was struck by a cyberattack that left almost half the U.S. population at risk, placing it among the most intrusive security breaches in history. The stock fell the most in almost two decades.

Credit bureau says records of 143 million consumers were compromised; state agency penalizes Habib Bank for enabling terror financing.

Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers in what could be one of the largest data intrusions.

It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.

The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks.

The creators of Dash, a bitcoin rival whose price has increased nearly 3,400% in 2017, plan to entice thousands of white-hat hackers to inspect the project’s code for flaws.

China's Metaverse Foundation collaborated with Russian crypto investment bank CyberTrust to create the Cryptocurrency Fund to support ICO projects from China and Russia through KICKICO's crypto crowdfunding platform.

The first compliance deadline fell last week for the state’s strict new regulation. Banks are struggling with certain elements, such as multifactor authentication.