Albert Gonzalez of Miami Tuesday pleaded guilty to federal charges he conspired to hack into computer networks supporting major U.S. retail and financial organizations and to steal information pertaining to tens of millions of credit and debit cards. He additionally pleaded guilty in September to charges related to the 2007 data breach at TJX Cos. Inc. and pleaded guilty earlier this month to charges he breached the payment networks of Heartland Payment Systems Inc., Hannaford Bros. Co., 7-Eleven Inc. and two unnamed retailers (see story). http://www.paymentssource.com/news/hacker-pleads-guilty-heartland-hannaford-breaches-2711721-1.html This week, Gonzalez pleaded guilty in federal court in Boston before U.S. District Judge Douglas P. Woodlock to two counts of conspiracy to gain unauthorized access to payment card networks operated by Heartland Payment Systems Inc., 7-Eleven Inc. and Hannaford Bros. Co., among others. He leased or otherwise controlled several servers and gave access to them to other hackers, knowing they would use them to store malicious software and launch attacks, according to the plea agreement. Using the malicious software, it is feasible Gonzalez and his coconspirators would steal tens of million of credit and debit card numbers, affecting more than 250 financial institutions, according to the plea agreement. The government indicted Gonzalez in August in New Jersey for his criminal conduct and transferred the New Jersey case to the District of Massachusetts for plea and sentencing as part of the plea agreement with the government. Under the terms of the agreement, Gonzalez will not seek a prison term less than 17 years, and the government will not seek a term of more than 25 years. Gonzalez remains in custody.
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The Federal Reserve governor's term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank's board.
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Direct-to-consumer earned wage access provider EarnIn is rolling out Live Pay, a service that "streams" consumers' paychecks via a Visa card. It's a model banks could replicate.
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Deal for Clay County Savings Bank leaves Verimore Bank primed to add market share in a fast-growing Kansas City neighborhood
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Columbus-based Northwest Bancshares finalized its acquisition of Penns Woods Bancorp; Barclays becomes the second U.K.-based bank to leave the Zero Banking Alliance; BankUnited announces the appointment of Michael Mitchell as executive vice president, director of branch banking; and more in this week's banking news roundup.
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First Foundation is in transformation mode, after a capital infusion and new management gave it some power to remix its challenged balance sheet. But the bank just took its third quarterly loss out of the last four quarters.
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The Cleveland bank is working with Personetics to provide advice and help to digital banking customers that takes into account their circumstances, current transactions and history.
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