Led by Congressmen French Hill and Stephen F. Lynch, the council will explore how artificial intelligence is influencing the development of new products and services, fraud prevention and other areas across the financial services and housing industries.

SEC Chairman Gary Gensler clarified Tuesday that a post on X from the official SEC account that the commission had approved bitcoin ETFs was the result of a hack. X said the SEC did not have multifactor authentication enabled on its account.

Many of the attack vectors, including ransomware and phishing, will likely continue to plague the industry through 2024.

Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.

Brighton Bank entered a consent agreement with the regulator regarding violations of anti-money-laundering laws.

Here is a highlight of 10 great American Banker Magazine features from the year. Topics range from redlining to the Most Influential Women in Fintech.

A federal judge has issued a temporary restraining order against websites created by Storm-1152. That organization allegedly supplies fake Microsoft accounts to groups like Scattered Spider, whose targets include financial companies.

An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.

The deadline for compliance with the Securities and Exchange Commission's new cyber disclosure regulations is coming. Banks need to be ready.

A third-party provider for credit unions failed to fix a long-patched vulnerability, according to a cybersecurity researcher who has studied the situation.

The credit card company is creating avenues for their staff, veterans and talent outside their organization looking to upskill.

An email security company has found a 12-fold increase in the number of phishing emails it has seen since the advent of ChatGPT, and malicious models may be to blame.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

In our ongoing battle against financial fraud, we need a holistic overhaul of the regulatory landscape to safeguard the financial industry and its stakeholders effectively.

The cybercriminals said a new SEC rule required loan software company MeridianLink to report last week's breach, but the rule does not take effect until next month.

Fraudsters are likely to increase their use of generative artificial intelligence to attack banks and other payment companies. Investors are using their own influence to fight back.

The market stayed open four extra hours to allow participants to reroute trades Thursday after an attack by cybercrime group Lockbit.

The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.

The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.