Data and information management

The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability.

KRACK, combined with other attacks, allows for the reading of pain text username, passwords, credit card numbers as well as the injection of code including ransomware, writes Timothy Crosby, senior security consultant for Spohn.

Both banks and fintech are satisfied for now with the CFPB's nonbinding principles on data-sharing. But the statement may lay the groundwork for future regulation.

Equifax continues work to add new security features and restore full access to The Work Number following a report highlighting potential security vulnerabilities in a browser-based portal of its employment verification service.

The answer is to change the authentication framework altogether with new technologies that employ passive biometrics and behavioral analytics, writes Ryan Wilk, vice president of customer success at NuData Security.

Ditching paper and digitizing tasks help community banks operate more efficiently and write more profitable commercial loans.

The problem could be even worse this year, thanks to a new round of consumer data breaches, including the huge Equifax breach that exposed protected data on more than 145 million Americans, writes Rafael, executive vice president at ClearSale.

As incidents such as the Equifax breach create more urgency to move beyond static identifiers and authentication methods, Visa is getting aggressive about pushing dynamic tools to vet and shield identity.

The nonbinding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.

Companies and households should therefore be on the lookout for security patches of their wireless access points and endpoint devices like laptops, desktops and mobile devices, write Steven Murdoch and Frederik Mennes from Vasco Data Security

Reflections and insights from the CUNA Tech and Operations & Member Experience Councils conferences held recenlty in Phoenix.

Sir Tim Berners-Lee, creator of the World Wide Web, exhorted developers to think about unintended consequences, saying he felt guilty over the digital divide and the proliferation of fake news.

Cleaning up bad data is expensive and time-consuming, but just leaving it alone costs even more. Here are strategies to improve the process.

Public Service Credit Union's approach to keeping information safe has also helped address a variety of resource shortages.

You can’t just turn the computers off and shut your door, nor can you rely on outdated, traditional training methods to prepare your team for a landscape of threats and continuously evolve, writes Laura Lee, executive vice president of cyber training and assessments at the Circadence Corporation.

Barclays Plc will need to defend its advantages in the payments business from encroachment by technology companies including Amazon.com Inc. and Apple Inc., according to Chief Executive Officer Jes Staley.

Best Practices Awards offer a wealth of field-tested ideas to improve your credit union.

JPM chief says digital currency “has no actual value,” but likes the blockchain technology behind it; lender will wait until “the time is right” before re-applying.

Credit Suisse, State Street and several other banks are experimenting with a blockchain technology that could allow them to make corporate deposits more affordable to hold on their books.

The ratings agency said its systems were not compromised, but it is taking precautions on reports of an attempted hack; new MIT-backed comapny to rate financial firms on vulnerability to financial crime.