Data and information management

The card network sells aggregate information about customer spending habits, which data-privacy advocates say goes past Mastercard's role as a payment processor. Mastercard explained the recent removal of certain advertisements as a business decision.

Rep. Jamie Raskin, D-Md., said that House Republican subpoenas seeking information about the finances of the Biden family cross a line in bank data privacy.

The U.K. Information Commissioner's Office concluded that the former chief executive officer of NatWest Group breached data-protection laws when she discussed the closure of former British politician Nigel Farage's bank account with a reporter. 

Banks already share consumers' transaction data with fintechs, mostly through data aggregators, and often grudgingly through screen scraping. The proposed 1033 regulation could give more control to consumers, better data access to fintechs and a competitive edge to big banks over smaller ones, some observers say.

The global clearinghouse inked the deal with Securrency as part of its push to expand the use of the emerging technology in capital markets.

The Consumer Financial Protection Bureau's proposal would give consumers a legal right to grant third parties access to financial data for a specific use, but firms cannot sell the data or use it for their own benefit — including by feeding it into algorithms or artificial intelligence.

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.

The Federal Reserve vice chair for supervision said advancements in technology could put banks in a "constant struggle" to stay ahead of hackers and other bad actors.

In a Wednesday Congressional hearing, an assistant superintendent explained why her school district decided to pay a ransom to cyber criminals. It's a cautionary tale for banks, which are often targets.

At the Sibos conference, cybersecurity leaders at banks and other experts debated how to train employees to thwart threats that AI has intensified.