Data and information management

Salt Labs researchers exploited four types of vulnerabilities in the application programming interfaces of a large financial company. Their findings contradict conventional wisdom about the safety of APIs in the sharing of consumer data.

The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

Banks should let consumers download their account data and transfer it to other financial providers, according to a new presidential order. Some experts argue aggregators are already making this happen, but others say the directive implies more consumer control.

The White House is calling on the Department of Justice and federal regulators to give bank deals more scrutiny as part of a broader executive order meant to encourage competition across the U.S. economy.

Morgan Stanley on Thursday disclosed that a data breach at one of its contractors led to the theft of personal information about some customers whose stock accounts had gone dormant.

Fraudsters use different tactics based on their intended victims, and banks like Republic Bancorp and Wells Fargo are targeting the kinds of notices they send — and which channels they direct them to — in response.

Europe has encouraged adoption with rules that put consumers in control of the way their data is shared among banks, fintechs and third-party vendors. Whether the U.S. can make similar progress without its own rules is unclear.

The government helped the gas pipeline operator recoup some of the funds it paid to cyberthieves, but that's unlikely to happen often. Banks should shore up password security to minimize risk and be willing to reject hackers' demands in the event of a breach.

The Faster Identity Online Alliance has established its first user-experience guidelines and delivered new standards designed to more quickly move authentication processes past traditional username-and-password combinations.

How technology is enabling new types of payment transmission and what this means for banking.