Data security

Northwest CU Association hails victory in all three of the states it represents, including an update to Idaho's Credit Union Act, as well as bills related to data security and municipal deposits.

Mark Begor, a former long-time GE Capital executive, faces lots of challenges as the credit bureau recovers; CEO dismisses “widespread rumors” that the bank wants to replace him.

POS payment encryption products are widely available and have been for many years, from technologies designed to secure card data from the point it is entered into the payment terminal, writes Ruston Miles, founder and chief strategy officer of Bluefin Payment Systems.

A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity.

Driven by big breaches like the Equifax incident, all stakeholders in card payments will have to demonstrate multifactor authentication, writes Michael Magrath, director of global regulations and standards at VASCO.

More than a decade ago, bankers fought Walmart tooth and nail as it made forays into banking. But with Amazon making more moves into financial services, the reaction is very different.

Robert Selander was named an independent director of the embattled credit bureau, which is still trying to regain public confidence after a huge data breach last year.

The breach at Expedia's Orbitz not only jeopardized nearly 880,000 payment cards — it cast a spotlight on the weaknesses all companies expose themselves to when they partner with another brand.

With substantial regulatory relief within reach, community bankers should use their clout to shape cybersecurity policy and ensure a level playing field for banks and nonbanks, retiring ICBA chief Cam Fine says.

The measure easily passes with a two-thirds majority; Wells Fargo CEO's pay up by a third, but no cash bonus.