The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement.
Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.
Building off the popularity of its personal financial management tool, HelloWallet, the Cleveland bank is now offering in-person financial checkups as a way to deepen customer relationships.
The Delaware company, best known for issuing prepaid cards, has ramped up commercial real estate securitizations. The shift promises to deliver big fees, but it could also cause headaches if defaults spike.
Among other things, the letter asked the regulators to ease requirements for a new community bank leverage ratio and analyze the impact of the pending CECL accounting change.
Though involving an eye-popping 106 million credit card applicants' information, Capital One's breach was also unusual in a number of ways, including that it was quickly caught through a responsible disclosure program run by the bank.
