News Topic: Cyber security

The North Carolina bank is the latest regional to experience a widespread outage. ... Read full article

A bipartisan bill to establish a federal security framework follows a string of efforts beset by congressional turf battles. ... Read full article

The finance sector had the highest number of breaches of all industries, with 471 in 2016, according to a report issued Friday by the White House's Council of Economic Advisers. ... Read full article

Just 8% of cybersecurity heads at U.S. financial firms report to the chief executive officer directly and more should do so to improve decision-making, according to the Financial Services Information Sharing & Analysis Center. ... Read full article

Identifying threats to a single bank or the financial system as a whole can be tricky, but there are steps bankers can take to protect themselves. ... Read full article

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus. ... Read full article

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday. ... Read full article

The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better. ... Read full article

Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board. ... Read full article

Bankers could see higher costs as cloud computing vendors struggle to protect their systems from the latest hacking vulnerabilities. ... Read full article

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union ... Read full article

The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point. ... Read full article

The two senators are set to introduce a bill that would force such firms to pay $100 per customer whose personal information was compromised. ... Read full article

Despite impending data requirements, many small banks are still struggling with automating loan risk calculations. ... Read full article

The widespread nature of the threat (most computer chips are vulnerable) and the reality that banks are always juicy targets mean bank officials must take a series of protective actions as soon as possible. ... Read full article

Twenty-two trade groups, including seven financial trade groups, sent a letter to House lawmakers calling for new data security standards that would preempt state law. ... Read full article

In adding Martin Pfinsgraff, until recently the OCC's deputy comptroller for large-bank supervision, and retired Air Force Brig. Gen. Linda Medler, a cybersecurity expert, the regional bank says it is trying to build a board with expertise in fields ... Read full article

The people-helping-people model proffered by LendingClub and others quickly foundered, but several startups aim to bring it back with the help of distributed ledger technology. ... Read full article