Cyber security

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.

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 regulator to the CFPB, and more.

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

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.

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 of timely interest.