The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July.
Severe attacks are on the rise in all sectors, including financial services. There are several specific defenses banks can employ to mitigate and recover from them.
The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas.
The Federal Trade Commission should look into whether Amazon’s failure to secure its services “constitutes an unfair business practice,” which would violate federal law, Sens. Elizabeth Warren and Ron Wyden wrote the agency's chairman.
Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.
Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.
Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, proposed having the central bank update Congress on measures to strengthen its own cybersecurity as well as that of institutions under its watch.
