Equifax Inc. agreed to pay up to $700 million to resolve U.S. federal and state investigations into the 2017 hack that compromised some of the most sensitive information of more than 140 million people. ... Read full article
The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday. ... Read full article
A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus. ... Read full article
The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals. ... Read full article
Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said. ... Read full article
The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data. ... Read full article
The Conference of State Bank Supervisors urged Sens. Mike Crapo and Sherrod Brown to establish a baseline for consumer protection in data privacy and security that would leave room for stricter state rules. ... Read full article
The data breach at Equifax and Facebook's scandals have made data privacy a big issue to state and federal lawmakers. Here's why banks need to be worried. ... Read full article
The top Republican and Democrat on the Senate Banking Committee are asking for stakeholders to weigh in on data collection issues as lawmakers consider legislative responses to recent breaches. ... Read full article
As another possible shutdown looms, concerns about furloughed workers’ credit histories have shifted the reform discussion away from data security. ... Read full article
A man entered a SunTrust branch in Sebring, Fla., and shot and killed five women, four of whom were bank employees; 24 million mortgage documents exposed in data security lapse; the battle for deposits is like 'a steel-cage' match; and more from ... Read full article
Spring Labs is spearheading a group of prominent fintech lenders to use a blockchain-based, peer-to-peer network to share consumer information to help with ID verification on loan applications. ... Read full article
Widespread hacks often make front-page news, while measuring the actual harms to customers when personal financial information is stolen gets little attention. ... Read full article
A former senior staffer at the Federal Deposit Insurance Corp. was found guilty of embezzling confidential information about banks from the agency before she left her post, and could face up to 20 years in prison. ... Read full article
Republicans on the House Oversight Committee concluded that last year’s massive data breach at Equifax was fully preventable, but stopped short of recommending new laws aimed at averting future hacks. Democrats called the final report a “missed ... Read full article
Familiar recriminations and calls for legislation from lawmakers followed the massive hack of the Starwood hotel chain, but will Capitol Hill actually do anything? ... Read full article
The comments by Brent McIntosh, Treasury's general counsel, are at odds with concerns by state regulators and consumer groups who fear that a national standard on how firms handle data breaches could weaken pre-existing rules. ... Read full article
The bank says a calculation error led it to deny help to distressed homeowners; a former U.S. deputy attorney general will help with in the 1MDB fraud scandal. ... Read full article
The breach may have occurred through a technique called "credential stuffing," in which hackers who have stolen passwords for other websites try them out on an online banking site. ... Read full article
Main Street and Wall Street banks show strong earnings gains over last year; the president calls the Fed’s rate raising policies “my biggest threat.” ... Read full article
