News Topic: Data management

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Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged. ... Read full article

The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information. ... Read full article

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck. ... Read full article

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook. ... Read full article

The Federal Financial Institutions Examination Council is best suited to craft uniform policies to protect consumer data. A patchwork of state rules is cumbersome. ... Read full article

As PPP enters forgiveness phase, some banks see outsourcing as best move; after the Fed’s stress tests, Wells Fargo to cut dividend while other big banks boost capital buffer; Supreme Court strikes down CFPB leadership structure; and more from this week’s ... Read full article

Technology has helped banks expand globally, but complying with country-specific laws restricting data flows is a constant struggle. ... Read full article

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering. ... Read full article

The Toronto company is testing new software from Cinchy that lets its technology teams visualize how datasets spread across departments might work together to make client referrals or collaborate with fintechs. ... Read full article

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection. ... Read full article

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle. ... Read full article

A 15-hour shutdown of online banking, mobile banking, ATMs and wire transfers was caused by a single data storage unit. BB&T's lawsuit blames the vendor, but the bank may have left itself too exposed to equipment failure. ... Read full article

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction. ... Read full article

Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing. ... Read full article