News Topic: Data security

Small-business owners applying for Economic Injury Disaster Loans could see another applicant's information if they hit the back button. ... 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

Recent proposals considered or passed by legislatures around the country grant banks certain exemptions, but they differ from state to state and may pose new compliance headaches. ... Read full article

Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments. ... Read full article

Iranian hackers have a history of targeting U.S. banks. Security experts discussed how bankers can prepare themselves if such attacks are renewed as part of a response to the killing of Qassem Soleimani. ... Read full article

Responding to the fast pace of payments technology and its impact on privacy and data security, Mastercard plans to recruit a range of companies, educational institutions and agencies to produce a set of best practices. ... Read full article

Facebook’s cryptocurrency would not help underserved communities, despite the claims of its CEO, who is slated to appear before Congress this week. ... Read full article

With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants. ... Read full article

Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms. ... Read full article

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity. ... Read full article

Regulators are letting banks choose from among four security frameworks, but some observers are urging a more prescriptive approach. ... Read full article

When lawmakers return from their August recess, there are a host of unresolved financial policy issues — from marijuana banking to anti-money-laundering rule — to greet them. ... Read full article

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency. ... Read full article

Apple's new credit card isn't just another virtual card in its virtual wallet. It borrows a lot of features from the most successful brands in payments and technology. ... Read full article

Banks have to do a better job of protecting personal information about their customers' children. ... Read full article

The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement. ... Read full article

OFX is used by 7,000 banks while FDX is used by 2 million consumers. The two standards are converging. ... Read full article

The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy. ... Read full article