News Topic: Equifax

An ex-regulator’s stern warning about the risks of sharing consumer information with fintechs has prompted debate over common security standards for banks and nonbanks, better data tracking and new liability insurance products. ... Read full article

The Trump administration is “sounding a friendlier tone” toward bankers following the Obama chill; credit bureau takes steps to limit the financial damage. ... Read full article

Company’s first earnings report since the data breach also discloses lots of suits and investigations; Senate bill also calls for one-year delay in corporate tax rate cut to 20%. ... Read full article

Readers chime in on the idea of a state-backed bank to serve the cannabis industry, data-sharing between banks and fintechs, whether community banks can just focus on tech laggards, and more. ... Read full article

Barros has no answer for Senate committee on encryption; a bitcoin network split won’t happen … for now. ... Read full article

The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach. ... Read full article

New York Fed chief cautions against taking “meat cleaver” to Dodd-Frank; Stephanie Cohen, one of the highest-ranking women at the bank, will try finding new sources of revenue. ... Read full article

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger. ... Read full article

President Trump is expected to announce his Fed chair nominee this week; three deals earned JPM's boss almost $100 million. ... Read full article

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of ... Read full article

Equifax continues work to add new security features and restore full access to The Work Number following a report highlighting potential security vulnerabilities in a browser-based portal of its employment verification service. ... Read full article

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports. ... Read full article

The president of the St. Louis Fed said that regulators should go back to the pre-Dodd Frank framework for small banks, while warning about changes to the system as fintechs expand their presence. ... Read full article

JPM chief says digital currency “has no actual value,” but likes the blockchain technology behind it; lender will wait until “the time is right” before re-applying. ... Read full article

The legislative response to the Equifax breach is increasingly bipartisan, but will congressional proposals actually reduce the threat to consumers? ... Read full article

Hackers accessed driver’s license data on nearly 11 million people, the company says; the rally in bank shares may sputter out if third-quarter earnings reports disappoint. ... Read full article

Day two of Equifax hearing focuses as much on business model as on the data breach; Fed chair again says she supports bank rules that are not "unduly burdensome." ... Read full article

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax. ... Read full article