HSBC is the latest bank to be hit with this type of attack, in which hackers take stolen user names and passwords from one site and attempt to reuse them to login to banks.
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.
Information about new account holders pulled from Bank of America, JPMorgan Chase, U.S. Bank, and Wells Fargo contradicts the notion that the previously unbanked turn into costlier customers.
What the bank is doing differently with its personal financial management tools could be instructive to the many institutions that haven’t gained much traction with similar offerings.
How banks and network providers combat real-time payment fraud; online banks try new pricing strategies; the Most Powerful Women in Banking call for greater leadership diversity; and more from this week's most-read stories.
CIT Bank and Simple recently started offering higher yields on the condition that customers make regular contributions to savings. The offers are designed to help the banks avoid rate wars, but some analysts question whether they will appeal to enough consumers.
