A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.
A new documentary airing on PBS Tuesday raises questions about why prosecutors targeted a small bank after the financial crisis and left bigger institutions untouched.
Lawmakers signaled Monday that Congress will likely have a swift and powerful response to revelations that the credit reporting company Equifax was hacked, exposing 143 million people to identity theft.
It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry that it needs to end its reliance on static personal identifiers like Social Security numbers and birth dates.
One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the banks that use it.
One year after the San Francisco megabank paid $190 million in fines and restitution after it opened millions of unauthorized accounts, Wells remains mired in scandal. Why hasn't the firm been able to recover?
It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.
The changes to the National Multistate Licensing System will include a more customized user experience for companies and functionality for states to share examination data.
Quaint Oak in Pennsylvania is making a big push in real estate brokerage, a business that many state-chartered banks might think is illegal for them to pursue.
“You can’t serve the public if your employees are shell-shocked,” said one top banker, comments echoed by other institutions dealing with the aftermath of Hurricane Harvey.
