Security risk

A cautionary tale of open banking


Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks.


Inside a 'bug bounty' program to spot cybersecurity flaws


The PFM app provider Personal Capital set up a safe way for hackers to expose vulnerabilities in its software.


Are Iranian hackers going after U.S. banks again?


Security companies report a recent spike in spearphishing campaigns originating in Iran and targeting banks.


When your vendor's vendor has sloppy security


A security breach that left 24 million mortgage documents unprotected on a server is rekindling concerns about the risks posed by fourth parties.


Updated GSE plan, CECL change, Wells layoffs: Top stories of the week


Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.


Fifth Third seeks to regroup after fatal shootings at its HQ branch


A horrific tragedy unfolded at Fifth Third's main building in downtown Cincinnati, when a man opened fire on bystanders in and around the lobby-level branch. Three were killed, and the gunman died in a shootout with police.


Equifax reaches deal with 8 states on steps to avoid future breaches


Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.


PayPal settles Venmo disclosure complaints with the FTC


The Federal Trade Commission contends Venmo misled consumers on funds availability and security disclosures.


Senators call for investigation of insider stock sale by Equifax execs


Thirty-six lawmakers signed a bipartisan letter Tuesday calling for an investigation into the sale of stock by Equifax executives between a data breach at the firm and when it was disclosed.


'Costs are costs': Comments of week


Readers weigh in on a proposal for encouraging small bank installment loans, a firm that uses AI to reduce false alarms, what security improvements are needed for sharing customer data, and more.