FDIC Warns on ‘Gaps’ in Tech Vendor Contracts
The FDIC issued a letter to all banks today outlining gaps that some examiners had noted in banks’ contracts with technology vendors and reiterating regulatory requirements for these contracts.
Browsing: Cybersecurity
Crapo: Housing Finance, Data Security Top Senate Banking Agenda
Housing finance and data security will be top items on the Senate Banking Committee’s agenda in this Congress, committee Chairman Mike Crapo (R-Idaho) told attendees at ABA’s Washington Summit today.
GAO Recommends Beefing Up FTC, CFPB Enforcement of Nonbank Data Privacy
To mitigate the risk of data breaches like the Equifax breach in 2017, the Federal Trade Commission should have civil penalty authority to enforce the consumer privacy requirements of the Gramm-Leach-Bliley Act, the Government Accountability Office said in a report today.
ABA Emphasizes Banks’ Commitment to Consumer Privacy
Responding to a request for feedback on consumer privacy legislation from Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio), ABA today emphasized banks’ strong privacy and data security framework under the Gramm-Leach-Bliley Act and called for Congress to take an approach that ensures consistent privacy protections while promoting marketplace efficiency.
Bonus Podcast: Spreading the Word on Phishing
With consumer losses from phishing scams in 2017 up 375 percent from two years prior, according to FBI data, the ABA Banking Journal Podcast marks National Consumer Protection Week with a bonus episode on phishing.
ABA Foundation, FTC Release Infographic on Phishing Threat
As phishing becomes a top cyber threat—with losses growing to nearly $30 million in 2017 from $8 million in 2015, according to the FBI—ABA and the Federal Trade Commission today released a new infographic highlighting this growing problem.
The Leadership Track
FirstBank CEO and ABA Government Relations Council Chairman Jim Reuter talks about blazing a trail.
Sens. Crapo, Brown Seek Feedback on Data Privacy
Sens. Mike Crapo (R-Idaho) and Sherrod Brown (D-Ohio) — the chairman and ranking member of the Senate Banking Committee, respectively — today asked for stakeholder feedback on how financial regulators and companies collect, use and protect sensitive consumer data.
ABA Recommends No Changes to FTC’s Current Identity Theft Rules
As the Federal Trade Commission undertakes a systematic review of all current rules and regulations, the American Bankers Association today offered feedback its identity theft rules.
Sen. Crapo Previews Data Privacy Agenda for 116th Congress
Senate Banking Committee Chairman Mike Crapo (R-Idaho) today outlined the approach to data privacy and data security legislation he will continue to pursue during the 116th Congress.