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.
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.
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.
FirstBank CEO and ABA Government Relations Council Chairman Jim Reuter talks about blazing a trail.
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.
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.
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.
Bankers today require a broader understanding of technology issues, especially cybersecurity, while also needing deep grounding in core leadership principles, says former bank executive and current business school teacher Greg Smith on the latest episode of the ABA Banking Journal Podcast.
As the National Institute of Standards and Technology works to develop a sector-wide privacy framework, ABA yesterday joined the Bank Policy Institute and SIFMA in a comment letter encouraging NIST to consider existing data privacy frameworks already in place for financial institutions and to work collaboratively with the private sector.
In a year that saw passage of a major regulatory reform law, U.S. financial institutions’ anxiety levels over compliance obligations eased significantly, according to a survey released this morning by Wolters Kluwer.