ABA yesterday urged Senate leaders to pass the Cybersecurity Information Sharing Act — which may be brought to the Senate floor for a vote this week — and to defeat any amendments offered that would undermine the legislation.
Senate Majority Leader Mitch McConnell (R-Ky.) said last week that he expects to bring the ABA-backed Cybersecurity Information Sharing Act to a vote in the Senate this week, although legislative procedures may prevent its reaching the floor.
MasterCard has announced several changes to its Account Data Compromise program, increasing and accelerating reimbursements for costs incurred by card issuers after data breaches.
The House Financial Services Committee is scheduled to meet tomorrow to begin voting on several bills that are part of ABA’s Agenda for America’s Hometown Banks.
The Treasury Department is seeking to accelerate declassification of financial cyber threat information to help financial institutions protect their systems and customers, Sarah Bloom Raskin said today at ABA’s Summer Leadership Meeting.
The FCC granted all four petitions made by ABA last fall to exempt certain time-sensitive texts and calls that banks make to their customers.
Testifying before the Senate Judiciary Committee today, ABA SVP Doug Johnson called on Congress to act swiftly to enhance the penalties faced by cyber criminals.
ABA SVP Doug Johnson will testify tomorrow before a Senate Judiciary subcommittee hearing on cyber crime and the legal framework for information security. The Senate Banking Committee will meet tomorrow to discuss the role of the Basel, Switzerland-based Financial Stability Board in U.S. bank regulation.
Meanwhile, the House Financial Services Committee will hold several bank-related hearings this week. Tomorrow, the panel will discuss the designation and regulation of systemically important bank holding companies; former ABA Chairman Harris Simmons, chairman and CEO of Zions Bancorporation in Salt Lake City, will testify.
On Thursday, the House panel will also hold a five-year retrospective on Dodd-Frank. The House Judiciary Committee will meet on Thursday to examine financial institution bankruptcy.
Bank regulators should collect and analyze data from IT exams across institutions to better identify trends and target reviews, the Government Accountability Office said in a report Thursday. The report found that while each regulator collects some information, they do not have standardized methods for collecting data that would help them readily analyze trends. It
The agencies of the Federal Financial Institutions Examination Council yesterday released a free cybersecurity self-assessment tool to help financial institutions of all sizes identify the cyber risks they face and assess their preparedness. The assessment is based on a 2014 pilot cybersecurity assessment of more than 500 financial institutions.