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.
Noting an environment of “high” credit, strategic, compliance and operational risk, the OCC outlined nine priorities for ongoing midsize and community bank supervision in its Semiannual Risk Perspective report released yesterday.
As many as three-quarters of all merchants may not have implemented EMV chip card technology before the Oct. 1 liability shift, according to a report last week from Javelin Strategy and Research.
All participants in the payments system must work together to ensure that payment innovation advances safely, Federal Reserve Governor Jerome Powell said today at a payments conference in Kansas City.
When a cyber event or data breach happens, bank executives need to be ready to communicate—both internally and externally. Here’s how to prepare.