Mobile banking is rapidly moving to near-universal availability, but customer uptake rates remain relatively low, according to a newly released survey from the Federal Reserve Banks of Atlanta, Boston, Dallas, Minneapolis and Richmond.
The Third Circuit’s decision will strengthen the FTC’s exercise of authority over issues of cybersecurity.
Visa and Target have reached a $67 million settlement of claims by Visa and its card issuers related to losses from Target’s 2013 data breach, news outlets reported yesterday.
At a Capitol Hill event on payment security technology yesterday, ABA SVP Bill Boger represented the financial services industry and emphasized the importance of innovation and dynamic technology in stopping card fraud.
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.