One in 10 community banks planning to launch crypto services
Insights from the 2022 Federal Reserve/CSBS survey of community banks.
Tag: Cybersecurity
ABA, BPI urge FFIEC to embrace industry-developed Cyber Profile
In a letter to the Federal Financial Institutions Examination Council earlier this month, ABA and the Bank Policy Institute offered ...
FDIC, FinCEN publish summary of recent digital identity proofing ‘tech sprint’
The FDIC and the Financial Crimes Enforcement Network today published key takeaways and solution summaries from a recent “tech sprint” ...
OCC issues bulletin on video conferencing and data privacy
The OCC today issued a bulletin for community banks on the legal requirements for protecting non-public OCC information in video ...
Survey: Banks increase tech budgets to upgrade security
Eight in 10 U.S. bank board members and executives said that their banks had increased their technology budgets in 2022, ...
Consumers cite security as top reason for choosing bank in poll
Security and fraud protection are replacing “low or no fees” as the top reasons why consumers choose a new bank, ...
CFPB guidance warns nonbank financial firms on data security
The Consumer Financial Protection Bureau published a circular today on how and when nonbank financial firms—such as fintech companies and ...
OCCs Hsu gives banks high marks on mitigating cyber risk, but says there’s more to do
The financial services sector has done “a good job” so far of building cyber defenses and working with law enforcement ...
ABA, BPI urge Senate to reject establishment of duplicative ‘systemically important’ designation
As the Senate considers the 2023 National Defense Authorization Act, ABA and the Bank Policy Institute urged lawmakers to omit ...
Data breaches grow costlier for financial institutions
Data breaches cost financial intuitions an average of $5.97 million in 2021 and 2022, with health care being the only ...
