What Compliance Needs to Know in the Event of a Security Breach
When a breach occurs, a bank’s compliance unit can be a valuable resource to help execute the incident response plan. Here’s how.
Browsing: Data breaches
Rep. McHenry Calls for Hearing on Cybersecurity, Data Protection
In a letter to House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) today, Ranking Member Patrick McHenry (R-N.C.) today called for a hearing on cybersecurity and data protection in the financial services sector in response to concerns raised by industry leaders and recent data breaches.
California Updates Its Privacy Policy
Analyzing the Gramm-Leach-Bliley exception in California’s new privacy law—and its implications for banks.
Study: Consumers Increasingly Concerned with Data Security, Privacy
As consumers become increasingly concerned about privacy and data security, building trust with customers is paramount for successful companies, according to a new global survey from Verizon and Longitude.
Crapo: Housing Finance, Data Security Top Senate Banking Agenda
Housing finance and data security will be top items on the Senate Banking Committee’s agenda in this Congress, committee Chairman Mike Crapo (R-Idaho) told attendees at ABA’s Washington Summit today.
Legal Notice – Wendy’s Financial Institution Data Breach Settlement
If your financial institution issued one or more payment cards that was identified as having been at risk as a result of the data breach that Wendy’s announced in 2016, it could get a payment from a class action settlement.
GAO Recommends Beefing Up FTC, CFPB Enforcement of Nonbank Data Privacy
To mitigate the risk of data breaches like the Equifax breach in 2017, the Federal Trade Commission should have civil penalty authority to enforce the consumer privacy requirements of the Gramm-Leach-Bliley Act, the Government Accountability Office said in a report today.
ABA Emphasizes Banks’ Commitment to Consumer Privacy
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.
Wendy’s Reaches Data Breach Settlement with Banks
U.S. fast food chain Wendy’s last week announced a $50 million settlement with financial institutions that suffered losses during a data breach that ran from October 2015 through June 2016.
Sens. Crapo, Brown Seek Feedback on Data Privacy
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.