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.
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.
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.
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.
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. 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.
Senate Banking Committee Chairman Mike Crapo (R-Idaho) today outlined the approach to data privacy and data security legislation he will continue to pursue during the 116th Congress.
ABA President and CEO Rob Nichols appeared on Kevin Cirilli’s Bloomberg Radio show yesterday to discuss the legislative outlook for the banking industry in the 116th Congress
Newly sworn-in Consumer Financial Protection Bureau Director Kathy Kraninger will focus on data security and privacy in her early days in office, she said at a press briefing on her first day at the bureau this afternoon.
In an era of frequent data breaches and growing concern over technology companies’ use of consumer data, nearly three-quarters of Americans said they are more concerned about their data privacy than they were a year before, according to a survey conducted by software company SAS.