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.

Marriott today revealed a massive breach of personal information -- possibly including payment card data -- for up to 500 million guests who made reservations at hotels in the Starwood chain, which Marriott acquired in 2016.

Read on for further insights on faster payments, open banking, security and more.

Thinking beyond the fallout from a cyber incident.

For payments fraud professionals, fighting fraud can seem like a marathon with a finish line that keeps moving further and further away.

Ahead of a Senate Commerce Committee hearing on consumer data privacy today, ABA in a statement submitted for the record called on lawmakers to consider the existing set of privacy laws banks adhere to when drafting new federal privacy legislation.

As part of an ongoing effort to modernize U.S. data privacy policy, the Commerce Department’s National Telecommunications and Information Administration has published for comment a proposal intended to guide organizations as they develop new policies and procedures regarding the treatment of consumer data.

Banks should not expect relief from the courts when faced with losses caused by retailer negligence.