The implementation plan the Biden administration released on Thursday seeks to shift liability for data breaches onto "the biggest, most capable" entities. Does that mean banks?

Ransomware gang Cl0p is currently threatening 50 companies with releasing data it stole from them late last month.

Carrington Mortgage Services and its vendor also face three new federal lawsuits, which claim the number of customers impacted in their incidents exceeds 3 million clients.

The government-sponsored enterprise plans to further decentralize security services, which will enable risk management across the business, said Chita Elango, senior director of application security.

The New York State Department of Financial Services found the company failed to adequately protect itself from data breaches. Since 2018, OneMain has suffered multiple cybersecurity incidents.

The hackers, on their dark web blog, recently threatened to release supposed company and borrower information if the lender did not pay.

The incident affecting the information of 1,361 customers is a rare disclosure of a data breach from a top mortgage lender and servicer.

The servicer didn't disclose how many customers were affected by the incident.

Financial services firms are focusing on essential risk-related priorities, but must not lose sight of the importance of innovative technologies that drive business forward.

The case involved incidents occurring in early 2021, when an unauthorized individual obtained access to files containing personal identifiable information of consumers.