Lawyers for the plaintiff maintain the companies should have been on notice of inadequate security measures after a reported data breach in 2022.

To make amends to former and current borrowers, Mr. Cooper is footing the bill for two years of complimentary identity protection services.

An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

To date, all of the lawsuits accuse the servicer of failing to secure and safeguard customers personal identifiable information.

Also, Wells Fargo, Finance of America entered into partnerships affecting real estate tax and cybersecurity solutions.

At least two legal actions have been filed in a Texas federal court.

Some of the lender's servicing systems continue to be shutdown as of Wednesday.

Some of the lender and servicer's systems are offline following the attack on Oct. 31.

The order follows a similar decree by the Securities and Exchange Commission for publicly traded firms to disclose incidents they deem "material."

The types of attacks ranged from malware, phishing and a zero-day hack of a vendor software which has rattled numerous bank and non-bank lenders.

The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

Panelists from the Secret Service at a Mortgage Bankers Association conference Monday urged mortgage lenders to tweak their approach to reporting of wire fraud, home equity theft, investment scams and elderly-related financial crimes, which are on the rise.

The customers were affected by an incident involving a Progress Software program used by Sovos Compliance.

Ransomware attacks are an increasingly significant threat to the home finance industry.

Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.

The incident occurred in November 2020 when an unauthorized party gained access to company systems and deployed ransomware, resulting in compromise of employees' personal information.

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.