Data and information management

Chief executives from across the business world are set to join President Biden for a discussion Wednesday on how industry and the federal government can partner to improve cybersecurity in the face of debilitating ransomware and cyberattacks.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

Whether it’s ransomware or a natural disaster, a sudden freeze on operations can be devastating, and the recent incident highlights why mortgage industry businesses must constantly review their data security efforts.

The White House is calling on the Department of Justice and federal regulators to give bank deals more scrutiny as part of a broader executive order meant to encourage competition across the U.S. economy.

While the company did notify the public and regulators in May 2019, executives were not aware at the time that there was previous knowledge of the security vulnerability within the company.

With the Colonial Pipeline attack still in the news, bank CEOs testifying at a recent hearing cited cyber risk as the biggest threat facing the industry. But members of Congress did not share those concerns, and instead were more focused on criticizing banks about overdraft fees and their level of investment in minority communities.

There is no doubt 2020 was a year of contactless transactions. But what implications do contactless payments present when it comes to security?

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.

How consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization.

Emerging consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization.

In an open letter, industry veteran Thomas Vartanian outlines the steps the administration can take to encourage innovation, better detect cyber threats and modernize regulation.

Corporate breaches facilitated by employees — often accidentally — rose significantly this year, and banks have been particularly hard hit. Here's why.

As it attempts to craft policy on access to consumers’ financial account information, the agency is wading into a battle between those who want data to flow more freely and those who prioritize security.

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.

The rulemaking is expected to draw enormous interest from both banks and third-party fintech providers.

Mortgage companies contended with an average of 1,316 fraud attempts per month in 2020, up from 1,280 in the previous year, according to the latest study by LexisNexis Risk Solutions.

The recent decrease in the rate at which current loans became impaired could further encourage the cautious return of the non-QM market currently underway.

Data security, while better than paper-based processes, still can be a problem, according to panelists at Digital Mortgage 2020.