Data and information management

Mortgage companies and third-parties they partner with represent potential prime targets for certain criminal schemes due to the frequent transfer of large sums of money, cybersecurity experts say.

The cloud storage provider has notified 165 potentially exposed businesses.

From updates in mortgage-related court cases, to developments in AI and policy, here are the most-read stories from National Mortgage News over the past week.

Consumer Financial Protection Bureau Director Rohit Chopra touted the bureau's work on data privacy and open banking, and asked that lawmakers on both sides of the aisle pursue legislation to further consumer protections.

The Consumer Financial Protection Bureau issued a final rule pursuant to its broader open banking proposal Wednesday that would require standard-setting bodies to include public interest consumer groups and others to receive bureau recognition.

Test your knowledge of the biggest mortgage headlines, from the "zombie property apocalypse" to fraud. No. 2 pencil not required!

The title insurance giant was one of several major mortgage players to suffer a hack late last year.

A Connecticut judge gave preliminary approval of a $2.42 million settlement between the plaintiffs and Planet Home Lending. Plaintiffs could receive up to $2,000 from the settlement fund.

Test your knowledge of the biggest mortgage headlines, from overtime lawsuits to data breaches. No. 2 pencil not required!

All lenders experiencing system breaches must report the incidents within 12 hours of detection, the administration announced.

Mortgage-related businesses need to use a variety of low-cost tools to mitigate their risks, according to a panel of cyber risk leaders.

The hack that occurred in December affected 27,746 mortgage customers, the South Carolina-based lender said.

A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.

After gaining access to On Q systems via vendor software, unknown parties were able to obtain and remove client personal information, including Social Security numbers.

The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.

Some vendors can act as backups when a cyberattack knocks the regular provider's system offline. Others offer vendor management expertise that may help.

Keeping vendor arrangements under wraps, "pen-tests" and a few simple email setting changes can make a world of difference in avoiding future attacks, experts say.

Malicious actors could be utilizing the same software that cybersecurity experts use to test a company's systems for vulnerabilities.

An unnamed hacker in December "potentially removed" sensitive consumer data including Social Security numbers from the wholesale lender.

The attack is one of three major incidents the lender has suffered in the past three years.