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There's almost no good way of tell a bank customer that her personal data's been stolen. But some banks do a particularly bad job of communicating during a security incident.
October 7 -
Bank of New York Mellon has agreed to buy the fixed-income firm Cutwater Asset Management from MBIA.
October 6 - WIB PH
Last year's No. 1 Woman to Watch, Karen Peetz is this year's No. 2 Most Powerful Woman in Banking. It's a customary for spot for Peetz, who had been a fixture among the top five for years and was ranked No. 1 in 2011.
September 22
MBIA, the municipal bond insurance giant, suffered a major customer data breach that exposed customer data of an asset-management subsidiary that Bank of New York Mellon has agreed to buy.
Clients' information "may have been illegally accessed," Kevin Brown, a spokesman for MBIA, said Tuesday afternoon. "We are conducting a thorough investigation and will take all measures necessary to protect our customers' data, secure our systems, and preserve evidence for law enforcement."
The breach was
The customers most exposed appear to be municipal investment pools from Texas, Louisiana, New Hampshire, and Connecticut. The accounts were managed through MBIA's subsidiary, Cutwater Asset Management, which oversees $23 billion in assets. BNY Mellon
A spokesman for BNY Mellon would not discuss the breach, referring a reporter to MBIA.
The data breach is the latest setback for MBIA, the nation's largest bond insurer, which has been buffeted by Detroit's bankruptcy, Puerto Rico's ongoing credit problems, and an overall slump in revenue. MBIA's stock hit a 52-week low of $8.87 per share last week, which it approached again Tuesday, reaching a low of $8.96 before ending the day at $9.16.
