Compliance

Banks report cyber events to their boards and regulators more than twice as often as they notify their customers and the general public, according to a recent survey. New reporting requirements could change the equation.

The bank's CEO, Mike Butler, finds signs of fraud using software from FiVerity that identifies suspicious behavior patterns across its client network.

The federal agency says the company’s products are a threat to national security.

The suspects, ages 16 to 21, were apprehended in connection with an investigation into a hacking group called Lapsus$, which has said it’s responsible for a rash of recent cyberattacks against companies including Microsoft and Nvidia.

The identity management company, which has many bank clients, said it learned the extent of a January breach five days before hackers told the world about it.

The cybercriminal group N4ughtySecTU claimed to have stolen 54 million personal records from the credit bureau and demanded $15 million.

When the U.S. announced sanctions against Russia two weeks ago, many feared U.S. banks would bear the brunt of a payback cyberattack. Experts disagree on why that hasn't happened and whether the danger has passed.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.

During his March Federal Open Market Committee meeting press conference, acting Federal Reserve Chair Jerome Powell said the Fed's supervision and regulatory panel was no longer active and key decisions about stress tests and bank mergers were being handled by the full board.

The omnibus legislation includes two measures that affect the banking industry: a cyber incident reporting requirement and Libor transition fix.