Compliance

Vice Chair for Supervision Michael Barr says generative AI could present financial-stability risks if certain models are used ubiquitously.

Even as quantum computers still can't break encryption, the banking industry has been preparing for more than a year to start switching to post-quantum cryptography.

It has never been more important for banks, particularly those over $10 billion of assets, to establish ironclad data quality, governance and control standards. The failure to do so will have cascading negative consequences.

While financial institutions continue to recover from the widespread tech disruption, executives are asking what effective fix-it plans might look like during future events.

Loandepot and Mr. Cooper said they've spent tens of millions of dollars this year following recent, major hacks.

The personal data collection company, which offers its database for background check and private investigation services, acknowledged the major breach.

The National Institute of Standards and Technology finalized long-awaited standards for encryption algorithms that can withstand quantum computers.

Automatic updates and data encryption have their advantages. As many CrowdStrike customers learned on July 19, they also have disadvantages.

The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.

The cybersecurity company promised more rigorous tests for software updates after a widespread IT outage last month.