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February 3 – Warning of “flaws and limitations in a murky system,” the Consumer Financial Protection Bureau has contacted the 25 largest retail banks to encourage them to offer lower-risk deposit accounts that help consumers avoid overdrafting. The move is in an effort to improve checking account access amidst bureau concerns that account options are lacking and that inaccurate information is used to screen potential customers. (more…)
February 1 – The nation’s banks stopped more than $8 out of every $10 of attempted deposit account fraud in 2014, according to the 2015 American Bankers Association Deposit Account Fraud Survey Report. While attempted fraud against bank deposit accounts reached $13 billion, banks’ prevention measures stopped $11 billion in fraudulent transactions. Fraud against bank deposit accounts cost the industry $1.9 billion in losses an increase from $1.7 billion in 2012. (more…)
January 27 – CyberArk, the company that protects organizations from cyber attacks that have made their way inside the network perimeter, has announced details of its upcoming global webinar, “What You Should Know About the Common Thread in the World’s Best Known Cyber Attacks…Privileged Accounts,” featuring guest speakers from IDC.
January 25 – First National Bank, the largest subsidiary of F.N.B. Corporation has announced a new innovative approach to its retail delivery strategy. The first phase of the new approach will include a series of technology-based initiatives designed to integrate FNB’s physical and e-delivery channels for a more seamless banking experience.
January 6 – The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, and the Community Development Financial Institutions Fund will host the 2016 National Interagency Community Reinvestment Conference in Los Angeles from February 8 to 10.
January 6 – “The average time between an attacker breaching a network and its owner noticing the intrusion is 205 days,” according to a recent article from CFO.com. The study, “Cybersecurity: The Cost of Immaturity,” goes on to say, “the penalties for getting cybersecurity wrong are steep. Nortel, a Canadian telecoms giant, went bust in part because hackers stole so much of its intellectual property. Target, an American retailer, lost the credit-card details of 40 million customers.”