Industry Groups Urge Cybersecurity Reforms After Major Regulator Data Breach
Four major trade associations are calling for sweeping cybersecurity reforms among federal financial regulators after a breach at the Office of the Comptroller of the Currency (OCC) exposed over 148,000 sensitive documents. In a joint letter to Treasury Secretary Scott Bessent, the Bank Policy Institute, American Bankers Association, Managed Funds Association, and SIFMA stressed that the breach highlights a broader risk of cyberattacks against critical government infrastructure.
MUFG and NTT DATA Test Photon-Based Tech to Prevent IT Outages
MUFG Bank and NTT DATA have successfully tested a cutting-edge solution to minimize IT outages by migrating live banking systems between data centers with less than one second of downtime.
Gaps in Financial Data Privacy Laws Raise Concerns
Over the past six years, 18 states have enacted data privacy laws aimed at giving individuals more control over their personal information and limiting unnecessary data collection.
DoorDash Settlement: California Attorney General Cracks Down on Privacy Violations
California Attorney General Rob Bonta announced a resolution with DoorDash today, addressing breaches of the California Consumer Privacy Act (CCPA) and the California Online Privacy Protection Act (CalOPPA).
CFPB Unveils Sweeping Changes to Fair Credit Reporting Act
The Consumer Financial Protection Bureau (CFPB) has unveiled extensive modifications to the Fair Credit Reporting Act (FCRA), signaling significant implications for data brokers, furnishers, and end users.
FCA calls for input on the use of synthetic data to support financial services innovation
The Financial Conduct Authority has launched a study into the use of algorithmically generated synthetic data and its potential for safely opening data sharing between firms, regulators and other public bodies.
European Commission adopts new tools for safe exchanges of personal data
Source: European Commission
Today, the European Commission adopted two sets of standard contractual clauses, one for use between controllers and processors and one for the transfer of personal data to third countries.
MobiKwik calls in external auditors to investigate alleged data breach
Having initially dismissed reports of the leak of 100 million customer files on the dark web, Indian payments processor MobiKwick has brought in external investigators to conduct a forensic data security audit.
