#financial-institutions

#financial-institutions

The aftermath of a major data breach at Santander involves the alleged sale of customer and staff information, prompting the need for increased security measures within financial institutions.

North Dakota's HB 1127 significantly enhances regulatory requirements for financial institutions, focusing on data security and compliance measures for nonbank entities.

Commvault and Pure Storage enable EU financial institutions to comply with DORA through integrated data protection and recovery solutions.

Major U.S. banks pause information-sharing with the OCC following a significant cyberattack.

Banks in the UK experienced over one month of IT failures in two years, impacting customer access to services.

Wall Street banks have relaxed drug testing for applicants but still impose restrictions based on impairment and legal requirements.

CFPB dropped significant legal cases, indicating a notable shift in its approach toward financial institutions under the current administration.

Overdraft fees can significantly affect consumers financially; a new rule may cap these fees at $5 for large institutions starting October 2025.

JPMorgan Chase is ending its hybrid work model, requiring all employees to return to the office full-time.

Citigroup supports hybrid work, allowing remote days while competitors push for full return to office.

Legislation proposes enhanced coordination between public and private sectors to combat ransomware attacks in financial institutions.

There is a rise in tax-related phishing scams targeting individuals by impersonating financial institutions and tax agencies during tax season.

FCA's tightened regulations have led to a significant drop in cyber attacks on financial institutions, improving operational resilience.

Complex digital banking interfaces cause user dissatisfaction; poor UX design often blamed for customer complaints.

SMBs anticipate revenue growth, but face challenges like time constraints and supply chain issues. Financial institutions can help by enhancing technology and user experiences.

Organizations need to streamline compliance processes due to the complex challenges posed by PCI DSS 4.0 and increased reliance on cloud computing.

The shift to cloud computing complicates PCI compliance for organizations.

PCI DSS 4.0 requires more streamlined and effective compliance strategies.

Remote work increases complexities in IT environments.