OCC Risk Report Cites Cyber and FinTech


The Office of the Comptroller of the Currency yesterday released its Semiannual Risk Perspective for Fall 2016 discussing risks facing national banks and federal savings associations. Other key risk areas include fintech, cybersecurity, anti-money laundering, and the easing underwriting practices.  American Banker breaks down the report, highlighting the “new focus of ‘governance over sales’ as…

Bank of America Creates Data Maps to Prepare for Cyberattack – CIO Journal. – WSJ


Bank of America’s merchant services group, which handles transactions with Visa and MasterCard, requires detailed information, including maps, from third-party partners, said JoAnn Carlton, general counsel for the group, speaking at the conference. Ms. Carlton is prepared to stop working with vendors, suppliers and other partners that won’t assume responsibility for the bank’s data when…