Sheila Bair says no bank is too big to fail. In a speech on Monday the Federal Deposit Insurance Corp. (FDIC) Chair says she's looking for authority to close "systemically important" banks and expand the powers the FDIC already has to unwind some of the weakened commercial banks.
Her comments came on the same day...
Survey Results - banking technology executives reveal their institution's application security priorities heading into 2009
In a down economy application security is both a necessity and a competitive differentiator. Yet in a recent BankInfoSecurity.com survey, respondents showed that they had no reason for...
Five more financial institutions failed last Friday and were taken over by federal banking regulators.
One credit union in Florida was placed into conservatorship, and four banks - one each in Georgia, Michigan, Idaho and California -- were closed. This brings the total now to 29 banks that have failed and five...
As the swine flu outbreak triggers new fears of a global pandemic, security organizations must dust off and review their emergency management plans. For insight on how to prepare for swine flu, pandemic expert Regina Phelps offers expert insight on:
What you need to know about swine flu;
How your organization...
I'd like to think we saved the best for last.
This past Friday, as the annual RSA Conference concluded, I presented the results of our annual Banking Information Security Today survey to a surprisingly packed house of banking/security leaders, regulators, consultants and vendors.
Regina Phelps, in a podcast interview, offers advice on how your organization should respond to a potential swine flu pandemic as well as where to watch for updates over the next few days.
President Barack Obama, fulfilling a campaign pledge, brought credit card company executives to the White House to talk about changing their ways. Lending practices of American credit card companies have triggered adverse reactions from consumers hit with high fees and interest rates.
Obama's efforts are in tandem...
Sun Trust, a Southern banking corporation, ($179 billion in assets) mailed its Florida customers letters this week regarding SunTrust bank cards that were compromised in the Heartland Payment Systems breach that was first made public on January 20. The bank has 551 branches in the state and a total of 1,694 branches...
Federal regulators on Friday began informing the 19 largest financial institutions on how they performed in stress tests they underwent over the past month to appraise their financial fitness. Initially, regulators provided the banks with details on how the assessments were made, and privately revealed preliminary...
The first federal CTO thinks the new federal CTO also could serve as the federal cybersecurity czar.
Norm Lorentz served as the federal chief technology officer in 2002 and 2003, working within the White House Office of Management and Budget. In that job, Lorentz focused on developing the federal IT enterprise...
I'll admit that even though we're in the "age of digital," IPODS, Flip cams, and satellite radio, I still find some comfort in good ol' radio. I'm somewhat of a news junkie, and so naturally AM is my choice. Sure, I'll turn on the conservative guys for a few laughs every now and then, but most often I have the dial...
Secretary Timothy Geithner, ahead of the G-7 economic submit later this week, says economies around the globe need to work together to lay the foundation for a sound future.
Geithner acknowledged that the U.S. has a responsibility and shares part of the blame for the current economic crisis, but says countries need...
Credit card legislation to crack down on interest rates and fees cleared a key House panel Wednesday, the day before President Obama meets with 14 executives from the largest credit card companies. The bill, approved by the House Financial Services Committee, would limit increases on credit card interest rates and...
The White House cybersecurity advisor's speech was more warmly greeted 2,800 miles away inside the Beltway than the cool reception it got Wednesday before the RSA Conference at San Francisco's Moscone Center.
She did a Geithner.
In making her first public appearance since delivering her long-awaited cybersecurity review to President Obama last week, Melissa Hathaway took to the stage at the RSA Conference in San Francisco on Wednesday. And she did exactly what Treasury Secretary Timothy Geithner was criticized for when...
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