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Data breach. The Consumer Financial Protection Bureau (CFPB) experienced a significant security breach when a former employee transferred confidential information on approximately 256,000 consumers and forty-five financial institutions to their personal email account. [3] [4] The unauthorized transfer involved data from seven firms, though the ...
The Equifax data breach occurred between May and July 2017 at the American credit bureau Equifax. Private records of 147.9 million Americans along with 15.2 million British citizens and about 19,000 Canadian citizens were compromised in the breach, making it one of the largest cybercrimes related to identity theft.
The CFPB promotes fair practice by regulating consumer interactions with financial institutions. It has complete authority over institutions that do not hold consumer deposits. [ 12 ] For institutions that hold consumer deposits with $10 million or less in assets, the CFPB only has rule making authority, as authority over enforcement remains ...
Multiple banks have begun eliminating or reducing junk and non-sufficient fund fees, the CFPB said. The CFPB estimated that these changes would result in $5.5 billion in annual fee savings for ...
The Consumer Financial Protection Bureau (CFPB) is considering new rules to crack down on data brokers amid a wider push to reduce risks from the rapidly expanding capabilities of artificial ...
There were 3,205 publicly reported data breaches impacting around 353 million people in 2023, according to the Identity Theft Resource Center. That’s a 72% increase over the past high, in 2021.
This is a list of reports about data breaches, using data compiled from various sources, including press reports, government news releases, and mainstream news articles. The list includes those involving the theft or compromise of 30,000 or more records, although many smaller breaches occur continually. Breaches of large organizations where the ...
BloombergSteven Antonakes, acting deputy director of the Consumer Financial Protection Bureau. At a hearing on Tuesday before the House Financial Services Committee, a top official from the ...
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