(Bloomberg) -- Hackers who relentlessly pursue banks may run into tougher defenses as the Federal Reserve and other U.S. regulators force the biggest lenders to plug any vulnerabilities.
Banking agencies released a proposal Wednesday for rules that would require lenders -- and the outside firms that serve them -- to better safeguard themselves and their customers. Banks with more than $50 billion in assets and other systemically significant firms would have to establish board-approved protections that make them more aware of what’s happening in their own systems. The proposal also aims to keep successful cyber attacks from spreading damage through the broader financial sector.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access