How a ransomware attack targeted 10 banks; why bank M&A could pick up
The latest ransomware attacks on banks and government agencies do not represent a systemic risk, according to Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency. Photo: Aaron M. Sprecher/Bloomberg

How a ransomware attack targeted 10 banks; why bank M&A could pick up

10 banks alleged victims of ransomware attacks on file transfer software: Ransomware gang Cl0p is currently threatening 50 companies with releasing data it stole from them late last month.

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2023 bank M&A is mired in a slump. Here's why that could change: Through May, there were 32 U.S. bank mergers and acquisitions announced, fewer than half of the 66 deals announced over the same span of 2022. But analysts say higher costs and more regulation could spur consolidation.

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Gruenberg: Basel proposal is imminent, could cover more mid-sized banks: Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.

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Does a federal court ruling threaten the future of decentralized finance? A judge ruled this month that a decentralized autonomous organization, or DAO, can be held liable for violating commodity exchange rules. That squashes the notion that the decentralized trading model is enforcement-proof.

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Plaid leans on banks, fintechs to create a stolen-identity database: In its ongoing quest to diversify beyond bank account data-aggregation, Plaid aims to help fintechs and banks to block fraud by sharing data about stolen consumer identities via a fee-based consortium called Beacon.

Ken Chapman

Head of US at XDC | Algorithmic Investing & Private Equity | Digital Assets | Tokenization | DeFi | Crypto | Venture | US Army Veteran

1 年
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CHESTER SWANSON SR.

Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer

1 年

Thanks for posting.

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