Regulators Want to Strengthen Banks

Federal regulators are looking to set up new standards for big banks’ planning and testing for possible cyber attacks. The aim is to bolster the banking industry’s defenses amid concern over periodic security breaches at U.S. banks.

The move announced Wednesday by the Federal Reserve, the Federal Deposit Insurance Corp. and a Treasury Department banking agency is designed to get banks’ senior executives and directors to pay closer attention to cyber-security, agency officials said.

Posted by Claims Journal

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