U.S. Treasury Fines Bank $80M

Information of 106 million users hacked through data breach.

This week the U.S. Department of the Treasury fined banking company Capital One $80 million in the wake of a massive hack on their system in 2019. The Comptroller of the Currency wrote in the order that Capital One had not addressed numerous weaknesses when they transferred to a cloud-based information service in 2015.

The order further emphasized the Office of the Comptroller’s displeasure with the bank’s conduct both before and after the hack took place, saying that the company “engaged in unsafe or unsound practices that were part of a pattern of misconduct.” This security breach of 106 million of the bank’s credit card holders is one of the largest on record.

As the Lord Leads, Pray with Us…

  • For the Department of the Treasury as they work to protect the financial information of American citizens.
  • For President Trump as he takes financial privacy into account as he leads the country.
  • That U.S. banks would be compelled to do the right thing by the government, for the sake of the people.

Sources: Associated Press


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