Bank cyber attacks prompt Fed to prepare new safeguards

  Image Source: Google Images

Image Source: Google Images

US regulators plan to require banks to adopt baseline safeguards to shield themselves from cyberthreats after a series of assaults cost the industry billions of dollars and shook consumer confidence, people with knowledge of the matter said.

The Federal Reserve is leading other agencies in crafting the protections, which would be minimum standards, said the people who asked not to be named because work on the measures isn’t public. 

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