While three-quarters of U.S. small businesses want to receive financial advice from their bank, most do not receive the kind of comprehensive advice that would help a small business grow, according to a recent study from J.D. Power.
National homebuilder and apartment developer Toll Brothers announced it’s secured financing to build a 355-unit multifamily rental complex in an area of class B office buildings just north of downtown Stamford.
Banks earned an estimated $15 billion from overdraft fees in 2019, and smaller institutions brought in almost as much income per account as large banks, according to research from the Consumer Financial Protection Bureau.
Small businesses reported more satisfaction with banks during the pandemic compared to previous years, according to a recent J.D. Power survey, but the size of the business and success with the Paycheck Protection Program affected satisfaction.
The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.
A former Amazon software engineer arrested last month on charges she hacked into Capital One bank and more than 30 different companies has been indicted by a federal grand jury on charges she not only broke into the company’s computer system, but also stole computing power for her own benefit.
Data breaches through hacking attacks are distressingly common these days, and personal details about victims can lead to identity theft, such as credit cards and loans in a victim’s name. But it’s hard to pin the blame on any specific hack, as the most sophisticated criminals combine data from multiple attacks to better impersonate their targets.
A security breach at Capital One Financial, one of the nation’s largest issuers of credit cards, compromised the personal information of about 106 million people, and in some cases the hacker obtained Social Security and bank account numbers.
About 54,000 mortgage borrowers recently had their financial data exposed to identity thieves trolling around on the Internet. Borrowers had no hint that they were vulnerable, and many may still not know that a breach occurred.
Capital One Financial will stop issuing mortgage and home equity loans and cut some 1,100 jobs amid rising interest rates that have pushed away borrowers and slowed loan growth at many U.S. regional banks.
