Sumary of Cybersecurity is top issue for bankers, but not for lawmakers:
- Exhibit A, they say, was a May 27 House Financial Services Committee hearing with the CEOs of the six largest banks..
- He noted there also is action at the state level with the Conference of State Bank Supervisors issuing an updated cybersecurity exam tool in February to assess nonbanks..
- Yet large banks routinely perform extensive vulnerability scans and penetration testing, two practices that analyze IT systems for vulnerabilities, according to a March report by Moody’s Investors Service abut banks’ cybersecurity strengths..
- Small and medium-sized banks tend to be more vulnerable because they have less to invest in updated systems, experts said…