Major Banks Cut Ties with US Regulator After Data Breach

Major Banks Cut Ties with US Regulator After Data Breach
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JPMorgan Chase and BNY Mellon have severed electronic data-sharing ties with the Office of the Comptroller of the Currency (OCC) following a significant security breach. The incident involved unauthorized access to sensitive emails containing confidential financial and investigative data.

  • The OCC's email breach exposed sensitive financial and investigative data, prompting JPMorgan and BNY Mellon to halt electronic data sharing.
  • The incident has been classified as a 'major information security incident' by the OCC, requiring congressional notification.
  • The OCC is working with cybersecurity experts to assess the breach while maintaining secure access for onsite bank examiners.
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