U.S. regulators on Wednesday told banks to develop programs to quickly warn federal officials and customers of suspected cases of identity theft, a growing type of fraud that costs consumers billions.
The Federal Reserve Board of Governors joined other thrift regulators in demanding greater vigilance and quick action, following a flurry of recent announcements from banks and data companies that customer data had been stolen or lost.
For this complete story, please visit Fed Orders U.S. Banks to Guard Against ID Theft.
