FDIC Updating Cyber Security Policies After Data Breach

The U.S. Federal Deposit Insurance Corporation is updating cyber security policies after a 2015 data breach in which a former employee kept copies of sensitive information on how banks would handle bankruptcy, the regulator's chief said. FDIC Chairman Martin Gruenberg also said he made personnel changes after receiving a report in 2013 informing him that he had not been fully briefed about the major compromise of the regulator's computers by a foreign government in 2010 and 2011.