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Another 100M Consumers at Risk from Capital One Data Breach

WASHINGTON INFORMER — A second major disclosure of major consumer data breach was announced on July 29 by Capital One Bank. That same day, the FBI arrested a suspect was charged with stealing the personal information on March 22 and 23. The apparent focus of the financial theft was credit card applications filed with the bank between 2005-2019.

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Charlene Crowell, Special to The Informer

A second major disclosure of major consumer data breach was announced on July 29 by Capital One Bank. That same day, the FBI arrested a suspect was charged with stealing the personal information on March 22 and 23. The apparent focus of the financial theft was credit card applications filed with the bank between 2005-2019.

Those most vulnerable are two types of consumers: small businesses whose company credit card applications included personal Social Security numbers, and other customers who linked ‘secured’ credit cards to other accounts

For these two developments to occur on the same day, suggests a tacit agreement between one of the nation’s 10 largest banks and the country’s top law enforcement agency.

But why did it take four months for consumers to learn their personal data has been at risk?

Ranked number 145 on the Fortune 500 company list, Capital One has 45 million customers in the states of Louisiana, Maryland, New Jersey, New York, Texas, Virginia and the District of Columbia. In the second quarter of this year, the bank reported net income of $1.6 billion.

According to the bank, the data breach affects approximately 100 million consumers in this country and additionally 6 million Canadians. An estimated 140,000 Social Security numbers used for credit card applications and another 80,000 bank account numbers all place affected consumers in financial jeopardy.

“I sincerely apologize for the understandable worry this incident must be causing those affected and I am committed to making it right,” said Richard Fairbank, Capital One’s CEO. The bank has also pledged to provide affected customers with free credit monitoring and identity.

For consumer advocates, however, Capital One’s mea culpa was too little, and much too late.

“I wouldn’t say that consumers can or should “breathe a sigh of relief,” cautioned Aracely Panameño, the Center for Responsible Lending’s Director of Latino Affairs. “The latest data breach speaks to the lax cybersecurity systems currently in place at major financial institutions and national credit reporting agencies (NCRAs).”

Equifax, one of three NCRAs, waited two months to disclose its cybersecurity breach that occurred in July but was kept from the public until September that year. During that delay, 147 million unsuspecting consumers – the equivalent of 58% of the US adult population — did not know that their personal data – including federal income tax records, as well as employee records for government employees and those of Fortune 500 firms – was at risk. Nor did recipients of major government programs like Medicare, Medicaid, and Social Security learn that they too were affected.

In response to Equifax’s massive cybercrime, a surge of 50 federal class action lawsuits were filed in at least 14 states and the District of Columbia in September 2017, following the public disclosure.

“This settlement is a slap on the wrist of Equifax,” Panameño said. “The restitution fund is up to $425M, which is equivalent to $2.89 per impacted consumer (147M); the initial restitution fund is only $300M. The average monthly cost for credit monitoring is $20. These 147 American consumers will have to worry about identity theft and financial fraud in perpetuity. Yet under the settlement agreement, consumers must request benefits by January 22, 2020.”

Similar reactions came from other consumer advocates.

“It’s disappointing but not unexpected that consumers face yet another breach of our sensitive financial information,” said Chi Chi Wu, staff attorney at the National Consumer Law Center (NCLC). “People should take the most effective measure to prevent identity theft involving new credit accounts by freezing their credit reports. It’s free as a result of a new law last year.”

According to NCLC, credit card customers are not liable for any unauthorized use of over $50. By contrast, consumers with bank accounts in most cases are not liable for unauthorized debit card or other electronic transactions so long as the fraudulent transaction are reported within 60 days of receiving their bank statement. Further, lost or stolen debit cards must be reported within two business day of learning of the loss or theft.

For Ed Mierzwinski, U.S. PIRG’s Federal Consumer Program senior director, answers to consumer questions were also a key concern.

“How did this happen?” Mierzwinski asked. “And how is Capital One going to prevent future breaches? We need answers to ensure that increasingly frequent, large breaches such as this, Equifax and others don’t become the new norm.”

Neither America, Canada the United Kingdom, or any other nation needs or wants yet another financial breach. Only time and additional investigations will reveal just how many more consumers may be affected by these or other delayed announcements.

“The hackers made out with all the data needed to wreak havoc in the lives of 147 million American consumers for the rest of their lives,” Panameño said. “They need remedies that are commensurate with that risk.”

Charlene Crowell is the Center for Responsible Lending’s Communications deputy director. She can be reached at charlene.crowell@responsiblelending.org..

This post originally appeared in The Washington Informer.

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OP-ED – Reimagining America: Biden is Not the Only Way Democrats Can Win

NNPA NEWSWIRE: We need a leader who understands the struggles of everyday Americans and has the vision and stamina to lead for the next eight years. Vice President Kamala Harris embodies these qualities.
The post OP-ED – Reimagining America: Biden is Not the Only Way Democrats Can Win first appeared on BlackPressUSA.

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By Rep. Ron Reynolds

After last week’s highly anticipated debate, I couldn’t shake a deep sense of unease. I watched the debate in its entirety, and I was deeply disturbed. I didn’t want to react out of frustration or emotion, so I took a night to reflect. The next day, my disappointment had not subsided. As a Biden DNC National Delegate, I firmly believe we need to make significant changes.

It’s time to replace President Biden at the convention and nominate Vice President Kamala Harris. This isn’t a cavalier statement; it’s one I stand by. I welcome debate and criticism, but my primary goal is clear: we must defeat Trump and the MAGA movement for the future of all Americans.

Recently, I have been criticized and even threatened with censure for expressing my belief that the Democratic Party might fare better against Trump with a new nominee. This perspective was formed long before recent public opinion polls supported my concerns. To be clear, I will continue to support President Biden if he remains our nominee. Nonetheless, I will persist in making good trouble, fighting, and speaking truth to power.

Democrats claim to support free speech but then criticize each other for speaking their minds. This kind of internal conflict plays right into the hands of Republicans, who benefit from our division. To truly stand united, Democrats must encourage open dialogue and respect differing opinions within our party.

Our nation faces unprecedented challenges that require fresh, dynamic leadership. To meet these challenges head-on, the Democratic Party must embrace innovation and diversity. We need a leader who understands the struggles of everyday Americans and has the vision and stamina to lead for the next eight years. Vice President Kamala Harris embodies these qualities.

The Democratic Party prides itself on being a party of inclusion, representing a broad coalition of people from all walks of life. Yet, our leadership doesn’t always reflect this diversity. It’s time for a change!

We need leaders who reflect the realities of America today and understand our unique challenges—those who can garner a wide base of supporters. Kamala Harris has a proven track record of fighting for justice and equality. She knows how to build coalitions that include people of all races, genders, and backgrounds. She can energize young voters, women, and people of color—voters crucial to our success.

Innovation is not only about who leads but also how we lead. The Democratic Party must adopt new strategies and technologies to effectively engage voters. We need to leverage social media, data analytics, and grassroots organizing to build a movement capable of countering the well-funded forces of the right. We must engage voters on the issues that matter most to them, from healthcare and education to climate change and economic inequality.

Moreover, we need leaders willing to take bold stands on critical issues. We need leaders who will fight for a living wage, affordable healthcare, and comprehensive immigration reform. Leaders who will stand up to special interests and prioritize the common good. We need leaders who will advocate for peace and stability globally, calling for ceasefires in conflict zones and working towards lasting solutions.

The Democratic Party has a proud history of innovation and progress, from FDR’s New Deal to Obama’s Affordable Care Act. It’s time to renew that legacy. We need leaders who reflect our multicultural society, embrace innovation, and fight for a brighter future, not the status quo.

America deserves better than the status quo. We need leaders who can inspire and unite us. This is our moment to infuse new energy and vision into our party and country. Let’s nominate a leader who can lead us to victory with the passion and dedication that our great nation requires. It’s time for a change, and I firmly believe Vice President Kamala Harris is the leader we need.

Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of BlackPressUSA.com or the National Newspaper Publishers Association.

 

The post OP-ED – Reimagining America: Biden is Not the Only Way Democrats Can Win first appeared on BlackPressUSA.

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Celebrate America’s Birthday by Thanking Those Who Teach Our Youngest Learners

NNPA NEWSWIRE — The CDA Credential is the most widely recognized credential in early childhood education and it’s a key steppingstone on the path of career advancement in the sector. The CDA is based on a core set of competency standards that guide early childhood professionals toward becoming qualified educators of young children.
The post Celebrate America’s Birthday by Thanking Those Who Teach Our Youngest Learners first appeared on BlackPressUSA.

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Andrew Davis, Chief Operating Officer, Council for Professional Recognition

As we mark America’s Independence Day, I’m reflecting on the role education played in my family’s journey to this incredible country and the educators who helped make it happen. I was born in Antigua in the Caribbean, where my father’s family had lived for many generations. They coped with extreme poverty and many challenges — my grandmother was blind, for instance. Yet, from a very early age, teachers pushed my father to fulfill his potential. Their encouragement led him to attend university in Barbados and eventually earn his doctorate at the University of Sussex in England. Later, we settled in the United States, where my dad is a professor at Howard University in Washington, D.C.

Each step of the way, a mentor encouraged him to keep growing and expanding his mind. Their support not only changed his life but also paved the way for future generations of our family. I was so excited to spend time recently with about 150 students at Florida International University in Miami who completed their Child Development Associate (CDA) Credential coursework through the Professional Development Institute at the Early Learning Coalition of Miami-Dade/Monroe. Through articulation agreements with higher education institutions in Florida, these students can receive college credits toward an associate or bachelor’s degree in early childhood education.

Davis (left) met with education leaders and supporters who helped students complete their Child Development Associate (CDA) Credential coursework through the Professional Development Institute at the Early Learning Coalition of Miami-Dade/Monroe.

Davis (left) met with education leaders and supporters who helped students complete their Child Development Associate (CDA) Credential coursework through the Professional Development Institute at the Early Learning Coalition of Miami-Dade/Monroe.

The CDA Credential is the most widely recognized credential in early childhood education and it’s a key steppingstone on the path of career advancement in the sector. The CDA is based on a core set of competency standards that guide early childhood professionals toward becoming qualified educators of young children. Our nonprofit, the Council for Professional Recognition, works to ensure that the nationally transferable CDA is a credible and valid credential, recognized by the profession as a vital part of professional development. CDA educators know how to put the CDA Competency Standards into practice and have an understanding of why those standards help children move with success from one developmental stage to another. Put simply, CDA educators know how to nurture the emotional, physical, intellectual, and social development of children.

It was an honor to recognize and celebrate these scholars, who participated in 120 hours of instruction and at least 480 hours of on-the-job training. They also compiled a professional portfolio and created a center-based capstone project. At the graduation ceremony, I told these students that they should feel proud of their achievements and be empowered to become advocates for early childhood education. I emphasized the importance of cultivating resilience in the face of challenges and embracing lifelong learning. That lifelong learning can include earning additional degrees as well as serving as CDA Professional Development Specialists, who use their expertise to assess CDA candidates’ competencies and facilitate reflective conversations with candidates for the credential.

Most importantly, the CDA scholars I met in Miami and other ceremonies this year are now serving as early childhood educators in communities across the U.S. They’re professionals who support safe and healthy learning environments, provide positive guidance, successfully engage, and interact with families and contribute to ensuring an early learning program is well run. I know their work will pay off. Years ago, my dad’s teachers had no way of imagining where their influence would lead. Indeed, when I look up to the sky on the Fourth to watch the fireworks, I’ll keep in mind the educators who help their students reach higher and higher for spectacular results and the bright futures they create.

The post Celebrate America’s Birthday by Thanking Those Who Teach Our Youngest Learners first appeared on BlackPressUSA.

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LIVE! : Make it Plain at the White House

NNPA NEWSWIRE — Rev. Mark Thompson interviews Deputy Treasury Secretary Wally Adeyemo LIVE from the White House.
The post LIVE! : Make it Plain at the White House first appeared on BlackPressUSA.

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[This post contains video, click to play]

Rev. Mark Thompson interviews Deputy Treasury Secretary Wally Adeyemo LIVE from the White House.

The post LIVE! : Make it Plain at the White House first appeared on BlackPressUSA.

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