U.S. banking regulator fines Capital One $80 million for technological shortcomings
In this article:
WASHINGTON, Aug 6 (Reuters) - A leading U.S. bank regulator fined Capital One $80 million for failing to adequately manage risk as it moved some technological operations to the cloud.
The Office of the Comptroller of the Currency said in a statement the bank failed to identify flaws in its risk management system as it moved significant information technology operations to the public cloud, and then failed to fix those shortcomings quickly once they were identified. (Reporting by Pete Schroeder Editing by Chris Reese)
