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Cleveland Fed's Mester urges regulators to become more agile on cybersecurity risks
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Cleveland Fed's Mester urges regulators to become more agile on cybersecurity risks
Cleveland Federal Reserve President Loretta Mester said on Thursday that financial firms and regulators should be more agile and share information to better combat cybersecurity threats. Financial firms should be stress-tested to evaluate their ability to handle a cyber attack, Mester recommended according to prepared remarks to be delivered at a conference on financial stability hosted by the Cleveland Fed. Mester also said that financial firms, government agencies and regulators need to collaborate better and share information when it comes to facing cybersecurity risks.
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