Capital One fined $80M by regulators over 2019 data breach, agrees to improvements

Capital One Financial Corp (NYSE: COF) will pay an $80 million fine and enter into a consent order with its regulator, the Office of the Comptroller of the Currency, over issues related to a data breach in 2019 that exposed more than 106 million records of customers and credit card applicants. Capital One said at the time that the breach happened due to “a specific configuration vulnerability” that had since been fixed. The OCC found that the bank failed to establish effective risk assessment…