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I am surprised financial institutions don't have any regulation for redundancy. The one that stuck out to me is the Navy Federal Credit Union website being down
by knaik94 5y ago
I am surprised financial institutions don't have any regulation for redundancy. The one that stuck out to me is the Navy Federal Credit Union website being down. I have not had any issues logging into mobile though for some of the reported sites.
- christophilus 5y agoI'm not sure how easy it would be to regulate. But yeah. I've got a few short term trades in my brokerage account, and outages really throw a wrench into those.
- xyzzy21 5y agoThe way regulate is like anything else: if they fail to meet QoS uptimes, they get fined in 6-8 figures for every minute of loss.
- brentm 5y agoCapitalOne has a broken login which is pretty surprising to me.
- toomuchtodo 5y agoCommercial banks are held to a different operational resiliency standard than financial infrastructure. (a component of my consulting work is reporting to financial regulators for institutions)
- cryptoz 5y agoAll major Canadian banks were down.
- deckard1 5y agothis is prime shit Hacker News says right here. Wait until you learn banks close on Sunday. Or have maintenance windows for their website, ATM, etc.
- Terretta 5y ago> financial institutions don't have any regulation for redundancy As CTO of a bank, I wasn’t aware of this. So either we wasted a ton of money and time constantly upgrading redundancy and business continuity technologies to satisfy our regulators… or this statement could be mistaken.