1. Fannie Mae was established in 1938 as a federal charter under President Franklin Roosevelt as a secondary market to expand the flow of mortgage money under any economic condition because millions of Americans could not become homeowners before Fannie Mae. In 1968 Fannie Mae was rechartered by congress as a shareholder owned company, funded solely with private capital raised from investors. The charter is directed to increase the availability and affordability for homeownership for low, moderate, and middle-income families. Fannie Mae purchases home mortgages from banks, guaranteeing them, and then resells them to investors, which helps the banks to eliminate the credit and interest rate risk. (Fannie Mae Case) Fannie…
In today’s computing world, threats come in many different forms. Business and organizations are bombarded with electronic threats every second. Denial of service (DOS), network disruptions, and stealing of confidential information not only hurt businesses, but also hurt customers. With identity theft so prevalent, a business owes its customers the highest level of security possible. Many mechanisms are available protect critical infrastructure and information.…
In 1865 the United States had just concluded the Civil War, and plans of reconstruction of the Union were on the minds of every government official as their first priority, or so it seemed (Phillips 108). Everyone that is except Oakes Ames, a manufacturer, capitalist, and an elected member of the thirty-eighth Congress of the second district of Massachusetts (Brazad 251). After the war anything that would boost patriotism was passed by Congress and a transcontinental railroad was an ideal means by which to bind up the wounded Union (Phillips 107). Ames, in a way to get rich quick and get out, joined a corporation, of which he eventually gained full control, called Credit Mobilier (Wheeler 72). Credit Mobilier Corporation was given monetary and land grants from the government in order to complete the transcontinental railroad. The company took part in complex arrangements in which a several of the partners contracted with themselves for the construction of the railroad. As a result of this scandal, Credit Mobilier stocks paid dividends of three-hundred and forty-eight percent in the first year (Hoops 59). The real scandal took place not in the west, but in the House of Representatives, where Oakes Ames "sold" stock at par value to "where they will do the most good (McPherson 585)." In the investigation of the Credit Mobilier, only two men suffered disciplinary action from the Judiciary committee. However, many who were involved should have been subject to the same indictment for being involved in one of the greatest financial and political scandal of the 19th century.…
During Week 2, our team focused our collaborative discussion on different technologies that businesses can use to prevent security breaches and reduce the risk of cyber-attacks they are increasingly experiencing. To aid in our discussion, team member, Jennifer Ashton, posted an article entitled “The Right Technology Fix Can Help Prevent Breaches”, written by author, Tim Horton. Mr. Horton’s article remarked on the rising number of data breaches, how often they affect small businesses, and measures that organizations can employ to avoid future intrusions.…
The internet is approximately 40 years old and is continuing to grow at a rapid pace. This rapid growth and use of the internet for practically everything you can do in life has also cause a major increase in threats. Cyber-criminals are often breaking into security on many major websites and making the news. Information Security is turning into an important part in protect a business’s information.…
There has been an increase in global technology over the past few years. The increase in technology allows us to have access to many things from almost anywhere, such as the Internet. People can find information right at their fingertips faster and easier than ever before. However, with this increase in technology comes an increase in cybercrime.…
The internet and other information services have made almost any information obtainable at the click of a button. This has also made the world a much less secure place when it comes to protecting one’s work. It has also compromised the security of bank accounts and fund transfers of those who use the internet for purchases, banking, or use other automated machines. Due to these security issues two information technology acts were created to protect the people. First, the Electronic Fund Transfer Act (EFTA) was created in 1978. Then, the No Electronic Theft (NET) Act was created in 1997.…
Over the past twenty years, the Internet’s role in our lives has grown to an everyday necessity. We rely on the Internet to communicate within the scope of our employment and social lives, to conduct our banking and bill paying, we even use it to track our personal property. There is hardly one area of our lives that we can not conduct over the Internet. While the Internet is a convenience that has made our lives easier, it has also opened the door in our lives to a vulnerability that is rapidly being exploited by cyber criminals. Cyber crimes are growing at an exponential rate in the United States and we, the consumers/end users are unaware of the liabilities a simple click on the wrong button can cause. This paper will address the current cybersecurity policy issues for the protection of the Internet infrastructure and recommend new policies that will address the liability for malicious traffic traversing the Internet from the End Users.…
Securing and protecting information has become increasingly far more difficult and complex then what is has been in the past. As the amount of internet users and new devices that use the internet continue to become more common, new methods and users trying to steal information will continue to advance as well. Just this year we have seen large companies, corporations, and banking institutions which some were thought to be very secure have been broken into. Hackers continue to develop new ways to steal private information and develop these tools with increased simplicity. Hackers use different methods in breaching the security of the companies they target. These methods have increasingly become increasingly more complex and difficult to detect with tools and programs that are developed to detect attacks and intrusions. With the increasing amount of security threats, new ideas and methods continue to be developed to prevent further attacks. Among these methods is security authentication, protection and prevention.…
This proposal discusses the scandal that occurred with Wells Fargo Financial Services Company. Provides banking, investments, insurance, consumer and commercial finance along with mortgages. The scandal started to get investigated in 2011. The Wells Fargo account fraud scandal is a corruption scandal that was very controversial because there were literally millions of fraudulent bank accounts that were created on behalf of Wells Fargo employees. These accounts were created without the consent of the Wells Fargo customers. This led to huge profits for the banking and financial giant Wells Fargo but it hurt customers by dropping their credit scores and even accumulating fees that they were not even aware of at times. This was truly an in justice to the customers of Wells Fargo.…
After the colossal Equifax data breach, should CEO Richard F. Smith be put in jail? According to NBC, the breach affected up to 143 million people. This is nearly half the population of the United States. The breach revealed credit card numbers, social security numbers, addresses, and other information. NBC also stated the breach did not just affect Equifax customers meaning everyone should be cautious. These and other reasons are why individuals believe Richard F. Smith should be jailed. Richard, however, should not be sent to jail. One reason why he should not be is because breaches are almost destined to happen. You do not know if it is tomorrow or in thirty years, but someone’s data network will eventually be breached. Going along with…
Global technology is on the rise and being used by many on a daily basis. Companies all around the world are using technology, as well as individuals for personal use. With the rise of global technology comes the increase of cyber crimes and cyber-related threats. With so much personal information available online criminals are finding it easier than ever to access it.…
But with all the good that comes from information technology there is also bad. The internet has also become a gateway for hackers to wreak havoc. In a nutshell, cyber-crime has become a headache in the 21st century because one individual can remotely attack any online system from any corner of the world crippling many economic developments. Even before the federal government can come up with effective ways of protecting its citizen from cyber-crime vulnerability, a new problem which can bring about devastating effects of equal measure has emerged. One such problem is the vulnerability of the nation’s power grid. The government had turned all of its attention to measures of countering cyber terrorism to an extent that it forgot that physical attacks on sources of power, which run these systems, could also bring equally devastating effects (Besanger et al 2013).…
In today’s digital world, most Americans leave long electronic trails of private information wherever they go. But too often, that data is compromised. When they shop—whether online or at brick and mortar stores—retailers gain access to their credit card numbers. Medical institutions maintain patient records, which are increasingly electronic. Corporations store copious customer lists and employee Social Security numbers. These types of data frequently get loose. Hackers gain entry to improperly protected networks, thieves steal employee laptops or disgruntled workers pilfer company information.…
Data breach has always been a sensitive topic, let alone when the data breach is related to banking. In the mean time, there’s a breach was found happened to the online banking system of the competitive bank of First Union Bank, and the hacker had stolen quantities of customers’ personal information and data. It has been an alarm for all the banks, it reminds the whole society to be alert of the damage caused by the data breach.…