US bank places trust in ransomware crew that promised to delete its data Would you trust a ransomware extortionist to delete the data they stole? One bank certainly wants you to. Well over a month into a ransomware cleanup job, River Financial Corporation tells regulators that it “took steps to attempt to suppress the affected data, including obtaining representations from the threat actor that it …
In these days of Libor-rigging globally-evil global banks it's nice to find a small trusting organisation like this that operates on the 'pinky swear' system.
I hope the CEO is called George Bailey and can explain that it's not the bank's data, it's the whole community's data
The title to this article has a bit of an issue. US Bank (NYSB:USB) and River Financial Corporation (OTCMKTS: RVRF) are two very different, unrelated companies. By using the name of US Bank to refer to River Financial, even inadvertently, people will get confused, and lawyers are likely to generate a few pages of correspondence and leave a few pockets lighter.
Had to look it up as I agree with the grandparent, calling yourself US Bank would get a lawyer up in your business. It is called River Bank, not US Bank. It was the Reg that was using the generic US Bank as in a bank in the US. Name of the bank is River Bank & Trust,
River Financial Corporation operates as the bank holding company for River Bank & Trust. It serves Alabama and Florida, which given their ineptness does seem appropriate.
Agreed. But I wish the author would stop using the abysmal business-jargon 'per', as in "River has not yet completed its investigation, per its most recent filing." What's wrong with "According to "? Going forward, on an agile basis, I suspect I'm going to end up getting more downvotes than that "wine and steak" commentard.
The company's issue can soon become someone else's issue when a trademark lawyer gets involved. You can argue that it's down to that company's poor choice of name, but that won't help if they cared enough to make a legal case of it. Since this is just a headline and the article clears up the specific bank, it would probably be a complaint that El Reg could win, but if it got that far, it would be a pyrrhic victory.
US BANK is the trade name of U.S.BANCORP (Stock Symbol USB on the NY Stock Exchange).
It owns many Banks, and it was way back related to U.S. National Bank of Oregon, First Bank of Minneapolis, First Bank of St. Paul. It bought ought a plethora of other banks, and
somehow it got the Idea that US BANK was an easy to remember Bank Name. But the generic concept, such as the concept that one must have an account at a US Bank, meaning ANY BANK LOCATED IN THE USA, to receive any number of payments in US Dollars ( Paychecks, Social Security Payments, Supplementary Security, Unemployment, and other benefits caused some confusion among
the people of the US. So, is U.S. BANCORP a.k.a US BANK a US Bank located in the USA ? Yes, it is. But any old bank will do in the United States, as long as it is in in a State of the USA.
If you wanna read all about it, go to https://en.wikipedia.org/wiki/U.S._Bancorp
Meanwhile, here is another true fairytale from the USA banking history:
There was once a Fifth Bank in the US, and then there also was a Third Bank in the US.
In short the Fifth Bank bought out the Third Bank.
What was the new name: Well, FIFTH THIRD BANK of course. Does it still exist? YES.
Do I know why they could not decide on a less confusing name? NO!
Happy banking!
PS: You make me feel like BANKING!! Banking, banking, bank the night away!
Well, I am not a lawyer, but I could play one on TV.
So, I must object to your insinuation that this or that American Bank invested in the Dutch Tulip Mania.
Because, look, the US started only in 1776, so no US Bank could have received a their charter before that.
Before that it was just a British colony
The Tulip Mania happened between the years 1634 and 1639, so it must have been
British, French, Dutch, German, Russian, Spanish, Italian banks.... who lost a pile of money in Tulip investments.
I will now tip toe away thru the Tulips!
