San Francisco-based Patelco Credit Union confirms its service outage was the result of ransomware and has pulled systems offline.
Patelco's troubles began on Saturday – nightmare timing for security teams – and was initially only referred to as a"serious security incident." For those who have recently taken out loans with Patelco or are applying for one, there isn't much good news. Loan payments can't be made available until all of this is over, and there is no way for the bank to determine the status of a loan application.
Patelco cards are still working for"most" transactions up to $1,000, it said, and ATM withdrawals are capped at $500 while the rebuild continues.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: