Recent developments in the U.S. banking sector have heightened concerns, especially with news of a significant data breach affecting major banks.

Despite being one of the world’s most advanced economies, the U.S. has faced several financial troubles, including the collapse of multiple banks and high-profile fraud cases.

TD Bank and Summit National Bank are the latest institutions to report a serious data breach. This breach, which affected thousands of customers, came to light when both banks contacted the Maine Attorney General’s Office. The breach is believed to have occurred between the third quarter of 2023 and the second quarter of 2024.

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