Capital One to Pay $80 Million Penalty Over Hack in OCC Accord

Capital One Financial Corp. agreed to pay $80 million in penalties and improve its cybersecurity practices to resolve probes into last year’s hack that exposed personal financial information on more than 100 million Americans.

Capital One’s board of directors will be required to establish a compliance committee by the end of the month with at least three members who aren’t officers of the bank. The lender will also have to craft plans that document the expected and potential threats created from using technology, according to orders from the Office of the Comptroller of the Currency and the Federal Reserve.

“Safeguarding ...