I find it hard to believe that a company line JP Morgan, the largest bank in the US can't afford to put enough computing power to reduce this overhead..... at $6 billion in profit in just the 2nd quarter alone I think they could afford to invest a couple of million dollars to make sure their customers' data is better secured.
Lets think about this.... if they can spend maybe $10 million to be able to say to their customers... "We had a breach but your personal data was encrypted with the latest technology and is safe" vs "We had a data breach and 76 million house holds now have personally identifiable information up for sale across the black market."
Do you think that the goodwill from the first statement would save them $10 million? My bet is that a bank actually being able to say that a breach was a non issue because they had actually taken all possible measures to protect your data with them because they actually might care about their customers just a tiny bit would easily drive them in a positive direction both in the short term and the long term.
