Wall Street teams up to help save client data in cyberattack

A Wall St sign hangs on a post outside of the New York Stock Exchange (NYSE) in New York, U.S., July 5, 2016. REUTERS/Lucas Jackson

On Wall Street, backing up data now comes with a code name. 

Nearly three dozen banks are leading a group called Sheltered Harbor that’s designed to protect consumers’ access to their data in the event a financial institution is hacked. Banks, credit unions and brokerages representing 400 million accounts – or 70% of US retail accounts and 60% of US brokerage accounts – have signed up to be part of the effort, which went live earlier this year.