The CFPB released an FAQ about applying Truth in Lending regulation to buy now, pay later products, such as how to apply credit card periodic statement requirements to pay-in-four BNPL products that are accessed by digital user accounts.
Banks and credit unions can be held legally liable if there is no proof that they obtained affirmative consent from customers before charging overdraft service fees for ATM and debit card transactions, the CFPB said in a circular...
Most U.S. consumers with an opinion on debit card interchange fees agree the fees are necessary for fraud prevention efforts, according to a new survey by Morning Consult and the Bank Policy Institute.
Fraud is front and center for America's banks. Paul Benda and Peter Cook discuss several recent initiatives taken by ABA to help banks tackle fraud.
SPONSORED CONTENT PRESENTED BY NACHA Fraud prevention and funds recovery are critical priorities for all financial institutions. The latest Nacha Rules, set to begin taking effect on Oct. 1, 2024, are intended to improve funds recovery between financial...
Cryptocurrency-related fraud resulted in more than $5.6 billion in losses in 2023, representing a 45% increase from the previous year, the FBI said in a new report.
