ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Compliance and Risk

FTC warns consumers about college tuition billing scam

September 3, 2024
Reading Time: 1 min read
FTC warns consumers about college tuition billing scam

Phone calls to college students and parents demanding immediate payment for tuition are scams that seek to trick victims into turning over their bank account information or making fraudulent payments, the Federal Trade Commission warned in a new consumer alert.

According to the FTC, scammers pretend to be from a college’s financial aid or bursar’s office and claim that a student’s financial aid fell through and that he or she can’t start classes unless they pay the full balance immediately. Other scams may claim that victims can’t access their college transcripts unless tuition is paid. Neither claim is true as colleges will not demand immediate payment over the phone.

“If someone calls and demands that you give them your bank or credit card information immediately, don’t do it. That’s a scam,” the FTC said. “And only scammers demand payment with crypto, a wire transfer service like Western Union or MoneyGram, a payment app or a gift card.”

The FTC also warned consumers not to trust caller ID as phone numbers can be spoofed. Most schools use secure student portals to post bills and let students pay safely, the agency said. “Check any tuition balance there first. Or call the financial aid or billing office directly using a number you know is legit. They’ll help you verify any outstanding balances and when you need to pay.”

Tags: FraudScams
ShareTweetPin

Related Posts

FDIC issues relief guidance for Mississippi, Tennessee banks affected by storms

FDIC issues relief guidance for Mississippi, West Virginia banks affected by storms

Compliance and Risk
August 17, 2026

The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Mississippi and West Virginia affected by severe storms.

Former OCC head: Bank regulators should return to focusing on core issues

ABA offers recommendations for changes to CAMELS rating system

Compliance and Risk
August 17, 2026

As regulators weigh changes to the CAMELS rating system, ABA said it supports revisions that prioritize safety and soundness but believes further changes should be made to make ratings more objective and predictable.

ABA, 52 state bankers associations urge Congress to close stablecoin interest loophole

Treasury proposes rulemaking for licensing payment stablecoin issuers

Newsbytes
August 17, 2026

The Treasury Department released proposed rulemaking to require digital asset providers to obtain a federal or state license before issuing payment stablecoins, as required by the Genius Act.

Treasury Department launches cybersecurity initiative for financial services

Bank survey finds widespread cybersecurity concerns among small business owners

Compliance and Risk
August 17, 2026

Eight-seven percent of small business owners believe a cyberattack could have severe financial consequences, with 84% believing it could damage their customer relationships.

Compliance Inbox: Responding to Section 314(a) requests

Compliance Inbox: Responding to Section 314(a) requests

Compliance and Risk
August 17, 2026

Banks should familiarize themselves with FinCEN’s 314(a) FAQs, and follow prescribed procedures to contact FinCEN.

Consumer Sentiment declined in April

Preliminary: Consumer sentiment fell in August

Economy
August 14, 2026

The University of Michigan Consumer Sentiment Index decreased 7.6% in August compared to the month prior, landing at 51, according to preliminary results for the month.

NEWSBYTES

FDIC issues relief guidance for Mississippi, West Virginia banks affected by storms

August 17, 2026

ABA offers recommendations for changes to CAMELS rating system

August 17, 2026

Treasury proposes rulemaking for licensing payment stablecoin issuers

August 17, 2026

SPONSORED CONTENT

Beyond Surveillance: Rethinking Security for Modern Financial Institutions

Beyond Surveillance: Rethinking Security for Modern Financial Institutions

August 12, 2026
Relationship Banking at Scale: Why Banks Need The Digital Sales & Service Platform

Relationship Banking at Scale: Why Banks Need The Digital Sales & Service Platform

August 1, 2026
Why Your Systems Keep Slowing Down — and What to Do About It

Examiners Are Now Looking at Your Non-Core Systems

June 11, 2026
Your Floorplan Audit and Your Credit Decision Are Weeks Apart. That Gap Has a Price.

Your Floorplan Audit and Your Credit Decision Are Weeks Apart. That Gap Has a Price.

June 1, 2026

PODCASTS

Podcast: Banking the brave new world of college athletics

August 4, 2026

Podcast: Tactics for meaningful strategic planning

July 28, 2026

Podcast: Why it might be time to revisit a key FDIC ratio

July 23, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.