ABA Fraudcast: One community bank’s fight against a mass text scam

FinCEN issued an advisory warning financial institutions “to be vigilant against risks presented by the unlawful employment of illegal aliens.” The advisory was jointly issued with the FDIC, OOC, NCUA and IRS.

Two lawmakers have released a draft bipartisan bill to establish a national regulatory framework for artificial intelligence, including increased penalties for AI-enabled fraud and temporary preemption of state laws regulating AI models.

The top banking regulators appeared before the House Financial Services Committee, where they said that a decision on whether to press forward on Community Reinvestment Act reform may come soon and that merger application reviews probably should consider...

The Treasury Department has not taken steps to address gaps in beneficial ownership reporting resulting from its decision to exempt U.S. companies from the requirements, the Government Accountability Office concluded in a new report.

ABA said that legislation to establish national data privacy standards contains many of the policy priorities that it has advocated for over the years, including ensuring that banks continue to be subject to the Gramm-Leach-Bliley Act framework.

ABA urged the Federal Communications Commission not to impose additional regulation on foreign call centers belonging to banks and other non-telecommunications companies.