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

The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act.

ABA joined four associations in providing recommendations for how the SEC could reform its regulations for cybersecurity disclosures by businesses.

Nearly four in 10 U.S. adults say they have been victims of fraud, while many more say they worry about becoming victims, according to a recent survey by AARP.

The FCC proposed to impose stronger “know your customer” requirements on voice service providers that originate calls, as part of an effort to crack down on illegal scam calls. The commission is scheduled to vote on whether to...

The Treasury Department proposed new rules to prevent CDFI Fund awards from being used to support individuals in the U.S. illegally. It also announced that CDFIs will be required to adopt policies aligning with the Trump administration’s anti-discrimination...

The Treasury Department will offer digital asset firms the same cybersecurity information it shares with banks and other financial institutions, provided the firms meet certain criteria, according to an announcement.