ABA Fraudcast: The power of AI and trusting that voice on the phone

A longtime leader in the fight against fraud describes one effective addition to the banking industry’s commitment to innovation: partnership.

ABA expressed support for the FCC’s proposals to strengthen its numbering policies — which govern how phone numbers are distributed and sold — to combat criminals who place illegal calls that impersonate banks and other legitimate businesses.

ABA urged the FDIC to harmonize its proposed rulemaking to implement the Genius Act with rules put forward by other federal agencies to ensure a fair and competitive regulatory landscape for payment stablecoin issuers.

The FDIC is exploring whether to “significantly” slim down its resolution planning requirements for large banks and make several adjustments to the Deposit Insurance Fund's assessment framework, including reducing assessment rates, FDIC Chairman Travis Hill said.

Creditors may be legally obligated to check a consumer's immigration status for mortgage loans and credit cards, especially where removal from the U.S. may disrupt the consumer's income, the CFPB said.

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.