ABA’s Nichols renews call for national strategy on fraud
In his opening remarks for the ABA Washington Summit, President and CEO Rob Nichols renewed the association’s call for a...
Compliance and Risk
ABA survey: U.S. consumers happy with their bank, applaud fraud protection efforts
Nearly nine in 10 Americans with a bank account (89%) say they are “very satisfied” or “satisfied” with their primary...
Fraud Watch: Fraudsters use genAI to enhance old scams
Generative AI gives scammers a whole new toolbox. Understanding how these tools work is the first step to knowing how...
Fed survey: Most fraud losses attributable to debit card, check fraud
A Federal Reserve survey of risk officers at financial institutions found that debit card fraud drove fraud losses at those...
CFPB to initiate new Section 1071 rulemaking
In a court filing, the CFPB said its leadership has directed staff to initiate new rulemaking to implement Section 1071...
FS-ISAC issues framework for increasing fraud, cybersecurity team collaboration
FS-ISAC released a report on how financial institutions can strengthen collaboration between their cybersecurity, fraud, financial crime and anti-money laundering...
Synthetic risk transfers: A risk and capital management tool for banks
Enhanced oversight and potential adjustments to capital requirements could impact the attractiveness and structure of SRT transactions.
FinCEN issues guidance on Mexico-based criminal organizations, ISIS
FinCEN issued an alert for financial institutions on bulk cash smuggling and repatriation by Mexico-based transnational criminal organizations. It also...
ABA banker stresses need for collaboration to fight fraud
Despite the banking industry’s significant effort and investment in fraud prevention tools, bad actors continue to target U.S. consumers, Darrin...
OCC withdraws from interagency climate-related risk management principles for large banks
In a statement, the OCC called the principles for guiding banks on climate-related financial risk "overly burdensome and duplicative."
