Browsing: Newsbytes

Compliance and Risk

Impostor scams—in which scammers pose as representatives from the government or a well-known business, romantic interests or family members—were the number one type of fraud reported to the Federal Trade Commission’s Consumer Sentinel in 2019, the agency said today.


In a joint comment letter with the Clearing House and the Consumer Bankers Association yesterday, the American Bankers Association and its subsidiary BAFT offered support for proposed changes to the Consumer Financial Protection Bureau’s remittance rule.


The four bipartisan lead sponsors of the SAFE Banking Act—passed by the House last fall—yesterday wrote to Senate Banking Chairman Mike Crapo (R-Ohio) cautioning him not to limit the bill’s safe harbor for financial institutions that choose to serve legitimate cannabis businesses in states where it is legal.


As the Consumer Financial Protection Bureau prepares to conduct its five-year assessment of the 2013 TILA-RESPA Integrated Disclosure Rule, ABA joined several other financial trade groups in an extensive comment letter detailing how the rule has imposed significant and unnecessary costs and liabilities on lenders.

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