Fraud-Related Losses Rise Among Older Consumers
Consumers aged 60 and older lost nearly $440 million to fraud in 2019, a $40 million rise from the prior year, according to a report submitted to Congress today by the Federal Trade Commission.
Consumers aged 60 and older lost nearly $440 million to fraud in 2019, a $40 million rise from the prior year, according to a report submitted to Congress today by the Federal Trade Commission.
The share of U.S. households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report.
The coronavirus crisis is (hopefully) a once-in-a-lifetime event, but the way banks respond and adapt to its challenges has the potential to forever change the way they do business.
Now is the time to fully embrace and engage not just the online account opening process but smart digital marketing to support it.
Streamlining the process of managing disclosures will make it easier to stay compliant and reduce costs and timelines significantly, all while improving customer experience.
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
ABA joined a broad coalition of advocacy organizations representing a range of industries in a letter to the Departments of Justice, Commerce and State and the Office of the Director of National Intelligence yesterday requesting that they convey to European regulators that “U.S. companies cannot be expected to explain U.S. government surveillance practices as they defend their use of [standard contractual clauses] for commercial [data transfers].”
The pandemic has upended almost every aspect of Americans’ lives, including how they bank. Which aspects of the COVID-fueled digital acceleration are here to stay?
The American Bankers Association today said it has “serious concerns” about the OCC’s intention to issue a payments charter that would allow non-depository institutions to access the payments system.
With the pandemic lingering like a houseguest who refuses to go home, it’s reassuring to know that we can meet a full range of customers’ needs with the help of online and digital technologies.