SAN FRANCISCO–The costs to consumers from identity fraud losses have more than doubled and account takeovers are proliferating, according to the 2020 Identify Fraud Report from Javelin Strategy & Research.
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WASHINGTON—The Consumer Financial Protection Bureau and Commonwealth of Massachusetts Attorney General Maura Healey have jointly filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and Nikitas Tsoukales, Key Credit Repair’s president and owner, the Bureau reported.
RIVERWOODS, Ill.—Discover Financial Services is extending its EMV fraud liability date for automated fuel dispensers for six months from Oct. 16 until April 16, 2021.
WASHINGTON—The Federal Trade Commission has charged a payday lending enterprise with deceptively overcharging consumers millions of dollars and withdrawing money repeatedly from consumers’ bank accounts without their permission, the agency said.
PALO ALTO, Calif.—On May 1, PayPal experienced the largest single day of transactions in the company’s history — bigger than both Black Friday and Cyber Monday of 2019.
ALEXANDRIA, Va.–NCUA has filed a response to a petition by the American Bankers Association (ABA) in which the bankers group continues to challenge the agency's 2016 field of membership rules.
NEW YORK—Many of the nation’s financial institutions have dealt with a flood of Paycheck Protection Program (PPP) loan applications. Now, they must brace for a new flood of applications, this time from the same businesses seeking loan forgiveness.
ALEXANDRIA, Va.–NCUA said CUs that have been participating Paycheck Protection Program can now begin reporting on PPP loans and collecting the processing fee on fully disbursed loans that they are eligible to receive.
CHARLOTTE, N.C.–Bank of America announced some customer data may have been exposed during the uploading of loan applications related to the Paycheck Protection Program.
WASHINGTON–Credit unions reopening their facilities as lockdown orders around the coronavirus pandemic are lifted have had one piece of the burden lifted a bit.