NEW YORK—A federal judge in New York has dismissed a lawsuit accusing Citibank of ignoring warning signs that allowed scammers to steal nearly $4 million from a Texas man's family trusts in a cryptocurrency romance scam, ruling the bank did not owe the customer the broad duty alleged in the complaint, Law360 reported.
NEW YORK--A growing number of consumers are willing to let artificial intelligence help choose how they finance purchases, but they draw a firm line at giving up control, according to new research from PYMNTS Intelligence and Splitit.
WASHINGTON--This week, the Defense Credit Union Council joined a coalition of trade groups, including America's Credit Unions, in a joint letter to Joseph M. Gormley, Assistant Secretary for Housing–Federal Housing Commissioner at the U.S. Department of Housing and Urban Development.
WASHINGTON--The Defense Credit Union Council recently submitted recommendations on behalf of credit unions to House Financial Services Committee leadership, providing a full analysis and vote recommendations for legislation scheduled for consideration during the Committee's Full Committee markup.
WASHINGTON—Americans continued shifting away from checks and cash in 2024, with the number of noncash payments climbing to a record 236.6 billion and credit card use growing faster than debit card transactions for the first time in nearly a decade, according to preliminary results from the Federal Reserve's 2025 Payments Study.
SINTRA, Portugal—Federal Reserve Chairman Kevin Warsh used his appearance at the European Central Bank Forum on Central Banking to stress that the Fed will remain independent and committed to its 2% inflation target, even as President Trump continues pressing for lower rates, according to Reuters.
WASHINGTON—Sen. Elizabeth Warren (D-MA) is pressing Capital One to disclose whether executive Brian Johnson, President Donald Trump’s nominee to run the CFPB, had any role in the agency’s decision to drop a major enforcement case against the bank.
WASHINGTON— Mortgage applications increased 0.04% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 26.
TOPEKA, Kans.--Following a year-long Fight the Fraud campaign, Kansas credit unions saw legislative success in implementing fraud prevention measures as Gov. Laura Kelly signed HB 2591, America's Credit Unions reported.
WASHINGTON—The Federal Deposit Insurance Corp., acting as receiver for the failed Silicon Valley Bank, is the sole owner of the bank’s claim for insurance coverage tied to a $73 million fraud scheme and is entitled to recover any proceeds related to losses suffered by the institution, a federal judge in North Carolina has ruled, Law360 said.
