Links in “Banks”
- 5 Schemes Cyber Criminals Use to Complete Fraudulent Wire Transfers
Principles for detecting wire transfer fraud when no two attacks are the same. [5/21]
- Call for Opposition to CU Business Lending Legislation
Bill would give "tax-subsidized credit union industry" a "government-funded competitive advantage over taxpaying community banks," according to ICBA. [5/20]
- CFPB Clarifies Escrow Rule Definitions of “Rural” and “Underserved”
Efforts to clarify rules on borrowersâ ability to repay higher-priced mortgages for higher-priced loans continues. [5/20]
- What the $45 Million ATM Heist Means for Financial Institutions
Even sophisticated thieves seek to exploit the well-known vulnerabilities in combination with higher-end attacks. [5/17]
- CFPB’s New Weapon to Battle Auto Loan Markups: Racial Discrimination
CFPB doesn't ban auto loan markups, but lays the groundwork for enforcement action against lenders on basis of higher markups for minorities. [5/16]
- New Legislation, Stricter Enforcement on Third-Party Contracting
Pressure mounts on management to ensure that the selection of and contracting with third-party providers. [5/16]
- High Compliance Risk, Caps on Fees Doom Bank’s Attempt to Compete Against Payday Lenders
California bank fails to beat payday lenders at their own game in the Bay Area. [5/15]
- $203 Million Penalty for Overdraft Fee Case Reinstated
Judge slams Wells Fargo for deceiving customers by posting debit transactions with the highest dollar amount first, rather than the order they occurred. [5/16]
- “Final” Final Rule Sets New Effective Date for Remittance Transfer (Finally)
Latest final rule means the entirety of the remittance transfer rule, including all previous final rules, have a new effective date. [5/16]
- Consumer Website Accuses Merchants of Charging for Card Use
GoBankingRates.com alleges retailers taking advantage of consumer confusion. [5/15]
