‘It's just a nightmare’: More and more USAA members who lost …
WEBJun 14, 2024 · In response to reports of fraudulent activity, a USAA spokesperson told News 4 San Antonio “bank fraud is an unfortunate reality for financial institutions around the world,” and “USAA ...
Former Wells Fargo executive avoids prison time for her role in …
WEBSep 15, 2023 · Former Wells Fargo executive Carrie Tolstedt was sentenced to three years’ probation on Friday for her role in the bank’s sprawling fake-accounts scandal.
Chase Bank is referring check fraud 'glitch' incidents to authorities
WEBSep 6, 2024 · Chase Bank said it was reviewing incidents of individuals who may have participated in an online check fraud "glitch" trend and referring them to law enforcement authorities.
Bank of America, Wells Fargo are under investigation for handling …
WEBAug 7, 2024 · (Reuters) - The Consumer Financial Protection Bureau is investigating major U.S. banks for their handling of customer funds on the peer-to-peer payments platform Zelle Network, the Wall Street...
As Nationwide Fraud Losses Top $10 Billion in 2023, FTC Steps Up ...
WEBNewly released Federal Trade Commission data show that consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark. This marks a 14% increase over reported losses in 2022.
Bank of America accused of opening fake accounts and charging ... - CNN
WEBJul 11, 2023 · Federal regulators said Tuesday they found that Bank of America harmed customers by double-dipping on fees, withholding credit card rewards and opening fake accounts, all of which are violations...
Check Fraud Is Rising and the Thieves Are Winning - The New York Times
WEBDec 9, 2023 · Banks and credit unions are expected to file nearly 540,000 suspicious-activity reports tied to check fraud this year, a record, according to a Thomson Reuters analysis of data from FinCEN....
Bank of America fined for consumer abuses, fake accounts, bogus …
WEBJul 11, 2023 · Regulators have punished Wells Fargo for a sales culture that led to the creation of 3.5 million fake accounts. But other lenders have had similar lapses, including U.S. Bank, which paid a $37.5...
Bank of America to pay $250 million for illegal fees, fake accounts - NPR
WEBJul 11, 2023 · An investigation found that Bank of America raked in tens of millions of dollars in resubmitted insufficient funds fees. The bank also illegally opened credit cards without customers knowledge.
Fraud Is Flourishing on Zelle. The Banks Say It’s Not Their Problem.
WEBMar 6, 2022 · Zelle, the payments platform used by millions of customers, is a popular target of scammers. But banks have been reluctant to make fraud victims whole — despite owning the system.