Identity verification

Jason Gardner, founder and CEO of the card issuer Marqeta, discusses his experiences in starting up multiple fintechs and makes predictions for the new year.

The Department of Health and Human Services has eliminated the need for health plans to use a standard unique health plan identifier, effective December 27.

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle.

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle.

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

NatWest is expanding its test of cards that use biometric fingerprints to authorize transactions, citing expanded use cases for contactless payments in the U.K.

Seeking relief from rising synthetic fraud, U.S. companies next year will be able to quickly verify whether Social Security numbers match other consumer data in government files, in a bid to thwart fraudsters from creating fake identities with stolen information and SSNs.

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see.

Visa is leaning more heavily on its Issuers’ Clearinghouse Service to help banks combat the rise of synthetic fraud, which it attributes in part to a security measure adopted by the Social Security Administration years ago.

Linda Lacewell, New York’s superintendent of financial services, said the CFPB's debt collection proposal does not go far enough to protect consumers.