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Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.October 19
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Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.October 19
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The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.October 14
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CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.October 14
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Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.October 14
Managing PartnerFederal Financial Analytics
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The company posted a surprise increase in third-quarter expenses as it set aside almost $1 billion for customer remediation and $718 million in restructuring charges.October 14
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Executives and technology analysts offered a host of concerns that are likely to dog credit unions well into the new year.October 14
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The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information.October 8
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Increases in attacks, escalating money demands and the security challenges of having people work from home are magnifying the threat.October 7
