Fraud liability

Balances for accounts suspected of synthetic fraud inched up about 1% in the second quarter from a year earlier, according to TransUnion.

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast.

The Cleveland regional said the matter is tied to a commercial client and that law enforcement is investigating it.

Trace Fooshee, senior analyst at Aite Group and former head of fraud strategy at SunTrust, explains fraudsters’ latest tactics and the best methods of self-defense.

In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust.

A week before he is due to resign, CFPB Director Richard Cordray sent a letter to 29 CEOs at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods.

Landmark Bancorp in Manhattan, Kan., could lose more than $5 million — more than it earned in the first half of the year — if a recently discovered overdraft situation cannot be resolved.

U.S. banks and credit unions face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud.

U.S. banks face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud.

Wells Fargo may have opened as many as 3.5 million fraudulent accounts in the last 15 years, according to consumers who are trying to beef up a settlement with the bank over abusive sales practices.