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Complaints to the Consumer Financial Protection Bureau have skyrocketed in the first half of 2025, due in part to an increase in payment scams generated by social media that target peer-to-peer payment platforms such as Zelle, Venmo and other apps.
July 23
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The Department of Justice has filed a notice that it will appeal a D.C. District Court ruling that reinstated two democratic members of the National Credit Union Administration who had been fired by President Trump earlier this year.
July 23
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American Banker's Frictionless Fraud report finds not all institutions are well assured their customer verification tools can keep up with new schemes.
July 23
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Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.
July 22
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The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.
July 21
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Texting a password recovery link to a customer presents the risk of someone else taking over the account. Researchers found this happens somewhat frequently.
July 18
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To reverse the trend in payments fraud, regulators and the private sector must work together to expand how we define verification. It must be a dynamic, intelligence-driven process embedded at every point of the payment journey.
July 18
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A Wells Fargo customer was surprised to receive a "cryptic notice" and a cashier's check from the firm compensating him for float fees charged more than a decade ago. A lawsuit followed.
July 18
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Supreme Court rulings and provisions in the recently passed budget bill are bolstering the legality of the administration's effort to fire more than 1,000 employees at the Consumer Financial Protection Bureau.
July 16
