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Instances of check fraud have ballooned in recent years, plaguing banks, and they don't seem to be slowing down. Probably the best thing regulators can do to combat that fraud is to develop an equally inexpensive alternative that is more secure, and FedNow might be that service.
July 30
American Banker -
In a new survey of bank executives from IntraFi, 90% of respondents said instances of check fraud have increased in recent years and half want law enforcement to make check fraud a bigger priority to stop criminals from stealing checks in the mail.
July 29
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A rising number of check fraud cases involving counterfeit checks is compounding the already-serious problem of fraud in one of the oldest payment methods widely available.
July 24
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The Biden Administration firmly rejects proposed cuts to key financial oversight and consumer protection agencies in the Republican-backed financial services appropriations bill for fiscal year 2025.
July 22
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Federal banking agencies asked the Fifth Circuit to lift an injunction on new community lending regulations, arguing that the court misinterpreted the scope of the Community Reinvestment Act's reach.
July 22
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Shares in the Dallas bank fell sharply after it disclosed that it expects to lose its contract for the Direct Express program, which would wipe out more than $3 billion in non-interest bearing deposits. Comerica's involvement with the Treasury Department's prepaid card program has been marred by controversy.
July 19
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Mixed earnings results at Wells Fargo and the ongoing merger proposal between Discover Financial Services and Capital One Financial are creating added pressure for investors.
July 18
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Banks reported that they have far more protections against fraud in digital channels versus branches or call centers, according to survey research.
July 16
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As part of the three-year agreement, the group will fund a $1.22 million scholarship fund to recruit minorities into the appraisal profession.
July 11
