Payments Dive

OCTOBER 4, 2022

The senator pushed to bolster a key CFPB rule after releasing a report tallying claims of fraud and scams on the P2P platform submitted by Truist, PNC, U.S. Bank and Bank of America.

Zelle 146

Zelle CFPB P2P Scams 146

FICO

JUNE 15, 2021

All too often, elders today are the targets of residential real estate fraud and scams. Here are two popular real estate scams targeting the elderly. This scam usually involves a spur-of-moment decision. Put assets in a trust: Putting elders’ assets in trusts protects them from all manner of financial scams.

Scams 98

Scams Elder Abuse Consumer Financial Protection Bureau (CFPB) CFPB 98

Payments Dive

JUNE 22, 2023

Servicemember complaints about digital payment apps surged last year, according to a CFPB report, which also highlighted military families’ susceptibility to payments fraud.

Digital Payments 88

Digital Payments Scams CFPB Payments 88

PYMNTS

JULY 20, 2020

The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release from the U.S. The CFPB was off to a good start after the last economic crisis,” said Mike Litt , U.S. PIRG Education Fund.

CFPB 64

CFPB Consumer Financial Protection Bureau (CFPB) Consumer Identity Theft 64

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. Also known as scams or authorized user fraud, this multi-billion-dollar global fraud challenge is a real headache for consumers and banks. . Scams and P2P Payments Are Front and Center. The reality is that the US is reaching a tipping point for P2P scams.

Scams 52

Scams Authorization P2P Consumer Financial Protection Bureau (CFPB) 52

PYMNTS

SEPTEMBER 20, 2017

The CFPB wants to prevent Top Notch, owner Rory Donadio and his business associate John “Gene” Cavalli from offering or providing such products in the future. The Bureau also ordered them to pay $70,000 in civil money penalties to the CFPB’s Civil Penalty Fund.

CFPB 42

CFPB Settlement Legal Scams 42

PYMNTS

FEBRUARY 8, 2017

The Consumer Financial Protection Bureau (CFPB) and the New York attorney general have filed a lawsuit against RD Legal Funding, LLC, as well as Roni Dersovitz, the company’s founder and owner, for allegedly scamming 9/11 heroes out of money they needed to cover medical costs, lost income and other needs.

Legal 40

Legal Scams Consumer Financial Protection Bureau (CFPB) CFPB 40

PYMNTS

NOVEMBER 4, 2020

The Better Business Bureau (BBB) has estimated that it will process over 450 complaints this year about used car scams, with victims losing in excess of $1 million. No Open And Shut Path For Open Banking As CFPB Mulls Rules. Scammers are preying on used car buyers as demand surges for pre-owned vehicles amid the pandemic.

Consumer Financial Protection Bureau (CFPB) 78

Consumer Financial Protection Bureau (CFPB) CFPB Cross-Border Blockchain 78

PYMNTS

APRIL 30, 2018

Elizabeth Warren, putting more pressure on acting Consumer Financial Protection Bureau (CFPB) director, sent a letter asking Mick Mulvaney if he is helping the industries that he is supposed to be overseeing. Your recent admission also raises questions about your other official actions at the CFPB.

Consumer Financial Protection Bureau (CFPB) 51

Consumer Financial Protection Bureau (CFPB) CFPB Federal Reserve Scams 51

FICO

JUNE 15, 2020

Be on the Lookout for Scams. Educate yourself on how criminals specifically target the elderly , and teach your loved one what elder fraud scams are and how to avoid them. Play a voicemail message from a travel-award scam, if you get one. Block Solicitations.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Elder Abuse Scams Credit Cards 52

PYMNTS

APRIL 11, 2016

Fraudsters Bank Billions Via Corporate Email Scams. Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 BlueSnap CEO Ralph Dangelmaier tells Karen Webster about how their work with AutoDesk has given rise to a whole new SaaS business model to explore – and monetize.

ATM 40

ATM Wire Transfer Scams Compromise 40

PYMNTS

JANUARY 26, 2017

Still, cybercrimes like wire fraud and the business email compromise scam will remain prevalent in the industry. Mercator identified prepaid and debit cards as two areas particularly vulnerable to shifting regulation at the CFPB and with regards to the Durbin Amendment. Regulation Throws FinTech Off-Guard.

B2B 54

B2B Innovation B2C Faster Payments 54

PYMNTS

SEPTEMBER 21, 2016

You should give back the money you took while this scam was going on, and you should be criminally investigated,” Senator Elizabeth Warren told Stumpf this morning, adding that the only way that banks will change their behavior is if bank CEOs serve jail time. The CFPB too. The Senate is Not Amused (Nor Should They Be).

Returns 61

Returns CFPB On-Demand Accounts 61

PYMNTS

NOVEMBER 20, 2017

Simply counting the number of complaints that rack up on sites such as the Better Business Bureau, the CFPB or the Ripoff Report is not enough. Reputation management is as much an art as a science, agreed Hennessy and Webster. Even as online complaints mounted, indifferent processors and banks continued to allow fraud.

Risk 49

Risk Processors Legal Verification 49

PYMNTS

JUNE 1, 2017

In a press release, the CFPB said the snapshot provides an overview and analysis of more than 103,100 complaints submitted to the Bureau by consumers voluntarily reporting their age as 62 or older. Another common complaint among older consumers: getting money back after falling victim to a financial scam.

CFPB 66

CFPB Consumer Scams Credit Cards 66

PYMNTS

FEBRUARY 9, 2018

Steve Mnuchin: For diplomatically telling the Justice Department to please let them digitize pot payments, and equally diplomatically telling the CFPB to please help with the Equifax hack investigation. Bad guys have been using a phishing scam to target employees at firms and grab hold of their paychecks, before said paychecks hit accounts.

Direct Deposit 53

Direct Deposit Scams Regulations CFPB 53

PYMNTS

APRIL 25, 2016

Back across the pond, the CFPB seems to like that song a lot too. The Bloomberg headline from April 20 on the topic though says it all: CFPB Study Finds Payday Loan Borrowers Hit with Fees , inferring that we should be living in a world where people can borrow money without paying any. Free – a good gig if you can get it.

Regulations 41

Regulations Consumer CFPB Online and Mobile Banking 41

PYMNTS

APRIL 20, 2018

According to a report in the Financial Times , more than a dozen attorneys general in states around the country in December expressed alarm about the appointment of Mick Mulvaney as the acting director of the CFPB, pointing out he once called the government watchdog a “joke…in a sick, sad kind of way.”

CFPB 42

CFPB Void Non-Bank Laws 42

PYMNTS

JUNE 22, 2018

A federal judge in New York has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. Earlier this week, it was reported that President Donald Trump nominated Kathy Kraninger to be the head of the CFPB, replacing Acting Director Mick Mulvaney. According to Reuters , the decision by U.S.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Rules Legal 40

PYMNTS

NOVEMBER 28, 2016

The CFPB must show greater concern for losing the benefits consumers get from borrowing in its efforts to stamp out wrongdoing. And the fact is, the CFPB is an important protector of those people.”. When it comes to borrowing money, the CFPB is not the “important protector” of those with the short end of the economic stick.

Consumer 51

Consumer CFPB Credit Cards Federal Trade Commission 51

PYMNTS

SEPTEMBER 28, 2018

Bloomberg noted that a focus of the panel, announced in mid-July, was to be on the scams involving bitcoin and other virtual tokens, including crimes like money laundering and investment schemes targeting the elderly.

Consumer Financial Protection Bureau (CFPB) 76

Consumer Financial Protection Bureau (CFPB) Money Laundering Law Enforcement Federal Trade Commission 76

PYMNTS

JULY 13, 2018

It turns out companies are having some success in the everlasting battle against corporate fraud — in B2B, email phishing scams and supply chain attacks in particular. The efforts will involve the Department of Justice, CFPB , SEC and Federal Trade Commission , along with agencies in law enforcement at the local level.

Risk 40

Risk Phishing Federal Trade Commission Debit Card 40

PYMNTS

JULY 12, 2018

Bloomberg noted that a focus of the panel, announced on Wednesday (July 11), will be on the scams involving bitcoin and other virtual tokens, including crimes like money laundering and investment schemes targeting the elderly. The creation of the task force is another way for the administration to overhaul the CFPB.

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) Crime Federal Trade Commission CFPB 40

CB Insights

JUNE 20, 2018

While countries such as South Korea and Australia have started implementing cryptocurrency-specific regulation, the US Consumer Financial Protection Bureau (CFPB) will rely on existing laws to protect consumers. The crypto-craze also brought its fair share of scams and fake ICOs, leading to the need for regulation in other countries.

Consumer Financial Protection Bureau (CFPB) 29

Consumer Financial Protection Bureau (CFPB) Cryptocurrency CFPB Laws 29

Finovate

FEBRUARY 11, 2025

The Trump administration has ordered the Consumer Financial Protection Bureau (CFPB) to suspend nearly all activities. The CFPB was launched in 2011 as part of a sweeping set of reforms enacted in the wake of the Great Financial Crisis of 2007-2008. So, what can the CFPB do, if anything?

Consumer Financial Protection Bureau (CFPB) 59

Consumer Financial Protection Bureau (CFPB) Consumer CFPB On-Demand 59