New York Attorney General Letitia James sued a bank for failing to (i) protect victims of electronic fraud and (ii) reimburse their losses.
News & Insights
ISDA CEO Scott O’Malia reported that ISDA continues to work with global policymakers to improve margining practices that can mitigate the impact of "extreme" volatility.
In an amicus curae brief filed in the U.S. Court of Appeals for the Fourth Circuit, the CFPB supported plaintiffs in their appeal of a dismissal of a class action against a major commercial bank for allegedly mismanaging the distribution of government benefit prepaid cards during the COVID-19 pandemic.
In a letter to the CFPB, the American Bankers Association warned that shifting the liability for fraudulent payments on peer-to-peer instant payment systems to institutions will likely have negative consequences.
Senator Elizabeth Warren (D-MA) urged the CFPB to take action against the "rampant fraud" on the peer-to-peer instant payment platform Zelle.