New York Attorney General Letitia James sued a bank for failing to (i) protect victims of electronic fraud and (ii) reimburse their losses.
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Federal Reserve Board Governor Michelle W. Bowman criticized several recent banking proposals, calling on regulators to “appropriately calibrate and prioritize their supervisory and regulatory actions.”
The FTC and DOJ ordered MoneyGram to refund $115 million to nearly 40,000 consumers for its continued failure to protect against fraudulent scammers using their payment system.
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.
The FTC ordered Mastercard to allow merchants that accept Mastercard-branded debit cards saved in e-wallets to route transactions through payment card networks not operated by Mastercard.