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
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.
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.