All Electronic Fund Transfer Act articles
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News BriefN.Y. sues Citi for lax data security, failing to reimburse fraud victims
Citibank faces a lawsuit from New York Attorney General Letitia James for allegedly failing to protect and reimburse customers who lost thousands of dollars in fraudulent wire transfers.
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News BriefACI Worldwide fined $25M for lax data handling, unauthorized transactions
The Consumer Financial Protection Bureau ordered ACI Worldwide to pay a $25 million fine for improper data handling that led to approximately $2.3 billion in erroneous mortgage payment transactions.
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PremiumComerica pressured over handling of government program fraud claims
Comerica Bank has been battling allegations for years of mishandled fraudulent transactions in violation of U.S. federal banking laws. A series of class-action lawsuits against the bank recently certified by a federal district court judge provide scope into the alleged failings.
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ArticleLawsuit: Lax Coinbase cybersecurity led to theft of customers’ crypto
Coinbase is the subject of a class-action lawsuit alleging cybersecurity failures at the cryptocurrency exchange are to blame for customer accounts losing thousands of dollars in crypto, with the company not doing enough to prevent further thefts.
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ArticleCFPB: First enforcement brought under international money transfer rule
The CFPB has brought its first enforcement action for violations of a rule that took effect in 2013 designed to protect consumers who electronically transfer money from the United States to other countries.