13 Investigates: How criminals are using mobile banking to steal from your bank account
During the pandemic, millions of people switched to mobile banking. It’s incredibly convenient, but criminals are using it too to drain bank accounts. Author: Bob Segall Updated: 11:27 PM EDT May 20, 2021
INDIANAPOLIS Robb Fine and Harold Wilson have never met, but they have a lot in common.
Both men own small businesses in Indianapolis. Both work long hours to make their companies successful. And both have lost thousands of dollars due to recent check fraud.
“They’re stealing the checks right out of the mailbox,” Wilson said. ”It’s a big deal. The first four checks they stole are about $12,000.”
USDA begins paying out $4 billion to farmers of color, prompting claims of reverse discrimination from White farmers and lawmakers
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New York Fed says consumers paid down credit card debt during the pandemic
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Banks say USDA’s debt forgiveness for minority farmers will cost them money and could affect future loans. Black farmers call that a threat.
Three of the biggest US banking groups want the US Department of Agriculture to reconsider the terms of billions of dollars in planned debt relief for minority farmers, claiming it will cut into banks’ profits and warn they may have to cut those same farmers off from future loans.
President Joe Biden’s $1.9 trillion Covid relief package passed in March includes $4 billion to help pay off farm loans for socially disadvantaged farmers and ranchers a group that includes Black and other minority farmers, who have long faced discrimination from lenders and the USDA. The payments will cover up to 120% of outstanding debt for each farmer or rancher, according to the USDA.
Banking Groups Don t Want Biden To Help Black Farmers With Debt Relief
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