Senators are concerned that scammers are taking advantage of Americans' bank accounts. From stealing checks, to scamming people through apps, lawmakers, like Sen. Jon Tester (D-Mont.), want solutions to deal with a rise in scams and bank fraud throughout the country.
A top U.S. banking lobbyist told a Senate panel Thursday there are limits to what financial institutions can do to stop scammers from draining individual banking
Frauds and scams in the banking system cost Americans billions in 2022, experts told a Senate panel Thursday. And that number will continue to rise unless Congress makes needed updates and holds companies more accountable. The median amount of money individuals lost in fraud cases more than doubled from 2020 to 2022, going from $311…
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The Senate Banking, Housing, and Urban Affairs Committee held a public hearing Thursday that aimed to bring awareness to banking scams that are targeting more Americans every year.