The Consumer Financial Protection Bureau extended the comment deadline for an advance notice of proposed rulemaking (ANPR) by 30 days to April 7, 2025. The ANPR seeks public input on potential amendments to Regulation V of the Fair Credit Reporting Act, focusing on consumer protections against identity theft and “coerced debt.”
The FDIC has proposed rescinding the agency’s 2024 Statement of Policy on Bank Merger Transactions. FDIC officials said at the time of issuance that the Statement of Policy addresses the scope of transactions that will be reviewed, the process for that review and whether a proposed deal follows the standards established in the Bank Merger Act.
Federal bank regulatory agencies today reported in the 2024 Shared National Credit (SNC) report that credit risk associated with large, syndicated bank loans remains moderate. However, the agencies noted weakened credit quality trends continue due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors.
Newly released Federal Trade Commission data show that consumers reported losing more than $12.5 billion to fraud in 2024, which represents a 25% increase over the prior year.
The payments landscape is more sophisticated than ever, but so are fraudsters. With financial institutions (FIs) deploying artificial intelligence (AI), machine learning (ML) and other cutting-edge technologies to secure transactions, cybercriminals are increasingly finding that the easiest way in is through the weakest link: people.
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