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February 28, 2025 |
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 Features
The big story of check fraud is not only its vast cost to the country and to individual victims, but simply the remarkable rate at which it is increasing. On this episode of the ABA Fraudcast, ABA’s Paul Benda discusses with Caitlin Piasecki of the United States Postal Inspection Service the enormous scale and challenge of addressing mail theft, a common venue for criminals to access paper checks.
Citing growing concerns from community bankers about the regulatory burden on their institutions, Federal Reserve Bank of San Francisco President Mary C. Daly said regulators must strive to find a "middle ground" between protecting the public and giving banks free rein to engage in risky behavior, during a speech at the ABA Conference for Community Bankers.
A recent poll of U.K. residents found that most were likely to withdraw their money from a bank after being exposed to fake news and social media posts created using artificial intelligence.
In rural southeastern New Mexico, bank CEO and varsity bowling coach Ken Clayton often takes his team on 500-mile one-day roundtrips for bowling tournaments. For Clayton, that commitment to going the distance is also what community banking is about. On the latest episode of the ABA Banking Journal Podcast Clayton discusses what makes community banks like his tick.
The Financial Action Task Force has updated its lists of jurisdictions with strategic deficiencies in countering anti-money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, the Financial Crimes Enforcement Network announced.
In a letter to senators, the ABA highlighted recent FDIC documentation showing that regulators discouraged banks from fully engaging with digital assets, stressing that such a decision should be left to banks.
The ABA voiced support for new rules by the Federal Communications Commission that would combat illegal calls. The draft order, which is scheduled for a vote by the FCC on Feb. 27, would require all voice service providers in the call pathway to block calls that are highly likely to be illegal based on a "reasonable do-not-originate" list.
The Financial Crimes Enforcement Network issued a statement calling on financial institutions to remain vigilant regarding suspicious activity that may be indicative of relationship investment scams.
Republican lawmakers on the House Financial Services Committee offered five recommendations to the FDIC on how to "clarify" digital asset regulation and prevent alleged debanking. The recommendations include eliminating reputational risk as a supervisory factor and subjecting all supervisory guidance to external, periodic review.
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