Despite ongoing efforts to educate consumers on protecting themselves against financial crime, increasing authorized fraud and scam instances are nightmares for banks and their customers. Authorized fraud, which targets customers or bank employees, is particularly troubling.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) issued a new report finding consumers encounter numerous problems with credit card rewards programs. Consumers tell the CFPB that rewards are often devalued or denied even after program terms are met.
The Federal Trade Commission (FTC) has recently released its Privacy and Data Security Update for 2023, offering insights into its efforts to safeguard consumer privacy in an era of rapidly evolving data usage. The report highlights the FTC’s proactive stance in protecting consumers against indiscriminate data collection and exploitation by companies.
This month, 118,101 consumers who were deceived by LendUp Loans LLC will receive checks in the mail. LendUp Loans, headquartered in Oakland, California, offered single-payment and installment loans to consumers online and marketed itself as an alternative to payday lenders.
FDCPA and FCRA cases fell, while TCPA and CFPB complaints increased in March, according to the latest report from WebRecon.
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