September 13, 2023 – Washington, D.C. – ACA International (“ACA”) has responded to the Consumer Financial Protection Bureau (“CFPB”) Request for Information (“RFI”), made in partnership with the Centers for Medicare and Medicaid Services (“CMS”) and the U.S. Department of the Treasury, on medical payment products.
Financial institutions (FIs) have generally found fraud and financial crime to be continually more sophisticated. The rise of digital banking and ever-faster digital payment methods have accelerated this phenomenon. As a result, banks have had to elevate their systems and processes to find ways to stem the growth in fraudulent transactions — and the resulting uptick in financial losses.
Wells Fargo Chief Financial Officer Mike Santomassimo reportedly said that the bank could make further layoffs as it seeks to improve efficiency. Since the third quarter of 2020, Wells Fargo has been trimming its workforce, already reducing its employee base by nearly 40,000, Reuters reported Tuesday (Sept. 12).
A Cook County judge won’t end a lawsuit from Chicago City Hall accusing a law firm and its contractor of operating a debt resolution scam, as the judge says the city's consumer fraud action doesn't amount to illegal attempts to regulate the practice of law.
ALEXANDRIA, Va. (Sept. 14, 2023) – The median growth rate in loans outstanding and membership at federally insured credit unions was positive over the year ending in the second quarter of 2023, while the growth rate in assets and shares and deposits was negative at the median, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration.
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