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May

10
2023
Industry News

Those urgent emails from MetaMask and PayPal are phishing scams

If you got an email that seems to be from MetaMask or PayPal, stop. They’re phishing scams. The MetaMask fake says your cryptocurrency wallet is blocked. And, if you don’t act fast, click a link, and update your wallet, they say your crypto will be lost.

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May

10
2023
Industry News

California Credit Union Receives Certification For Safe, Affordable Checking Account For Underbanked Californians

GLENDALE, Calif., May 9, 2023 /PRNewswire/ -- California Credit Union has received certification by the national Cities for Financial Empowerment Fund (CFE Fund) for its checking account product, which can benefit the nearly 19% of California households that are categorized as underbanked or unbanked. California Credit Union is among only four credit unions in Los Angeles, and 15 credit unions in California, offering accounts certified as meeting the benchmark Bank On National Account Standards.

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May

10
2023
Industry News

CFPB Issues Guidance to Rein in Creation of Fake Accounts to Harvest Fees

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it. The CFPB has observed in complaints that even after a consumer completes all the required steps to close an account, their bank has “reopened” the closed account and assessed overdraft and nonsufficient funds fees.

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May

9
2023
Industry News

A group of scammers cheated student-loan borrowers out of $12 million by misleading them about repayment programs

A federal watchdog just cracked down on two companies over accusations of lying to student-loan borrowers and scamming them out of millions of dollars.

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May

9
2023
Industry News

Divergent Paths: Robocalls Decline While Robotexts Spike, According to Robokiller Insights

NEW YORK, May 9, 2023 /PRNewswire/ -- The gap in volume between robotexts and robocalls widened in April according to Robokiller Insights, as Americans received 13 billion robotexts (an 8% increase vs. March) and 5 billion robocalls (a 13% decrease). Don't count out robocalls just yet, though — historically they slow down in April but pick back up soon after.

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