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Banks ask for help protecting customers from online romance scams – CNBC

The banking industry is seeking help from the federal government and the social media industry to stop an escalating crisis that costs Americans billions of dollars each year: online romance fraud. Such digital crimes have skyrocketed since the pandemic, as criminals reach out to lonely Americans on social media by posing as attractive partners. “We […]

Real estate pain for US regional banks is piling up, investors warn

Charles Schwab’s chief investment strategist predicts the future of local banks amid New York Community Bancorp’s lawsuit over Claman Countdown. New York Community Bancorp’s commercial real estate exposure has increased investor scrutiny of local banks, with investors expected to face further pain for banks with office and multifamily real estate loans. There is also. A […]

‘MAGA’ Used for Banks to Surveil Transactions After Jan. 6

President Joe Biden’s (D) administration acknowledged what conditions were used when federal investigators asked banks to monitor Americans’ financial transactions after the Jan. 6, 2021 protests. It is reported that. According to Fox News, obtained News outlets reported Friday that the government acknowledged the letter included the words “MAGA,” “Trump” and “Kamala.” The report continued: […]

WV Gov. Justice seeks to block bank’s land auction to collect on his loans

Lawyers for West Virginia Gov. Jim Justice’s family are trying to block a Virginia bank’s plan to auction off the governor’s luxury resort to recover more than $300 million in defaulted business loans. There is. The motion for an injunction was filed Wednesday on behalf of the Greenbrier Sports Club in White Sulfur Springs. Greenbrier […]

With check fraud on the rise, new AI-powered platform helps banks fight back

Jackie DeAngelis, co-host of “The Big Money Show,” speaks with Rohit Chauhan, vice president of artificial intelligence at Mastercard, about the company’s efforts to combat credit card fraud. Although it’s rare to see someone cutting a check at a grocery store these days due to the widespread use of credit and debit cards, checks are […]