Effort aims to protect consumers and financial institutions from fake check scams.
January 4, 2011
The New York State Consumer Protection Board joined with the Credit Union Association of New York and others to announce the start of a new, innovative program to protect consumers and financial institutions from fake check scams.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
CUNA is concerned with a report on consumer testing used by the CFPB to analyze periodic statement forms for consumers in bankruptcy, but concurs with some of its findings. The bureau issued a report in February on its study.