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Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.
(Reuters) -The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty, citing fraud and weak security protocols on its mobile payment service Cash App. The ...
One consumer watchdog group called the CFPB's legal action "an important step in holding payment systems accountable for enabling fraudulent and unauthorized payments." “Payment fraud impacts ...
The Fair Credit Billing Act (FCBA) is a United States federal law passed during the 93rd United States Congress and enacted on October 28, 1974 as an amendment to the Truth in Lending Act (codified at 15 U.S.C. § 1601 et seq.) and as the third title of the same bill signed into law by President Gerald Ford that also enacted the Equal Credit Opportunity Act.
A fake automated teller slot used for "skimming". Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. [1] The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal.
As it read in 1991, 18 U.S.C. § 1030(a)(5)(A), part of the Computer Fraud and Abuse Act, covered anyone who: [3] (5) intentionally accesses a Federal interest computer without authorization, and by means of one or more instances of such conduct alters, damages, or destroys information in any such Federal interest computer, or prevents ...
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular ...
Subsection (a)(1)(A) of Section 666 prohibits the embezzlement, stealing, obtaining by fraud or otherwise unauthorized conversion to the use of any person other than the rightful owner or the intentional misapplication of property having a value of $5,000 or more by an agent, typically an employee, of an organization or of a state, local or Indian tribal government agency that receives $10,000 ...