ABA Banking Journal

The Federal Communications Commission is seeking public comment on creating a “robocall scorecard” to measure how voice service providers are protecting consumers from illegal calls. The FCC is seeking feedback on “key principles” for the creation and usability of a robocall scorecard, according to a commission statement.

More than two in five U.S. consumers said they have encountered a scam powered by artificial intelligence, either personally or through someone they know, according to a recent survey by Credit One Bank. More than two in five middle-income renters say they earn more than their parents did at the same age but still can’t afford a home, according to a recent survey by Neighbors Bank in Missouri.

More than two in five U.S. consumers said they have encountered a scam powered by artificial intelligence, either personally or through someone they know, according to a recent survey by Credit One Bank. The survey found that 7% of respondents said they had lost money to an AI-enabled financial scam. More than 14% said they were targeted but caught it in time, with nearly 10% saying they received a suspicious communication and remained worried about being a target.

More than two in five middle-income renters say they earn more than their parents did at the same age but still can’t afford a home, according to a recent survey by Neighbors Bank in Missouri. The survey found that 44% of middle-income renters said they were unable to afford a home despite believing that they made more than their parents at the same age. More than two in three renters (68%) wouldn’t buy a home this year, even if a relative covered half their down payment.

Bank Secrecy Act reports flagged approximately $12.7 billion in suspected digital asset investment scam activity during a roughly two-year period beginning in 2023, showcasing the extent of the problem, according to a FinCEN analysis. The agency also published...

Bank Secrecy Act reports flagged approximately $12.7 billion in suspected digital asset investment scam activity during a roughly two-year period beginning in 2023, showcasing the extent of the problem, according to a Financial Crimes Enforcement Network analysis released today. FinCEN also published a related alert for financial institutions on overseas digital asset investment scam centers.

Years of duplicative, one-size-fits-all regulation have strained the diversity of the banking sector, with the burden falling hardest on community banks, Kathy Kraninger, president and CEO of the Florida Bankers Association, told House lawmakers on Wednesday.

House Republican leadership today announced it will not schedule votes during the final two weeks of September, freeing members to campaign for the upcoming midterm elections. The House was originally scheduled to be in session from Sept. 14 to Oct. 1, at which time it would begin its October recess. Under the new schedule, the House will take a brief one-week recess next week before returning on Sept. 14.

Economic activity in the services sector continued to expand in August. The ISM Services Index indicated expansion at 55.4%, the 26th consecutive month in expansion territory. A value above 50 reflects expansion in the services sector while a value below 50 represents a contraction. “In January, the Services PMI® registered a reading of 55.4%, the same as the seasonally adjusted December figure of 53.8% an increase of 1.3 percentage points (pp) compared to July’s figure of 54.1%.

Fifty-two state bankers associations expressed strong support for the Federal Communications Commission’s proposals to ensure that all voice service providers in the path of a call take meaningful responsibility for keeping illegal calls off the U.S. calling network.