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Consumer Compliance - Banking Exchange
At the end of the day, consumer behaviors drive the biggest change
Several banks including JP Morgan and Bank of America have already come under scrutiny
Bank of America ranks highest in banking mobile app satisfaction, reports JD Power
Federal Reserve data noted the lack of demand for small business loans even while noting that consumer demand is on the increase
Public’s input sought on potential modernization of advertising and signage rules to better reflect how banks operate
The E-Sign Act was signed into law over two decades ago
The OCC introduced rules last year to ‘clarify’ which entities were responsible for loans
Payment disputes related to friendly fraud are expected to soar due to the pandemic-fueled surge in e-commerce
Fraud attempts rose last year, but some banks are still not taking all the precautions they could
These bills have the potential to drastically impact the privacy obligations of businesses, including financial institutions
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