A recent court order issued in New York should concern any financial institutions that allow consumers to initiate wire transfers online. Financial institutions that allow consumers to execute wire transfers online should...more
1/24/2025
/ Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
Fraud ,
New York ,
Regulation E ,
Risk Management ,
Wire Transfers
On Wednesday, March 8, 2023, Silicon Valley Bank (SVB) announced to investors that it needed to raise $2.25 billion to shore up its balance sheet. A few days earlier, another bank (Silvergate Capital) announced it would cease...more