As Wells Fargo continues to dig itself out of a years-long — if not decade-long — fake account fiasco perpetrated by employees under strain from high-pressure sales goals, federal regulators are warning other financial institutions that these sorts of programs could harm consumers and possibly lead to stiff penalties. [More]
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FBI To Carmakers, Owners: Your Vehicles Are “Increasingly Vulnerable” To Hackings
By 3.18.16
Nearly a year after the very public hacking of a Jeep that eventually led to the recall of more than 1.4 million Fiat Chrysler vehicles, federal law enforcement and vehicles safety officials are warning carmakers and owners that their vehicles are “increasingly vulnerable” to hackings. [More]
CFPB To Banks: Offer More “No Overdraft” Checking Accounts, Provide Accurate Credit Information
By 2.3.16
Some 10 million Americans are considered “unbanked,” often because they are believed to pose too high a credit risk for a bank to offer them a standard checking account. But the federal Consumer Financial Protection Bureau believes many of these people could be brought into the fold if more banks were to offer lower-risk deposit accounts that provided the benefits of a checking account without being a risk to the financial institution. [More]
