ACU Fraud Task Force Reassesses Policy Fixes As Scam Costs Climb
By CU Today Staff —
WASHINGTON--In search of policy solutions to fight the increasing costs of fraud and scams, America’s Credit Unions’ Fraud Task Force met Thursday for its monthly meeting. The task force recapped Park Community Credit Union General Counsel Kate McKune’s testimony last week for a hearing on financial institutions working to prevent fraud.
McKune testified before a House Financial Services subcommittee last week on the need for an “all-of-government” approach to fighting fraud, a statement also echoed by committee leaders.
The task force discussed ways to keep the issue top of mind with Congress, especially to emphasize that the current framework isn’t adequate against skyrocketing fraud costs.
The group also discussed three draft bills discussed at the hearing:
Advocacy and compliance resources are available on America’s Credit Unions’ website.
Originally reported by CU Today.