Preparing for a Liability Shift: Steps Banks Can Take as the CFPB Considers P2P Payments Fraud Regulation
The Consumer Financial Protection Bureau (CFPB) may be on the cusp of redefining liability in peer-to-peer (P2P) transactions fraud claims. For banks, the changes would not only entail significant financial consequences but also impose a nebulous new obligation of determining whether a consumer has been deceived. The COVID-19 pandemic ushered in new iterations of consumer […]
