The three banks, which are among the seven financial institutions that own the popular person-to-person payments network, reimbursed only a tiny fraction of the thousands of fraud and scam victims between 2019 and 2023, according to a Tuesday report from Sen. Richard Blumenthal (D-Conn.), the chairman of the Senate Permanent Subcommittee on Investigations.
“They are simply not doing enough,” Blumenthal said ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.