IBAT reported last week on a lawsuit filed by Buckholts State Bank against Navy Federal Credit Union for failing to monitor fraudulent activity, enabling the proliferation of check fraud.
Over the last year, IBAT has continually raised the flag on check fraud and the big banks’ failure to prevent the fraud or reimburse affected financial institutions when they are the bank of first deposit for an altered, fraudulent item.
As IBAT seeks to keep this issue top-of-mind for lawmakers and regulators, it needs your updated data on issues related to check fraud.
Once again, IBAT is asking members to complete a survey that will help lawmakers and regulators understand the scope of check fraud. This data will be useful as IBAT takes the community banking voice to Washington, D.C. for its 31st Annual Congressional Visit, February 25-26. It will also be important information to share with lawmakers in Austin as IBAT seeks expanded funding for the Financial Crimes Intelligence Center in Texas.
Please complete the survey by Friday, February 21.
