Fed’s Bowman Says Consumer Fraud Poses Risks to Financial System

The Federal Reserve’s top bank cop said that consumer fraud and scams pose increasing risks to the financial system, emphasizing that “nearly every fraud” affects a bank account or is...

By Katanga Johnson, J.J. McCorvey · Bloomberg Markets

The Federal Reserve’s top bank cop said that consumer fraud and scams pose increasing risks to the financial system, emphasizing that “nearly every fraud” affects a bank account or is tied to a payment that involves a bank account.