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07/10/2025
Federal banking agencies seek information on actions to address payments fraud
Consumer Finance Monitor
On June 20, 2025, the Office of the Comptroller of the Currency (OCC), Treasury, the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) announced they are seeking public input on questions related to payments fraud. This Request for Information (RFI) asked interested stakeholders to comment on ways that the OCC, the FRB, and the FDIC could take actions collectively or independently to help consumers, businesses, and financial institutions mitigate check, automated clearing house (ACH), wire, and instant payments fraud. Comments are due September 18, 2025.
The RFI defines “payments fraud” as “the use of illegal means, including intentional deception, misrepresentation, or manipulation, to make or receive payments for personal gain.” The term “payments fraud” also includes scams, a subset of fraud.
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