CFPB Jumps Into the Legal Fight Over Mobile Banking Fraud

Also, SEC gets $1.8 million bill in Debt Box case; venue whiplash continues in lawsuit over CFPB late fee cap

For several years running, consumer groups and Democratic lawmakers have been mounting a campaign to force banks to take more responsibility for fraud perpetrated on digital payment platforms. It’s a multimillion-dollar problem, where criminals steal money via mobile banking apps or websites. This week, the CFPB jumped into the fray – offering up a nove…