Federal Reserve Steps Up Fight Against Consumer Fraud

Federal Reserve Vice Chair for Supervision Michelle W. Bowman said Tuesday (May 5) that she is raising consumer fraud as a priority issue for the Fed. In a speech delivered at the annual Women in Housing and Finance Symposium in Washington, D.C., Bowman said that she is doing so because “in addition to the individual harm to consumers, ultimately fraud threatens the integrity and reliability of our financial system.” Nearly every fraud affects a bank account, banks of all sizes are working to co