Banking Issues and Trends

The topic page covers a wide range of issues and trends in the banking sector, focusing on customer experiences, regulatory actions, and market dynamics. Key points include the rise of digital banking, customer service challenges, and significant legal and financial settlements involving major banks like Wells Fargo. Articles discuss the impact of political pressures on the Federal Reserve, the financial struggles and bankruptcy of companies like Rite Aid, and the evolving landscape of digital banking. The content also highlights consumer protection efforts by agencies like the Consumer Financial Protection Bureau (CFPB) and the importance of secure banking practices, especially in the context of social media.

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Beware the new ATM ‘trap door’ scam

This low-tech scheme started in Philadelphia but will likely spread

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Philadelphia police have uncovered a growing ATM scam involving hidden “trap-door” devices that steal cash from unsuspecting users.

At least nine incidents have been reported across the city since mid-March, with machines tampered with in stores and neighborhoods citywide.

Investigators warn that the low-tech scheme could easily spread to other cities as criminals replicate the tactic.

ATMs are a favorite target of scammers. Unlike credit card skimmers, the prize here is a ...

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