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Customer groups urge more scrutiny of banking institutions as well as other re payment processors and ban on remotely developed checks

Thirty teams have written into the CFPB, FTC, Department of Justice and banking that is federal urging them “to closely monitor the re payment processing procedures and conformity safeguards set up” during the re payment processors and banking institutions they supervise and “to take quick action” once they find inadequate safeguards and extortionate appropriate, reputational or any other dangers. The customer teams known as in the October 24, 2013 page included the nationwide customer Law Center, customer Federation of America, Consumers Union and Center for Responsible Lending. Read More