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News Release 2024-75 | July 10, 2024

Acting Comptroller Discusses Importance of Addressing Financial Fraud

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed ways banks can assist their customers in avoiding fraud and scams in remarks during the Financial Literacy and Education Commission’s Public Meeting.

In his written remarks, Mr. Hsu acknowledged the range of frauds and scams that result in significant annual losses to consumers and businesses. He further discussed efforts banks can take to inform their customers about scams and to implement strong controls to build and maintain consumer trust.

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