Washington, D.C. – The Bank Policy Institute issued the following statement in response to the Federal Trade Commission’s advance notice of proposed rulemaking today on impersonation scams:
“We support the FTC’s proposal today to protect consumers from impersonation scams. The FTC rightly notes that these scams ‘have been amplified by search engine, social media, and other digital marketplace platforms that profit from optimizing online ads for third parties, regardless of whether the third parties are legitimate.’
The framework would demand greater accountability from platforms where these scams spread and find new victims. We look forward to reviewing the proposal in detail and providing comments.”
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About Bank Policy Institute
The Bank Policy Institute is a nonpartisan public policy, research and advocacy group that represents universal banks, regional banks and the major foreign banks doing business in the United States. The Institute produces academic research and analysis on regulatory and monetary policy topics, analyzes and comments on proposed regulations, and represents the financial services industry with respect to cybersecurity, fraud and other information security issues.
Media Contact
Sam Fabens
Bank Policy Institute
sam.fabens@bpi.com
