Washington, D.C. – Representatives Dan Meuser (R-PA) and Lou Correa (D-CA) introduced bipartisan legislation today titled “Safeguarding Consumers from Advertising Misconduct Act” (SCAM Act), aimed at tackling malvertising and bank impersonation scams.
BPI issued a statement of support:
“The SCAM Act is a bicameral, bipartisan legislative solution that everyone should support. Americans are shouldering higher costs and hardships due to the proliferation of fraud and scams, as nearly 3 in 4 U.S. adults have experienced some form of online scam or attack, many of which occur over social media and messaging platforms. We’re grateful for Representatives Meuser and Correa’s leadership in addressing this national crisis.” – Erik Rust, Senior Vice President & Head of Government Affairs
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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.
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