Bank of America led a list of the largest U.S. consumer banks in the number of customers using its online-banking services and in the intensity with which customers use those services, an Internet research firm said Monday.
The Senate Judiciary Committee held a hearing Wednesday on identity theft as it took up legislation introduced this week by Sen. Dianne Feinstein, D-Calif., who hopes to beef up federal laws and bring to everyone the protection currently enjoyed only by Californians.
The Identity Theft Assistance Center spares victims the hassle of contacting creditors individually and repeatedly having to prove their identity. By creating a rapid-response system, the center shortens the time thieves have to operate and builds evidence that can be used against them in court.
It has been close to three years since banks and non-banks jumped into the money transfer business with innovative products aimed at taking at least a sliver of market share from the likes of Western Union, MoneyGram and several regional players.