ABA: SCAM Act will compel social media companies to protect consumers
By ABA Banking Journal Staff
AI Summary
The article highlights ABA President and CEO Rob Nichols' support for legislation aimed at compelling social media companies to protect consumers from scams. This follows the continued issue of fraudulent ads driving revenue without consequence.
Texas Relevance
The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. It discusses a broader regulatory stance by ABA regarding social media scams but is not specific to Texas credit unions.
Original Content
As long as fraudulent ads continue to drive revenue for social media platforms without consequence, more must be done to protect consumers, ABA President and CEO Rob Nichols said in a letter in support of legislation to crack down on social media scams. The post ABA: SCAM Act will compel social media companies to protect consumers appeared first on ABA Banking Journal .