PayPal formally applies for U.S. bank charter

PayPal formally applies for U.S. bank charter

PayPal Holdings Inc. has taken a significant step in its push to enhance financial services by formally applying for a U.S. bank charter. The company submitted its application to the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial...
Fraud Loss Insurance and Multi-Factor Authentication

Fraud Loss Insurance and Multi-Factor Authentication

Account takeover fraud is a growing financial risk as attackers exploit weak password systems. 86% of breaches involve stolen credentials, leading to significant losses for U.S. businesses, often in the six- or seven-figure range annually. Insurers now require...
How Insurance Can Reduce Revenue Volatility in Lending

How Insurance Can Reduce Revenue Volatility in Lending

Every fraudulent application results in lost revenue, disrupted operations, and slower growth. For credit unions and lenders, identity fraud can shake margins, increase costs, and make cash flow unpredictable. With identity fraud insurance, those losses can be...
What is Identity Fraud Loss Insurance?

What is Identity Fraud Loss Insurance?

TL;DR Fraud is hitting every business—from banks and credit unions to fintechs and online platforms—and it’s getting more sophisticated. Identity Fraud Insurance helps businesses protect themselves by reimbursing financial losses when fraud occurs. When combined with...
Why Policy Makers Must Act on Identity Fraud

Why Policy Makers Must Act on Identity Fraud

At Identity Week 2025 in Washington, D.C., the conversation on fraud and identity made one fact clear: fraud is inevitable. What matters is how the industry responds. Identity fraud insurance can play a crucial role in this response, as losses do not need to remain...