Banks’ Latest Outrage

Apparently scammers targeting seniors have had a big ally—banks. The New York Times is reporting that banks like Zions Bank of Salt Lake City and First Bank of Delaware have allowed unscrupulous marketers to illegally charge customer accounts for millions of dollars. Worse, banks are racking up profits by reaping fees from the intermediary payment companies handling the transactions. The Justice Department says it is considering actions against a handful of banks that engage in these practices.