The Federal Trade Commission (FTC) is reporting a sharp increase in fraud relating to health and safety items like face masks and paper products. Since the beginning of March, many purchasers have described paying online stores for face masks and toilet paper but never receiving the products that they ordered. Scammers took their money as well as […]
Limits Placed on Convenient Transfers from a Savings Account Have Lifted
Great news! At a time when events around the coronavirus pandemic have made access to funds more urgent, we are excited to be able to make things a little easier for our customers. You can now make an unlimited number of convenient transfers and withdrawals from your savings account(s), without fear of incurring fees for going above […]
Phishing Text is Newest Coronavirus Scam
Local news and police departments are warning of a new scam where consumers are receiving a text message claiming they have come in contact with someone who tested positive for COVID-19, or is showing symptoms of the virus. The text instructs the individual to self-isolate, and provides a link for the consumer to click for more information. […]
Mobile Deposit of Government Stimulus Checks
While government checks are not normally eligible for mobile deposit, a temporary exception has been made to ensure customers are able to deposit stimulus checks without needing to visit a branch. Please note the following when depositing checks from your mobile device:All check payees must be listed on the account where the check is being deposited Proper […]
Retirement Plan Related Provisions of the CARES Act and SECURE Act
The Coronavirus Aid Relief and Economic Security (CARES) Act contains many retirement plan related options designed to assist the millions of Americans affected by the pandemic. While we advise that you consult with your tax advisor to review all the details of the CARES Act and how it applies to your specific situation, there are some […]
Health-Related Provisions of the CARES Act
Many people are aware that the date for filing your taxes and making IRA contributions for the 2019 tax year has been moved to July 15, 2020. We wanted to be sure that our customers were aware that the same is true for the 2019 tax year for Health Savings Account (HSA) contributions. There are some […]
Beware of COVID-19 Fraud Schemes
During these difficult times, fraudsters are relentless with their attempts to defraud individuals and organizations. In fact, the FTC has reported that Americans have lost nearly $12 million on coronavirus-related scams to date. The surge of teleworking has also increased vulnerabilities to corporate networks by hackers. Common schemes you should be aware of are:Fake emails that appear to […]
Beware of “Zoom-Bombing” and Malicious Attacks on Video Conferencing Software
Our Risk Management Department have received reports of an increase in malicious attacks on video conferencing software such Zoom and WebEx. The use of video conferencing has increased significantly in recent weeks, as the COVID-19 health crisis has forced many of us to work from home. The convenience of video-conferencing has proven invaluable at this time, as […]
Stimulus Check Related Fraud Reported
As you likely know, many Americans will be receiving checks as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. Unfortunately, this has already generated criminal activity. Please remember:The U.S. government has indicated that they will not call or email any American citizen to gather your social security number, bank information or debit card information. Requests […]
CFPB Offers Guide to Coronavirus Mortgage Relief
The Consumer Financial Protection Bureau (CFPB) has outlined financial relief options for mortgage borrowers who may be facing hardship as a result of the Coronavirus pandemic. The CFPB advises that borrowers who are able to make their mortgage payments should continue to do so. For borrowers unable able to make regular mortgage payments, the CFPB recommends they […]