Sen. Ossoff Presses Top Banking CEOs to Crack Down on Fraud Targeting New Mothers

Press Release

Last week, U.S. Senator Jon Ossoff pressed a panel of top banking CEOs to crack down on fraud targeting new mothers in Georgia and across the nation.

In a U.S. Senate Banking Committee hearing last week, Sen. Ossoff pressed Brian Thomas Moynihan, Chairman and CEO of Bank of America, to eliminate financial schemes preying on new mothers in Georgia and across the U.S.

Sen. Ossoff secured a commitment from Mr. Moyninhan to continue to address this issue and implement effective steps that will protect new mothers in Georgia who may be vulnerable to financial scams.

Please find a transcript of the exchange below:

SEN. OSSOFF: "Mr. Moynihan, I'd like to ask you a question about the vulnerability of various communities to fraud. There's been some discussion of Zell here, I'm particularly worried about scams and fraud that we've seen in Georgia targeting veterans, targeting new mothers. I'd like for you to just commit to following up with my office, your staff can follow up in my office about the steps that you're taking that you recommend, based upon what you've seen is effective to protect veterans and new mothers and families in Georgia and across the country from fraud. Will you do that, please?"

BRIAN THOMAS MOYNIHAN: "Sure, Senator, I think you may have missed it earlier. But we had a fairly robust discussion about all of commitments by all my colleagues and ourselves to continue to work on the fraud side of this."

SEN. OSSOFF: "I didn't miss it. I followed it closely, but I just like to hear from your team on how we can work together to continue to crack down on fraud. Thank you so much."

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