The Federal Communications Commission released a draft order that would rewrite the agency’s “revoke all” rule – an action that the American Bankers Association has long advocated. The FCC will vote on the draft order at its Sept. 30 open meeting.
Under the Telephone Consumer Protection Act, or TCPA, with limited exceptions, a bank or other business can place an autodialed or prerecorded voice call or text message only with the prior express consent of the called party. Called parties have the right to revoke their consent to receive the calls.
Under the revoke all rule, a bank or other business is required to treat a consumer’s revocation of consent under the TCPA to receive one type of call or message as a revocation of all consented-to calls and messages, even if that was not the consumer’s intent. Consequently, if a consumer responds ‘STOP’ to a text message from their bank on any…
THE TD BANK INSIDER “BRIBE-FOR-DATA” SCHEME (USA)
Date: February 17, 2026 Perpetrator: Edward Low (Former Bank Employee)
Case Description: In a high-profile case of “Insider Threat,” Edward Low, a former employee of TD Bank in New York, pleaded guilty in a New Jersey federal court to accepting bribes in exchange for confidential customer data. Between 2021 and 2022, Low leveraged his internal access to harvest the personal details of high-balance account holders. He then sold this “hot data” to external fraud syndicates for as little as $26,700 in personal kickbacks.
The external fraudsters used the information Low provided to conduct “Account Takeovers” (ATO), creating fraudulent checks and falsifying bank records to drain over $500,000 from unsuspecting customers. Low even went as far as helping co-conspirators open shell company accounts at a second financial institution where he was later employed. He now faces a maximum penalty of 30 years in prison. This case has sent shockwaves through the global banking sector, highlighting that even the most robust external firewalls cannot protect against a “rogue insider” with administrative credentials.
Link to Original: US Dept of Justice – TD Bank Insider Plea