Congressman Dan Meuser at FSC Financial Institutions Subcommittee Hearing
March 5, 2026
At today’s Financial Institutions Subcommittee hearing, I highlighted the growing fraud crisis facing Americans. The FTC reported $12.5 billion in fraud losses last year—and the real number is likely far higher.
From 2021–2024, the FTC reported scams and fraud increased 110% under the CFPB’s oversight. Results matter—even in government.
That’s why we’re advancing solutions like the SCAM Act to better protect consumers and stop fraud before it happens.