Fraud continues to plague the payments system — and regulators are asking for answers. The company argued regulators should support “outcomes-based regulation” that allows innovation in artificial intelligence (AI). “Education is one of the most effective tools in preventing fraud — particularly when tailored to the community level,” per the letter. The credit union proposed templated campaigns that could be localized by smaller institutions, along with targeted efforts to reach vulnerable populations such as older adults. First Service Credit Union pressed for updates to Regulation CC and Regulation E to better reflect fraud trends in mobile deposits and social engineering scams.