Adam Rust, Director of Financial Services submitted a Statement for the Record addressing the Senate Committee on Banking, Housing, and Urban Affairs. It emphasizes the need for the Consumer Financial Protection Bureau to publish an annual report on payment fraud. Rust highlights the growing issue of payment fraud, including scams through digital wallets and payment apps, check fraud, and wire transfer fraud. The statement suggests that such a report would enhance public awareness, aid policymakers, and help combat fraud, advocating for a detailed approach that includes data on payment type, fraud method, and demographic characteristics of victims.