Check Scams Prompt Banks To Lower Deposit Limits

Due to an increase in check fraud, some banks are lowering their mobile-deposit limits. Fidelity Investments has dramatically cut the limit from $100,000 to $1,000 for certain customers after a trending scheme resulted in a number of bad checks being cashed. “We recently identified individuals attempting to commit fraud using their Fidelity accounts,” a Fidelity spokesperson said. “We have no tolerance for any type of illegal activity.” (MSN)