First Premier Bank ripoff, victim of identity ACH purchases generating from Scholastic or First Premier Bank theft/fraud, ..Let's get um' Sioux Falls/ Online Sioux Falls South Dakota

I was a victim of identity theft/fraud. Numerous online purchases were made via my checking account/routing information. At least 10 of the purchases were made to SCHOLASTIC in names other than my own.

I later learned "Betsy Ross" could use my checking info attached to HER name and it would be accepted for payment. I was told the bank's electronic system was not sophisticated enough to detect fraud. It is up to the customer to inform the bank and seek reimbursement.

Anyway, I began to think...Why would a moron who would stoop low enough to steal...steal books? All the Scholastic purchases were placed through First Premier Bank based in S.D. I think another company may be doing business under their name (maybe not). Two of which, are all related to the same marketing company based in Southern California.

I am wondering what it takes to obtain an ACH (electronic purchase)Machine. Who regulates this? Are there guidelines, laws are regs the bank must follow? Are banks required to make the individual(s) produce a business license and legitimate identification prior to issuance? Anyone else with unauthorized ACH purchases generating from Scholastic or First Premier Bank (especially in S. California), please respond!

Ginger
Corona, California
U.S.A.