Links in “Credit/Debit Cards”
- CFPB’s Call Out for Credit Scores for Consumers from Credit Card Companies
CFPB called for credit card companies to make credit scores and related content freely available to their consumers. This on the heels of reports that credit reporting issues are the top complaint received from consumers to the Bureau. CFPB notes that knowledge of their reports is key for consumers and seeks enhanced clarity and awareness. [2/28]
- Retailer Data Breaches: 4 Million Reissued Cards and Counting
Community banks have already had to reissue 4 million credit cards at a cost of more than $40 million in response to recent retailer security breaches. [2/20]
- GAO to Congress: Require Banks That Disclose Agreements with Colleges
U.S. Government Accountability Office recommends that Congress require financial institutions that provide debit and prepaid card services to colleges to publicly disclose their agreements. Areas of concern include fees, ATM access and neutrality. [2/18]
- Cybersecurity: Remembering When Target Passed on EMV Technology a Decade Ago
Cyber security is a moving target and it may be next to impossible to stay ahead of the bad guys, but retailers, like their counterparts in the financial services industry, need to have some skin in the game. [2/14]
- Could Voice Biometrics be the Answer to Credit Card Security?
U.S. Bank is looking beyond chip and PIN to voice biometrics as a possible means of enhancing credit card security in the wake of recent retailer breaches. [2/13]
- Deferred Interest Cards Getting Regulatory Scrutiny
CFPB wants to make sure that health care providers and others offering deferred interest credit cards sufficiently explain to consumers how such cards work. [2/11]
- Decade of Credit Union Credit Card Growth
The percentage of credit unions offering credit cards grew from 43% in 2003 to 56% in 2013. [2/5]
- ABA: Target Breach Has Already Hit Banks with $150 Million in Card Replacement Costs Alone
ABA tells Congress that a preliminary survey of banks impacted by the Target data security breach indicates that 15.3 million debit and credit cards have been replaced to date at a cost of $5 to $15 per card. [2/5]
- Data Security as a Hot Topic: Will it Mean Tighter Security or Even Smarter Attacks?
Recent high-profile card and password breaches have made data security a hot topic. Will this spur banks to improve data security or make them an even more attractive target to bad players? [2/4]
- Metsger Advocates Chip-and-PIN Technology for Card Security
In his first article for the NCUA Report, new NCUA board member, Richard Metsger, wrote that the current security technology is too vulnerable to security breaches and that the Target breach may bring enough attention to this issue to move the industry towards greater security measures, such as the chip-and-PIN technology. [1/30]
