Links in “Credit/Debit Cards”

In response to customer backlash during the busiest shopping and travel period of the year, JPMorgan Chase eases its limits on card usage of its 2 million customers who used debit cards at Target during its data breach. Instead of $100 cash withdrawal and $300 in purchase limits, the nation's biggest bank increased limits to $250 and $1,000 respectively. [12/24]

The massive data breach at Target stores involving more than 90 million credit and debit cards may mean huge losses for credit unions.  The theft of the mag stripe data means that criminals have all of the information they need to manufacture new fraudulent cards to access member accounts. [12/20]

CARD Act's impact on issuers of credit cards to students reflected in key stats: fewer college card agreements (-41%), less pay to colleges and universities (-40%), fewer new college accounts opened (-18%). More calls for transparency between card issuers and higher education recipients who promote. [12/19]

Increasingly, credit unions are taking the approach that the more information they share about card breaches and fraud with their members and other credit unions, the more effective everyone will be in combating fraud. [12/18]

Banks lost $943 million to debit card fraud, 54% of all deposit account fraud, according to a recent ABA survey. [12/13]

First Data, a debit and credit card processor for hundreds of credit unions, has been restructuring operations since a leveraged buyout in 2007. A company spokesman said the layoff of over 500 employees in its Denver location is one of many steps being taken to return the company to profitability. [12/3]

A tip of the hat to Bank of America for its video to teach consumers the difference between a debit card and a credit card. [11/27]

Director Cordray signals that CFPB will be considering the need for additional protections for credit card rewards programs. [11/21]

This article provides seven reasons for applying a variable APR to your credit cards. With interest rates expected to rise and funding costs likely to increase, variable rate pricing may be your best risk management strategy. [11/6]

Criminals posing as private investigators trick Experian into selling them social security numbers, drivers licenses numbers, bank account and credit card info on possibly millions of Americans. [10/24]