Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
Two businessmen have been convicted in U.S. District Court for the Southern District of New York of helping a California-based cannabis company avoid bank flags for illegal cannabis-related transactions. A New York jury found...more
Last month, the Northern District of Georgia issued a strongly pro-insurer decision holding that a policy insuring computer fraud did not provide coverage for $11.4 million in fraudulent debit card redemptions made over the...more
We’ve talked a fair amount about the switch to chip & pin card systems over the past few years. But how about a lack of cards altogether? Because that’s what the banks have in mind....more
Most credit and debit cards in the U.S., and the point of sale terminals and ATMs that read them, still use “magnetic stripe” technology. Magnetic stripes are obsolete and relatively insecure, allowing fraudulent practices...more
Companies can be fined by the federal government for failing to properly safeguard consumer data, according to a decision this week by Pennsylvania's federal appellate court....more
With the October 1, 2015 liability shift deadline looming, merchants who have not yet made the change continue to evaluate the cost of accepting EMV cards versus the liability that will shift from the issuer to the merchant...more
It was recently reported that a worker at a Pennsylvania McDonald’s sued her employer, a McDonalds’s franchisee, because she was required to receive her pay in the form of a debit card that carried hefty charges for virtually...more