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Saturday, December 20, 2014
Consumer Credit, Debit Spending Rise Over Thanksgiving Weekend
RANCHO CUCAMONGA, Calif. — Consumers swiped and clicked their plastic over Thanksgiving weekend, as analysis from multiple sources found credit spending increased almost 13% while debit spending increased nearly 7%, compared with last year.
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As consumer credit card holders in the United States continue to rack up increasing amounts of debt, some industry experts fear the situation may be close to a "tipping point" that could culminate a new wave of defaults and delinquencies. more »
Three former stars of the National Football League are acting as "ambassadors" for a credit card promotion by $18.5 billion Pentagon Federal Credit Union. more »
Target Corp. (TGT) must defend itself against claims that its failure to shield computer systems allowed hackers to steal the account data of millions of shoppers, forcing banks to reimburse fraudulent charges and issue new credit and debit cards. more »
People's Credit Union said it will offer its members surcharge-free access to ATMs at all 43 Rite Aid pharmacies in the state of Rhode Island. more »
MIDDLETOWN, R.I. — To make a more personal connection with members, The People's Credit Union offers a personalized debit/credit card program that has attracted hundreds of responses. more »
WASHINGTON — Payment operators should prioritize consumer protection as bad actors access networks like the automated clearing house and the industry tries to increase transaction speeds, a key regulator said Thursday. more »
Michelle Thornton has some advice for credit unions that haven't started planning their EMV conversion: Don't panic yet. more »
The vast majority of credit unions in the U.S. don't have adequate insurance coverage in the event of another online data breach. more »
SF Police CU has begun the process of converting its Visa card holders' plastic from magnetic stripe cards to EMV. more »
RANCHO CUCAMONGA, Calif. — The road to EMV has been bumpy-as technological, legal and business issues prompted two years of delays, but the Oct. 15, 2015, deadline is now less than a year away. more »
WASHINGTON—The war of words between credit unions and merchants over data breaches continues to escalate, but it remains to be seen what effect the new Republican majority in Congress will have on the battle. more »
WASHINGTON — The data security breach at Home Depot stores in September cost credit unions $57.4 million to cover card reissuance, plus fraud and other expenses, according to a new survey released Thursday by CUNA. more »
Credit unions make up a substantial number of the financial institutions that have enrolled with Apple Pay, and some unofficial lists suggest the majority of early uptake is coming from credit unions. more »
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