Fed moves ahead on Congress' plan to better protect Americans from credit card abusesSeptember 30th, 2009 Fed moves ahead on credit card protection planWASHINGTON — The Federal Reserve proposed rules Tuesday to better protect Americans from sudden hikes in interest rates on credit cards. The proposal would generally bar rate increases during the first year after an account is opened.
Citigroup sells $1.3 billion in credit card assets from 3 card portfoliosAugust 31st, 2009 Citi sells $1.3 billion in credit card assetsNEW YORK — Citigroup Inc. said Monday that it sold $1.3 billion in credit card assets as the bank reorganizes itself in the wake of government bailouts.
Accused Miami hacker accepts plea deal in record theft of millions of credit card numbersAugust 28th, 2009 Fla. man accepts plea in record data theft caseMIAMI — An accused computer hacker charged in what prosecutors call the largest identity fraud case in U.S. history has agreed to plead guilty to conspiracy, wire fraud and aggravated identity theft charges.
Miami man charged in record theft of credit card information in plea talks with prosecutorsAugust 27th, 2009 Man charged in record ID theft case in plea talksMIAMI — People close to the case against an accused computer hacker charged with stealing millions of credit and debit card numbers say he is in plea talks with the federal government. Two people, speaking on condition of anonymity because they are not authorized to discuss the plea talks, tell The Associated Press that Albert Gonzalez has been negotiating to plead guilty on two of the three cases against him.
Correction: Q&A on credit card reformsAugust 21st, 2009 Correction: Q&A on credit card reformsNEW YORK — In an Aug. 19 story about credit card reforms, The Associated Press erroneously reported that cardholders will face fewer surprises about credit limit changes under the new rules.
Credit card companies report montly improvement in account lossesAugust 17th, 2009 July credit card statistics improve over JuneMajor credit card companies are reporting monthly statistics for July, which in most cases show a slight improvement in the percentage of unpaid accounts written off as losses (net loss) and the percentage of accounts behind on payments for more than 30 days. Here's a summary of the major credit card suppliers reporting results for July compared with June.
Rate of losses on JPMorgan Chase credit cards declines in July, delinquencies improveAugust 17th, 2009 JPMorgan Chase credit card losses down in JulyNEW YORK — JPMorgan Chase & Co. said Monday that the rate of losses on its credit card loans eased up in July.
American Express warns some cardholders that their account data was stolen by an employeeAugust 13th, 2009 Amex cardholders' data stolen by employeeNEW YORK — Some American Express card members' accounts may have been compromised by an employee's recent theft of data, the company said Thursday. American Express Co.
Charming Shoppes to sell private label credit card program to Alliance Data for about $110MAugust 13th, 2009 Charming to sell private label credit card programBENSALEM, Pa. — Apparel retailer Charming Shoppes Inc.
Credit card cheat arrestedJuly 11th, 2009 NEW DELHI - A 23-year-old man has been arrested for allegedly cheating more than 75 credit card holders of more than Rs.4 crore, police said Saturday. "Ravi Kumar Sindhu, a resident of Paharganj area, was arrested from Sarojini Nagar area of south Delhi Wednesday.
Federal authorities say 6 peoploe have been arrested in Wall Street securities fraud caseJuly 8th, 2009 6 arrests in Wall Street fraud caseNEW YORK — Federal authorities say six people have been arrested in a securities fraud investigation involving a Wall Street brokerage firm. The case involves an alleged $140 million scheme that spanned a decade.
Citibank assistant manager held for fraudJune 22nd, 2009 NEW DELHI - An assistant manager of Citibank's Ludhiana branch has been arrested along with his two accomplices for committing fraud to the tune of Rs. 10 million, police said Monday.
Online Merchants now easily accept the world's popular non-credit-cardMay 30th, 2009 MUMBAI - PayByCash(r), a subsidiary of PlaySpanT, today announced the availability of the PayByCash CodeT, the most accessible pre-paid product for consumers in 180 countries. PayByCash's revolutionary new product provides consumers with a streamlined way to make Internet purchases.
Summary Box: Court ruling could upend the value of identity theft protection servicesMay 29th, 2009 Summary Box: ID theft ruling on fraud alertsTHE RULING: A federal judge in California has blocked LifeLock, one of the biggest purveyors of "identity-theft protection" services, from setting fraud alerts with a credit-reporting agency, Experian. The judge ruled that only individuals are allowed to set fraud alerts.
LexisNexis warns 32,000 people their personal data may have been viewed by former customersMay 2nd, 2009 LexisNexis warns 32,000 of possible data breachNEW YORK — The LexisNexis online information service is warning 32,000 people their personal information may have been improperly accessed in a credit card fraud scheme that postal officials say bilked hundreds. New York-based LexisNexis says in a letter mailed Friday that former customers of the service may have viewed information including names, birth dates and Social Security numbers.
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