360° Coverage : This Week In Credit Card News--Buying Pot With Your Card, Target...

2 Updates

This Week In Credit Card News--Buying Pot With Your Card, Target Breach Could Now Affect 110 Million People

Jan 10 2014, 2:55pm CST | by

Target Breach Affected up to 110 Million Customers Target extensively revised the estimated number of customers exposed by the widescale hack of its data during the holiday season, disclosing that...

Filed under: news

 
 
 

33 weeks ago

This Week In Credit Card News--Buying Pot With Your Card, Target Breach Could Now Affect 110 Million People

Jan 10 2014, 2:55pm CST | by

Target Breach Affected up to 110 Million Customers

Target extensively revised the estimated number of customers exposed by the widescale hack of its data during the holiday season, disclosing that 70 million to 110 million people had their personal information stolen. Target, which originally said on Dec. 19 that about 40 million in-store customers had debit and credit card data stolen between Nov. 27 and mid-December, also revealed that additional types of information–mailing and email addresses, names and phone numbers–were hacked. [New York Times]

Card Conundrum Develops in Colorado Over Marijuana Sales

Paying for marijuana with plastic is getting easier in Colorado. The official rules of Visa and MasterCard prohibit the use of their debit and credit cards for marijuana purchases, but some Colorado merchants are allowing customers to use them anyway. That is because the card giants, owners of the processing networks that handle electronic payments, have quietly decided not to enforce their rules, according to people familiar with their strategies. [The Wall Street Journal]

How Hack Attacks Can Cost You Money

In hack attacks like the one at Target, consumers are not likely to suffer too much. Individuals will have to cancel their accounts and wait for replacement cards, but banks will take the financial hit. It’s a much bigger problem when criminals make off with lists of usernames and passwords, as they did by hacking Adobe in October. Cybersecurity experts say that makes it easier to break into your email–and after that, everything else. [CNN Money]

Consumer Debt Grows at Slowest Pace in Six Months

Americans’ nonmortgage debt grew in November at the slowest pace in six months. The weaker growth largely reflected consumers pulling back on their credit card borrowing. So-called revolving credit grew at a 0.6% rate in November, down from a sharp 5.6% rise in October. [The Wall Street Journal]

Top Ten Signs of Identity Theft

Recent security breaches at Target show that personal information, email, credit cards and bank accounts are not as private and protected as we think. It is important for consumers to recognize suspicious activity and take steps to protect themselves. Here are the top 10 signs of identity theft. [LowCards.com]

Credit Card Swipe Fee Set to Enter Next Round

The eight-year-long fight between retailers and MasterCard and Visa over credit card swipe fees is expected to last another year or longer. The National Retail Federation is appealing a controversial settlement of a swipe fee lawsuit that was approved December 13 by U.S. District Judge John Gleeson in federal court in Brooklyn. [NewJersey.com]

Steep Penalties Taken in Stride by JPMorgan Chase

To settle a barrage of government legal actions over the last year, JPMorgan Chase has agreed to penalties that now total $20 billion, a sum that could cover the annual education budget of New York City or finance the Yankees’ payroll for 10 years. But since the financial crisis, JPMorgan has become so large and profitable that it has been able to weather the government’s legal blitz. [New York Times]

Target Breach Won’t be the Last Identity Theft

Consumers still will feel the aftershock of one of the largest retailer data breaches ever, which took place between Nov. 27 and Dec. 15. Identity theft is bound to be an even hotter topic in 2014. [Detroit Free Press]
/>

NY Transit Agency Plans to Turn Smartphones Into Subway Passes

The New York City MetroCard turned 20 years old this week, it will soon be a souvenir of the city’s past. The plastic and paper MetroCards are expected be replaced with near-field communication or radio frequency technology that allows riders to use key chains, credit cards or their smartphones to tap rather than slide through subway turnstiles or dip into bus buckets. [NBC News]

LowCards.com Weekly Credit Card Rate Report

Based on the 1,000+ cards in the LowCards.com Complete Credit Card Index, the average advertised APR for credit cards is 14.48%, slightly higher than last week’s 14.46% average. Six months ago, the average was 14.34%. One year ago, the average was 14.34%. [LowCards.com]

Provided by LowCards.com

Source: Forbes Business

 
Update
2

3 days ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

4 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Return as India's envoys, Modi to India-bound Japanese youth
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday kicked-off a new initiative on training for Japanese youth started by Tata Consultancy Services (TCS) at its various facilities in India, asking them to return to Japan as India's ambassadors.
 
 
Scientists get ready for mock on-site nuclear inspection
Washington, Sep 2 (IANS) Some 40 scientists and technicians from around the world will descend on Jordan in November to take part in a simulated on-site inspection of a suspected nuclear test site on the banks of the Dead Sea.
 
 
Russian space 'sex geckos' found dead
Moscow, Sep 2 (IANS) Four female lizards and one male who were sent to space to understand the effects of weightlessness on sexual intercourse have died, the Russian Space Agency said in a statement.
 
 
Nigeria to get Japanese drug for Ebola treatment
Abuja, Sep 2 (IANS) Nigeria will soon get a Japanese drug to treat Ebola, the country's Health Minister Onyebuchi Chukwu said Monday.
 
 
 

Latest from the Network

Carrie Underwood announces pregnancy
Los Angeles, Sep 2 (IANS) Country star Carrie Underwood and NHL player Mike Fisher have announced that they are expecting their first child. Underwood and Fisher posted the news on their social media accounts Monday,...
Read more on Celebrity Balla
 
Look at India, Modi tells Japan
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday hoped Japan will follow "Look at India" policy. "Just as India is focusing on Look East policy, we expect Look at India policy from Japan," Modi said, adding...
Read more on Politics Balla
 
Return as India's envoys, Modi to India-bound Japanese youth
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday kicked-off a new initiative on training for Japanese youth started by Tata Consultancy Services (TCS) at its various facilities in India, asking them to return...
Read more on Politics Balla
 
Scientists get ready for mock on-site nuclear inspection
Washington, Sep 2 (IANS) Some 40 scientists and technicians from around the world will descend on Jordan in November to take part in a simulated on-site inspection of a suspected nuclear test site on the banks of the...
Read more on Apple Balla
 
Sam Smith was in love with straight man
Sam Smith fell in love with a straight man. The 22-year-old star - who opened up about his own sexuality earlier this year - has now revealed the man who inspired the heartbreaking lyrics to many of the tracks on his...
Read more on Celebrity Balla
 
Diana Ross hosts 'farewell barbecue'
Diana Ross hosted a ''farewell barbecue'' for Evan Ross and Ashley Simpson. The 70-year-old star threw the party for her son and his new bride the day after their wedding to wish them well on their journey into married...
Read more on Celebrity Balla
 
Family dinners protect kids from cyber-bullying
Toronto, Sep 2 (IANS) Make it a point not to miss family dinners to connect with your kids and help them cope with cyber-bullying. Like traditional bullying, cyber or internet bullying can increase the risk of mental...
Read more on Celebrity Balla
 
Maradona meets Pope at 'Match for Peace'
Rome, Sep 2 (IANS) Argentine football legend Diego Maradona briefly met Pope Francis, an avid football fan, before the start of 'Match for Peace' exhibition game and presented him with an Argentina shirt. Pope Francis...
Read more on Sport Balla
 
India committed to peace: Modi
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday said that India is committed to peace and this commitment has "significance far above any international treaties or processes". "Commitment to peace and non-...
Read more on Politics Balla