debit cards

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Mastercard Brings Hammer Down on Pot Purchases

Company says it's banning cannabis transactions on its debit cards, as cannabis isn't legal federally

(Newser) - Looking to pick up some pot at the dispensary? Don't pull out your Mastercard. On Wednesday, the payment processing company announced it had informed financial institutions that it would not be allowing marijuana purchases on its debit cards, in what Reuters describes as "a blow to an industry...

Mastercard Users, Say Goodbye to the Magnetic Stripe

Card issuer is doing away with them entirely by 2033

(Newser) - The magnetic strip will soon be a thing of the past for Mastercard users. The card company plans to do away with the strips on all of the credit and debit cards it issues by 2029, and the cards will have been completely phased out by 2033. New cards will...

Bank Robber Used His Own Debit Card
Bank Robber
Used His Own
Debit Card
Jan 5, 2017 11:14 AM CST

Bank Robber Used His Own Debit Card

Before warning the teller, 'Don't make a mistake'

(Newser) - A man entered a San Diego bank on May 13 and demanded money from a teller, saying, "You're being robbed. Don't make a mistake." He's probably kicking himself over his own gaffe, which helped send him to prison for three years and 10 months as...

Netflix Claims Credit-Card Chips Messed Up Its Growth

Not everyone is buying finger-pointing at new fraud-prevention technology

(Newser) - Everyone who is too lazy or forgot to update their credit card numbers online can blame themselves for Netflix's slow US subscriber growth. That's the company's excuse, anyway, revealed in a Wednesday letter to shareholders that says it didn't hit its subscriber growth forecast partly due...

Home Depot Breach May Be Bigger Than Target's

Chain looks into 'unusual activity' of credit card data

(Newser) - If you shrugged off the recent celebrity hack of private photos, along with the massive Target breach last year, here's one more punch: Home Depot is investigating a potential breach of customer data from credit and debit cards, reports Reuters . The scoop originally came from Brian Krebs of Krebs...

FBI: More Target-Style Hacks on Way

20 other cases used similar malware in past year

(Newser) - A warning to shoppers: More cyber attacks like this one and this one are coming, according to a three-page confidential FBI report seen by Reuters , a determination the FBI made after finding some 20 hacking cases in the last year used the same type of malware as in the Target...

Target Shoppers: Chase Limits Use of Debit Cards

JPMorgan Chase reacts to data breach 3 days before Xmas

(Newser) - Still planning to shop at Target after its cache of debit and credit cards was hacked ? Hold on: JPMorgan Chase has limited its debit-card customers to $100 in withdrawals and $300 in total purchases daily at Target stores, NBC News reports. That only applies to roughly 2 million Chase...

This Woman's Job: to Make You Like BofA

Anne Finucane juggles politicians, shareholders, and customers

(Newser) - Anne Finucane has one of the hardest jobs in the country: to make us like Bank of America. The high-powered image-maker juggles politicians, interest groups, and her own boss—BofA President Brian Moynihan—in an ongoing effort to resuscitate the bank's flailing reputation and lowly stock price since the...

How a College Grad Helped Sink BofA's Debit Card Fee

'That is it. I'm sick of this,' Molly Katchpole said of the bank plan

(Newser) - Bank of America's $5-debit-card-fee hit the dustbin after "a great deal of feedback from customers," it said—but the bank didn't mention a 22-year-old college grad who got angry enough to rally 360,000 signatures against the plan. "I heard the news about the fee...

Bank of America Caves, Will Ditch $5 Debit Fee

Sources tells the WSJ an announcement will be made today

(Newser) - Score one for the little guys: Following in the footsteps of pretty much everyone else , Bank of America is backing off its plan to slap a $5 monthly fee on customers who use their debit card, a source tells the Wall Street Journal . The source says the decision, which was...

BofA Offers More Ways Around $5 Debit Fee

$20K minimum balance isn't the only option

(Newser) - Turns out Bank of America customers won't have to maintain a $20,000 bank account to avoid monthly debit fees after all. With other banks canceling debit fee plans, BofA will now offer customers other means of avoiding its $5 monthly debit card payment —like having paychecks directly...

Geithner on BofA Fees: We Will Prevail

Treasury secretary slams new debit card charges

(Newser) - Tim Geithner joined President Obama in railing against Bank of America last night on CNN , promising that the White House will get tougher in the fight against new fees. The Obama administration is "going to push back harder,” said the Treasury secretary, who noted that the $5 monthly...

Dems Target BofA on Debit Card Fees

New bill would help bank customers move money

(Newser) - Two Democrats in Congress are planning to strike back at Bank of America with a direct hit to the wallet, the Huffington Post reports. With BofA instituting a $5 monthly debit card fee to many consumers , Senate Majority Whip Dick Durbin and Rep. Brad Miller are mounting legislation that would...

Bank of America to Charge Debit Users $5 a Month

To make up for new regulations

(Newser) - Bank of America customers beware: Your debit card is about to get a lot more expensive. The bank intends to start charging many customers $5 a month if they use their debit cards, in what the company says is an effort to offset new federal regulations limiting the fees it...

Banks Lose Fight Over Debit Card Fees

Senate fails to delay new rules slicing payments from retailers

(Newser) - The Senate voted today to let the Federal Reserve slice the fees that stores must pay banks each time a customer swipes a debit card, handing merchants a victory over banks in a lobbying battle over billions in revenue. Senators supporting the banks' efforts to head off the proposal fell...

As Debit Cards Catch Credit, Banks Cash In

Consumers see way to limit spending; banks adjust fee tactics

(Newser) - Credit is no longer the king of cards, Business Week reports. As banks get stingy with credit and consumers look for ways to reel in their "charge it" ways, more and more are turning to debit cards—so many, in fact, that Visa projects debit spending could exceed credit...

Feds Nab 11 Cybercrime Masterminds
Feds Nab
11 Cybercrime Masterminds
Aug 5, 2008 3:49 PM CDT

Feds Nab 11 Cybercrime Masterminds

40 million credit and debit card numbers stolen across US

(Newser) - An international crew of hackers who reportedly stole more than 40 million credit and debit card numbers from nine US companies were indicted today in what Attorney General Michael Mukasey is calling "the single largest and most complex identity theft case that's ever charged in this country." The...

17 Stories