Analytics

Five more credit unions have agreed to settle pending civil suits alleging they violated the Electronic Funds Transfer Act’s fee-disclosure provisions, but at least one of the settlements is raising questions about the more than three dozen suits filed against credit unions and banks by a Michigan retiree and her boyfriend.

Data-security vendors generally acknowledge they are up against extremely high-tech, organized and relentless cybercriminals looking to steal identities and payment card data to execute fraudulent transactions.

The economy may not be booming, but new data show that personal bankruptcies in 2011 declined for the first time in four years, providing another positive sign for consumer credit card performance.

Experian, the global credit information firm, reported Tuesday that revenue grew 12% in the three months ended Dec. 31, helped by earlier acquisitions and steady growth in emerging markets.

The economy may not be booming, but new data show that personal bankruptcies in 2011 declined for the first time in four years, providing another positive sign for consumer credit card performance.

An estimated 1.9 million homes entered the foreclosure process in 2011, the lowest mark since 2007 when the recession began, according to a report by the foreclosure listing firm RealtyTrac Inc.

Credit card users have been unusually diligent in paying off their bills recently in the wake of the financial crisis. Their discipline slipped a bit late last year, however, which led revolving credit to post a surprise jump in November.

JPMorgan Chase & Co. has quietly ceased filing lawsuits to collect consumer card and other debts around the nation, dismissing in-house attorneys and virtually shutting down a collections machine that as recently as nine months ago was racking up hundreds of millions of dollars in monthly judgments.

To the editor:

Three data-security and payment processors have linked technologies to create a cloud-based advanced encryption payment system designed to protect payment card data and provide storage away from Columbia Sportswear Co. point-of-sale terminals.

JPMorgan Chase & Co. has quietly ceased filing lawsuits to collect consumer card and other debts around the nation, dismissing in-house attorneys and virtually shutting down a collections machine that as recently as nine months ago was racking up hundreds of millions of dollars in monthly judgments.

The number of companies caught in data breaches exposing consumers' credit, debit and bank account numbers is growing, but the best way to make amends to customers is not yet clear.

Though Facebook members generally reveal much about their private lives in what amounts to an open forum when posting information on the social media site, they are not as trusting when it comes to spending money on the site.

Intel Corp. is using an authentication system from SecureKey Technologies Inc. in its Ultrabook computers.

Acquirers may be wrong if they believe they can coerce small merchants into complying with security standards by charging them fees.

It appears it might take at least a few more painful payment-terminal tampering breaches like those Lucky Supermarkets and Michaels Stores Inc. experienced last year before U.S. merchants and card issuers take action to support EMV chip cards.

The sluggish market for credit card portfolios may pick up this year, if card losses continue to abate and potential buyers stay on the path of rebuilding capital.

Acquirers should mention security to merchants more often. A lot more often–every time they make a sales call, field a complaint, explain a regulation, solve a technical problem, send an email message, mail a monthly statement or launch a direct-mail campaign.

The number of companies caught in data breaches exposing consumers’ credit, debit and bank account numbers is growing, but the best way to make amends to customers is not yet clear.

Consumers have long memories when it comes to a loss of trust in a bank or card company from a data breach. The damage from a spate of high-profile consumer data breaches over the past year appeared to bruise trust in several major brands, including that of Citigroup Inc.