DAYTON, Ohio - (04/26/05) -- ATM manufacturer NCR Corp. said ithas introduced new technology that detects skimmers and otherdevices attached to ATMs aimed at stealing customers' cardinformation. The Fraudulent Device Inhibitor also defends againstthe introduction of card-trapping devices that hold the card in themachine for the fraud artist to withdraw it once the customerleaves the ATM. The FDI is placed in front of the entrance to theATM card reader and is designed to prevent an ATM customer frominserting his or her card into the machine if a trapping device hasbeen added to the card reader. At least one credit union, CommunityCU, in Texas, reported an electronic device aimed at capturing cardusers' data was inserted into one of its ATMs in Allen,Texas.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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