Reporters and other staff with the Associated Press who covered the Summer Olympics in Greece carried stored-value Visa cards developed specifically for them by Card Services, an affiliate of the New York State Credit Union League. The card was developed over the past year in conjunction with Associated Press (AP) EFCU, New York City, to ensure AP's 300 staff members had funds at their disposal while they covered the XXVIII International Olympiad. The cards were reloadable, so they could be replenished with U.S. dollars, which were then converted to Euros that AP staff could access as cash at ATMs or for point-of-sale purchases. Each AP staffer received a Visa card with a predetermined set value from Bud Weydert, director of special events for AP. If additional value needed to be added to the cards, Weydert only had to e-mail Card Services, let them know which card(s) needed to be reloaded and with what dollar amount. The cards expire at the end of this year.
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Part of the growing "phishing-as-a-service" economy, the Spiderman kit offers novice hackers sophisticated tools to target customers of major EU institutions.
December 12 -
Banks may need to offer people over the age of 65 more than just digital experiences, according to an executive at J.D. Power, which surveyed more than 11,000 retail banking customers.
December 12 -
In a move some industry observers call "dangerous and irresponsible," the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.
December 12 -
Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
December 12 -
The Office of the Comptroller of the Currency Friday approved national trust charter applications for five crypto firms, affirming the administration's push to allow crypto companies the ability to take deposits.
December 12 -
Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
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