Compliance

Golden 1 Credit Union reported that approximately 67,000 members were affected by the massive Target Corp. card data breach. The credit union will replace all of their debit and credit cards.

Target Corp. faces almost two dozen lawsuits filed by customers after a computer security breach exposed data on 40 million debit and credit cards.

Don't let Target's breach of 40 million payment cards overshadow a much scarier incident at Adobe in recent months.

The Minneapolis-based bank has been using mobile and digital watermark technology internally at board meetings to add multimedia elements to what would otherwise be static reports. It is now extending that technology to shopping and payments.

A week ago Sunday at about 10:00 a.m., Jim Wells was on his way from church to a grandson's birthday party, when he popped into Target to pick up a gift. By the time he returned home from the party at about 3:30, there was a voicemail message on his machine from Citibank's fraud control department asking him to call because they thought there might have been fraud on his account.

The Monetary Authority of Singapore (MAS), the country's central bank, has decided not to interfere with transactions made in the digital currency.

American Express has been ordered by federal regulators to pay nearly $76 million to settle allegations that it used to deceptive marketing and unfair billing practices to sell credit card add-on products to its customers.

JPMorgan Chase & Co. increased spending and withdrawal limits it imposed on 2 million customers who used debit cards at Target Corp. during the retailer's data breach.

Despite various technology challenges and a recent legal stumbling block in resolving the EMV debit routing issue in the U.S., the EMV Migration Forum says it made significant progress in the past year.

Decoupled debit cards, which draw funds from an account at a separate issuer, are typically framed as a low-cost alternative to bank cards. But in the wake of the massive Target Corp. data breach, security may have suddenly become the product's biggest selling point.