October 25, 2014 |
SEPTA's long-delayed, $130-million smart-card payment system will be called SEPTA Key, the agency announced Thursday. Like Ben Franklin's key. Get it? But unlike Franklin's kite experiment, no lightning speed is involved with SEPTA's move away from tokens, passes and tickets. The first new subway turnstiles are in place, but widespread use of the card on subways and buses won't happen till next year, and on Regional Rail, not until 2016 at least. The new system will allow riders to use any "contactless" credit card or a SEPTA-issued card or even a smartphone to pay their fares at card-reading turnstiles or bus fare boxes.
October 19, 2014 |
American Express unveiled a new effort Friday to combat credit-card fraud with a big assist - from President Obama. He announced the American Express Small Merchant EMV Assistance Program during a news conference in Washington, detailing a $10 million initiative designed to help merchants defray the cost of replacing check-out terminals with ones that will accept secure, chip-based credit cards. So-called EMV technology offers greater payment security by storing data on a chip embedded in a credit card, assuming payment terminals are equipped to read the chip.
October 10, 2014 |
The treasurer of a Chester County fire company was charged Wednesday with stealing $300,000 from the station by forging checks, stealing from the firehouse safe, and manipulating bingo records. Hower Smith III, 57, allegedly stole the money from Coatesville's Westwood Fire Company between 2006 and 2012. Smith, who lives in Coatesville and was a member of the company for about 40 years, was removed from his post and came under investigation in 2012 after he charged $2,000 to a fire company credit card while on vacation in Hawaii, officials said.
September 17, 2014
APPLE'S RELEASE of the Apple Watch and iPhone6 makes it clear that Silicon Valley's future will be directly tied to its ability to protect tech users' privacy. Securing Americans' personal information in an increasingly tech-dominated world has to be a higher priority for tech leaders and the valley's congressional and legislative delegations. Their failures up to now have left them, shall we say, exposed to the point of embarrassment. The confidence Apple executives expressed in their ability to protect customers' private information would be more believable if the whole world hadn't just seen nude photos of Jennifer Lawrence and other celebrities courtesy of hackers who broke into supposedly secure private Apple accounts.
August 6, 2014 |
A FORMER longtime employee at the U.S. Department of Labor's Philadelphia office and a relative were held for trial yesterday on charges that they used credit cards to steal more than $4,100 in gasoline last year. Municipal Judge Patrick Dugan ordered Rhonda Winston, 54, and Maleek Adams, 24, to stand trial on charges of forgery, conspiracy, theft by deception and related counts after a preliminary hearing. The judge dropped a charge of possession of an instrument of crime that both defendants had faced.
July 21, 2014 |
Two Montgomery County brothers and a Philadelphia man have been charged in a scam that "duped" more than 70,000 people into buying a credit card they thought would help them buy merchandise over the Internet while improving their credit score, the U.S. Attorney's Office in Philadelphia said Friday. Blake Rubin, 30, of Huntingdon Valley, faces a prison term of up to 45 years and a $750,000 fine if convicted. Chase Rubin, 28, of Rydal, could get a maximum sentence of 65 years and a $1 million fine.
July 18, 2014 |
Penn Medicine Tuesday announced a data breach involving receipts from Penn Medicine Rittenhouse that were stolen last month from a locked office in Pennsylvania Hospital. Notifications of the theft were sent to 661 patients Monday, said Susan Phillips, a senior vice president and spokeswoman for the health system. She said no arrests have been made. There have been no instances of identity theft related to theft. Phillips said that was a "very low risk. " Many of the receipts were found on hospital grounds.
July 11, 2014 |
THE CRINKLED brown lunch bag near Donna Kerwick's desk at the Philadelphia Parking Authority is filled with dozens of condoms. The receipt on the outside reads: "Rubbers: Small, medium, large. " The bag is stuffed in between a violin, a wheelchair and other items that, like the bag of condoms, were left behind in taxis and turned over by drivers who wanted to do the right thing. Nobody knows what the owner of the bag of condoms wanted to do. Kerwick, an analyst for the enforcement department of the PPA's Taxi and Limousine Division, headquartered at Swanson Street near Wolf in South Philly, is tasked with logging, tracking and reuniting people with items they've left behind in Philadelphia taxis.
May 21, 2014 |
West Chester investment-fund manager Richard Gates and his twin brother, Kevin , are going to need Acela frequent-rider passes if their preemptive fight against the Federal Energy Regulatory Commission keeps up much longer. "It's my fifth trip down to D.C. in the last couple of months," Richard Gates said Monday. He runs the TFS mutual funds and other portfolios with assets totaling $2 billion with his brother and other math-genius partners. Kevin Gates served on a panel called "Mugged by the State: When Regulators and Prosecutors Bully Citizens" at the government-skeptical Cato Institute on Monday while Richard Gates was preparing for Tuesday's Senate committee hearing over whether President Obama's pick, Norman Bay , should chair the FERC board.
March 7, 2014
I LIKE TO hear from readers, especially those with specific questions about financial issues. Here are five: Q: Given the increased frequency with which credit cards are being compromised, I wonder if using a secure credit card is a safer way to shop online. My reasoning is that a secured credit card requires the user to deposit money into a bank account. Because this account wouldn't be linked to my checking, it seems more secure. Should the account become compromised, the only risk is what money you've already earmarked for online shopping.