CollectionsDebit
IN THE NEWS

Debit

FEATURED ARTICLES
NEWS
May 17, 2004 | By Mitch Lipka INQUIRER TRENTON BUREAU
A motorist pulls up to a gas pump and pays with a debit card. What seems so ordinary and simple is actually a window into a routine but little-known practice that can tie up a lot more money in a consumer's checking account than the price of the gas. Placing a "hold" on money in an account - blocking it from being spent until a transaction is settled, often days later - routinely ties up $50 to $75 every gas purchase, even if the tab is only...
BUSINESS
August 6, 2011 | Associated Press
NEW YORK - If you had a Bank of America account with a debit card between January 2001 and May of this year, you may be due some cash. The nation's largest bank has started contacting customers who may be entitled to a refund. It recently reached a class-action settlement over the way it charged overdraft fees. There are still other suits working their way through federal court in Florida. In the settled case, Bank of America agreed to create a $410 million fund, with the money used to pay back customers who were charged overdraft fees as a result of the company's policy of processing debit-card transactions based on the size of the transaction, rather than when the purchases occurred.
NEWS
April 11, 2013 | By J. Duncan Campbell III
'When two elephants fight, the grass gets trampled," goes the African proverb. The same can be said for the epic battle between banks and retailers over interchange fees - what retailers pay to accept credit and debit cards for payment. This battle has resulted in harm to consumers, community banks, and mom-and-pop retailers as Congress injected itself into the fight. Fortunately, this battle is finally drawing to a close. Last year the payments and retail industries resolved their differences through the court system, negotiating a $7.25 billion settlement to their dispute.
BUSINESS
November 11, 1999 | by Marc Meltzer, Daily News Staff Writer Daily News wire services contributed to this report
Your charge/debit card may not go everywhere you want to go, especially if you're planning to get there in a rental car. Though an increasing number of debit and checking cards bear Visa or MasterCard emblems, these slivers of plastic are not the same as major credit cards, and nearly every rental car company will tell you as much - if they're asked. This policy isn't always clear before you get to the counter, though. And customers who confuse the two types of cards could find themselves far from home without any wheels.
NEWS
May 11, 2013 | By Colleen Long, Associated Press
NEW YORK - A gang of cyber-criminals stole $45 million in a matter of hours by hacking their way into a database of prepaid debit cards and then fanning out around the globe to drain cash machines, federal prosecutors said Thursday. Brooklyn U.S. Attorney Loretta Lynch called it "a massive 21st-century bank heist" and compared its size to the Lufthansa heist in the late 1970s immortalized in the film Goodfellas . Lynch said the fraudsters had moved with astounding speed to loot financial institutions around the world.
NEWS
October 12, 2011 | By Robert Moran, Inquirer Staff Writer
A Philadelphia police officer was charged Tuesday with using debit and credit cards he stole from people who were jailed, federal prosecutors said. Charles Jacoby, 30, was charged in a criminal information with one count of wire fraud related to a debit card transaction in April at a Wawa store in Philadelphia. Being charged by criminal information means Jacoby likely will plead guilty. Jacoby, a 10-year veteran of the force, was assigned to the 22d District as a patrol officer and cell block attendant, federal prosecutors said in the information.
BUSINESS
April 27, 2011 | By Jeff Gelles, Inquirer Staff Writer
Two new studies suggest that checking-account customers continue to be confused by banks' debit-card overdraft policies, despite Federal Reserve rules imposed last summer to protect card users from unexpected charges for overdrafts on point-of-sale transactions. The new rules bar banks from imposing fees on such overdrafts unless an account-holder agrees in advance to the banks' terms. With typical fees of $35 per overdraft, banks have made billions of dollars a year by authorizing debit-card purchases even though there are insufficient funds in customers' accounts.
BUSINESS
September 8, 1988 | By Janet L. Fix, Inquirer Staff Writer
The folks who brought you MAC, the automated-teller machine, hope that when you think of spending greenbacks, you'll see blue. The blue of the MAC logo on the card in your pocket, that is. "MAC. The new color of money. " So goes a new advertising campaign by CoreStates Financial Corp., owner of the MAC network. The campaign is aimed at getting consumers to use the plastic card for more than getting cash from MAC machines. Specifically, the push is on to get cardholders to use MAC to pay for everything from groceries to gas, futons to ficus trees, venetian blinds to Volvos.
NEWS
October 8, 2009
REMEMBER WHEN personal banking wasn't a minefield of hidden fees? It wasn't so long ago - only five years, says the North Carolina-based Center for Responsible Lending - that when a consumer tried to make a debit-card purchase and the account had insufficient funds to cover it, the transaction was declined. A temporary embarrassment for the consumer perhaps, but it didn't cost anything. These days, though, there are few embarrassing declines. But consumers are paying a high price for the change - in the form of overdraft loans that they didn't know they were getting and that cost them $24 billion nationally last year, up 35 percent in two years.
NEWS
April 27, 2001 | By Sheila Dyan FOR THE INQUIRER
"Always cleaning and painting, they're always doing something," said Teresa Green, 36, describing management at the Colonials at Cherry Hill, an apartment complex she has called home the last three years. Green, a teacher's assistant, added, "Maintenance has been good. I'll give them an A-plus on that. " Most recently, brand-new, debit-card laundry facilities have been installed in each building at the Colonials. The entire 40-year-old complex, including the lobbies, and the halls lined with Colonial-framed doorways, appears clean and well-kept.
1 | 2 | 3 | 4 | 5 | Next »
ARTICLES BY DATE
TRAVEL
June 5, 2016
Name: RewardExpert.com. What it does: The website uses an algorithm to develop a strategy to help travelers reach their destinations using the fewest points or miles. What's hot: The free online service rewards you with a quick plan; there's no emailing someone and waiting for a reply. It also has a helpful feature on how to earn more miles (and reach your destination faster) if you use its partner offers, such as a stay at Starwood Hotels to get 1,000 Delta Sky Miles or signing up for DirecTV for 25,000 United MileagePlus Advantage Miles.
NEWS
October 23, 2015 | BY JASON NARK, Daily News Staff Writer narkj@phillynews.com, 215-854-5916
POLICE NABBED one suspect and were looking for another in the robberies of two men near Temple University last week. Philadelphia police said Robert Sherrill, 26, of Clarion Street near York, and a 19-year-old accomplice - one of whom had a handgun - allegedly approached a 21-year-old former Temple football player about 12:35 a.m. Oct. 15 at 10th Street and Susquehanna Avenue. Police said the two men tried to force the victim into his car, but he refused. Sherrill and the accomplice allegedly forced the man to the ground, taking his keys, a cellphone and his 2005 Cadillac CTS and fled down Susquehanna.
NEWS
November 30, 2014 | By Erin E. Arvedlund, Inquirer Columnist
There are savvy shoppers. Then there are holiday crazies - expert, rabid consumers who combine coupons, compare online vs. in-store bargains via smartphone, and put us all to shame. Edgar Dworsky, proprietor of nonprofit consumer advocate ConsumerWorld.org, is among the latter. Here's what he does before buying anything, most especially during this season of shopping insanity, along with tips from some other parties: Chart price history. Start by visiting sites like Shopping.com, Shop.pricespider.com, Pricegrabber.com, and TheFind.com, as well as Google Shopping, Amazon.com, and eBay.
BUSINESS
January 20, 2014 | By Jeff Gelles, Inquirer Columnist
Could the uproar over Target's vast data breach finally force Americans to get serious about consumers' security? Most of the rest of the world - including Canada and Europe - now uses payment cards embedded with microchips, making them far harder to clone. Almost everywhere, payment cards also are secured by customers' secret PIN codes. Meanwhile, America clings to outmoded magnetic-stripe technology, which makes card cloning much easier for the bad guys. And we blithely issue debit cards - yes, cards that take money from your very own bank account - that are usable with just a signature, no PIN required.
NEWS
July 27, 2013 | By Samantha Henry, Associated Press
NEWARK, N.J. - Four Russians and a Ukrainian have been charged with running a sophisticated hacking organization that penetrated the computer networks of more than a dozen major U.S. and international corporations over seven years, stealing and selling millions of credit and debit card numbers, resulting in losses of hundreds of millions of dollars. Indictments were announced Thursday in Newark, where U.S. Attorney Paul Fishman called the case the largest hacking and data breach scheme ever prosecuted in the United States.
NEWS
June 17, 2013 | By Bill O'Boyle, The Times Leader MCT REGIONAL NEWS
All Natalie Gunshannon wanted was to be paid a fair wage for her work, she said. Gunshannon, 27, of Dallas Township, worked at McDonald's Restaurant on the Dallas Highway from April 24 to May 15. When she received her first paycheck, enclosed was a Chase Bank debit card with instructions on how to use it and the fees attached. Her future earnings would be deposited into the debit card account and she could access her money from there. Gunshannon never signed the card and when she returned to work she asked her supervisor if she could be paid by check or by direct deposit.
NEWS
May 11, 2013 | By Colleen Long, Associated Press
NEW YORK - A gang of cyber-criminals stole $45 million in a matter of hours by hacking their way into a database of prepaid debit cards and then fanning out around the globe to drain cash machines, federal prosecutors said Thursday. Brooklyn U.S. Attorney Loretta Lynch called it "a massive 21st-century bank heist" and compared its size to the Lufthansa heist in the late 1970s immortalized in the film Goodfellas . Lynch said the fraudsters had moved with astounding speed to loot financial institutions around the world.
NEWS
April 11, 2013 | By J. Duncan Campbell III
'When two elephants fight, the grass gets trampled," goes the African proverb. The same can be said for the epic battle between banks and retailers over interchange fees - what retailers pay to accept credit and debit cards for payment. This battle has resulted in harm to consumers, community banks, and mom-and-pop retailers as Congress injected itself into the fight. Fortunately, this battle is finally drawing to a close. Last year the payments and retail industries resolved their differences through the court system, negotiating a $7.25 billion settlement to their dispute.
BUSINESS
March 1, 2013 | By Jane M. Von Bergen, Inquirer Staff Writer
Any day now, unemployed Pennsylvanians will receive new debit cards to access their unemployment benefits. But there's a wrinkle: The funds on the old blue cards won't transfer onto the new ones. "My fear is that people will think that this transition works the same way as a new ATM card and they'll throw the old one away," said Sharon Dietrich, an employment lawyer who follows unemployment policy as part of her job with Community Legal Services in Philadelphia. "The point is," she said, "use all the money.
NEWS
October 5, 2012
Passengers on the PATCO High-Speed Line will not be able to use "contactless" debit and credit cards to pay their fares after Oct. 20. PATCO will end its yearlong test with bank-issued cards, officials said Thursday. Passengers may continue to use PATCO's own Freedom card. Transaction costs for the bank cards would be too high for PATCO, said John Rink, the agency's general manager. During the test period, those costs have been paid by Cubic Transportation Systems of San Diego, which built and installed PATCO's card-reading turnstiles.
1 | 2 | 3 | 4 | 5 | Next »
|
|
|
|
|