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Debit Cards

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NEWS
October 21, 2011 | By Nick Schulz
Bank of America and several smaller banks recently announced new monthly fees for customers who use debit cards. The move prompted howls of protest, including from Sen. Dick Durbin (D., Ill.), who took to the Senate floor to encourage customers to remove their money from banks that raise fees. That a sitting senator would encourage a bank run, especially in this economy, is remarkable - and an indication of the political heat generated by the fees. So let's see if we can shed some light on how to think about them.
BUSINESS
August 5, 2012 | By Doreen Hemlock, FORT LAUDERDALE SUN SENTINEL
Big banks are entering the business of prepaid debit cards, as more Americans turn to reloadable plastic as an alternative to checking accounts, check-cashing stores, and other financial options. JPMorgan Chase is especially aggressive. In late June, it launched Liquid, a card that lets users load and withdraw money at Chase's extensive branch and ATM network at no charge. Some analysts call Liquid a "game changer" because most prepaid cards charge for loading, withdrawal and other services that Chase is offering free at its network.
NEWS
June 10, 2010
Dear Harry: I made the mistake of buying a couple of electronic gadgets from a telephone solicitor. The guy was the smoothest talker I ever heard. When I got the things from my mailbox, they were not in any way like what I was told. I could tell this from the pictures on the boxes, so I sent them back completely unopened. The problem is that they hit my debit card for $78, including a shipping charge. I contacted the bank to try to stop the charge, but it was too late. You can probably guess what happened when I called the company.
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
November 16, 1998 | by Yvette Ousley, Daily News Staff Writer
For six years, Tanya Barber waited in two-hour lines that snaked around the block to collect welfare and food stamps. But thanks to a computerized welfare benefits system, the waiting days are over for Barber and an estimated 415,000 heads of households statewide. The state Department of Public Welfare this year replaced welfare payment centers with an electronic banking-type system called electronic benefits transfer (EBT). It costs $9 million less than the current system, reduces fraud and is aimed at teaching money management skills - something recipients will need as the government begins weening them from welfare rolls come March.
BUSINESS
March 12, 1995 | By Andrew Cassel, INQUIRER STAFF WRITER
Smoking or non? Regular or decaf? Credit or debit? You're probably facing at least two of these weighty conundrums on a regular basis already. And if you haven't been presented the third one yet, you will be before long. Debit, or check cards, which look like credit cards and act like MAC cards, are coming soon to a wallet near you. A slowly growing phenomenon since they were first introduced in the early '80s, the cards have been spreading much faster lately, including here.
NEWS
April 26, 2001 | by Jim Smith Daily News Staff Writer
Seven guns, including one stolen from a dead man, allegedly by a city morgue technician, and 66 food-stamp debit cards have a West Oak Lane businessman in trouble with federal lawmen. Spurgeon Link, 68, was a partner of former state Sen. T. Milton Street, Mayor Street's brother, when Link started selling pottery and flowers and other goods in the late 1980s on a lot at the intersection of Ogontz, Chelten and Stenton avenues. Link, who does business under the names Think Link and Link's Concrete World, branched out and opened a pawn shop at the same location, and that's when he got in trouble, according to a federal grand jury indictment handed down yesterday.
NEWS
February 10, 1998 | By Marjorie Valbrun, INQUIRER STAFF WRITER
Some people describe it as a quick, sideways glance that silently communicates volumes: disapproval, resentment, disgust, sometimes even pity. Others say it's more like a stare: slow and judgmental. Eyes carefully study the groceries on the conveyor belt, moving from the boxes of cookies to the bottles of soda, vigilant for signs of extravagance. Mumbles rise from the others on line about the extra wait. It's a common experience at the checkout line for someone paying with food stamps.
NEWS
April 11, 2005 | By Kathleen Brady Shea INQUIRER STAFF WRITER
A paper chase is nearing an end for hundreds of thousands of child-support recipients in Pennsylvania. This month, recipients of court-ordered support payments in Berks, Bucks, Chester, Delaware, Lehigh, and Montgomery Counties will receive notification that the checks will no longer be in the mail but in a debit card. Since August, the state has been phasing in the debit system to replace the support checks that are sent out from Harrisburg, according to officials. The program started in Philadelphia in February.
NEWS
April 11, 2014 | By Amy Worden, Inquirer Harrisburg Bureau
HARRISBURG - The state Senate unanimously approved a bill Wednesday that would ban lawmakers from accepting cash gifts from lobbyists or others seeking to "influence the legislative process. " "Senate approval of this legislation gives hope that an ugly problem is about to yield a responsible solution," said Sen. Lisa Baker (R., Luzerne), sponsor of the bill. "It sets basic ground rules everyone can grasp. " The 49-0 vote followed an unusually quick path for a piece of legislation, and came just weeks after The Inquirer first reported that four Philadelphia lawmakers had been caught on tape taking money from a lobbyist.
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NEWS
April 11, 2014 | By Amy Worden, Inquirer Harrisburg Bureau
HARRISBURG - The state Senate unanimously approved a bill Wednesday that would ban lawmakers from accepting cash gifts from lobbyists or others seeking to "influence the legislative process. " "Senate approval of this legislation gives hope that an ugly problem is about to yield a responsible solution," said Sen. Lisa Baker (R., Luzerne), sponsor of the bill. "It sets basic ground rules everyone can grasp. " The 49-0 vote followed an unusually quick path for a piece of legislation, and came just weeks after The Inquirer first reported that four Philadelphia lawmakers had been caught on tape taking money from a lobbyist.
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
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.
NEWS
March 8, 2013 | BY MORGAN ZALOT & DANA DiFILIPPO, Daily News Staff Writers zalotm@phillynews.com, 215-854-5928
AS NEW DETAILS emerged Wednesday in the ordeal of four Temple University students robbed by gunmen during a home invasion Monday night, police announced three arrests in the case. Police declined to identify the men arrested but said they're believed to be the trio who followed a 21-year-old female student from the subway station at Broad Street and Cecil B. Moore Avenue to her apartment on 18th Street near Berks about 7:30 p.m. When the student arrived at her apartment, police said, one of the three men pointed a gun at her and forced her inside.
NEWS
March 8, 2013 | By Sam Wood, PHILLY.COM
Two North Philadelphia men today were charged with aggravated assault, robbery and related counts in the Monday night home invasion of several Temple University students. Authorities arrested Tyree Johnson, 19, and Malcolm Murray, 18, on Wednesday. Bail was set at $800,000 each, said Tasha Jamerson, spokeswoman for the District Attorney's office. A third man remains at large. Johnson and Murray were allegedly among the trio who followed a 21-year-old female student from the subway station at Temple to her 19th and Berks home.
BUSINESS
March 8, 2013 | By Paul Nussbaum, INQUIRER STAFF WRITER
PATCO, the South Jersey-to-Philadelphia commuter rail line, will soon upgrade its "smart" fare card, but the move won't bring it any closer to compatibility with SEPTA's planned electronic fare system. PATCO plans to pay Cubic Transportation Systems Inc. of San Diego $168,240 to upgrade card-readers at its fare gates to accommodate new versions of its "Freedom" cards that are implanted with an updated computer chip. The board of the Delaware River Port Authority, PATCO's parent, is expected to approve the purchase this month.
NEWS
March 7, 2013 | By Jeff Gammage, Inquirer Staff Writer
Philadelphia police have charged two men with aggravated assault and related offenses in Monday's home-invasion robbery of four Temple University students who live near campus. A third man is still being sought. Police did not release the names of the two in custody Wednesday, saying that information was part of an ongoing investigation. The men were arrested by officers from Central Detectives and the 22d District, based on tips that followed the public release of security video Tuesday night, police said.
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