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Posts Tagged ‘credit cards’

Biometric Credit Cards on the way…More personal Info to be stored

December 23, 2013 Comments off

theepochtimes.com

The ‘Black Friday’ attack was a sophisticated, pervasive form of credit card skimming. It was also widespread sweeping consumer details across Target’s 2,000 stores in North America. The point-of-sales breach, likely the result of an email phishing attack on Target’s back-end system, was a big blow the store’s holiday sales and goal to increase it’s online presence, which has stagnated at 2 percent of gross sales.

Collateral damage of the Target attack includes JP Morgan Chase, which had 2 million customers—10 percent—affected by the data breach. As an extra layer of security, Chase has limited customer debit cards to $100 per day, ATM withdrawals, and $300 for debit purchases. All of Target’s bad news and Chase’s consumer restrictions come in the last week of holiday shopping. Chase isn’t the only bank involved.

Public sentiment has been downright negative to “I will never shop at Target again.”

Let’s see what Chase customers think of $100 daily limits. Try going out on town for two on that money. So who can consumers trust with their credit cards and personal information?

It appears no one.

Target’s ripple affect will go beyond the three class action lawsuits, lost revenue, and  Full Article Here

 

Bank Of America: Not Banning Gun Purchases (Yet)

January 16, 2013 2 comments

fitsnews.com

bank of america

YOU CAN STILL BUY WEAPONS, AMMO WITH YOUR BOA DEBIT AND CREDIT CARDS … FOR NOW

The internet has been ablaze this week with a rumor alleging Bank of America has restricted firearm and ammunition purchases by its customers. According to numerous internet posts, the bank has been prohibiting customers from purchasing guns or ammunition using bank-issued credit or debit cards. FITS ha Read more…

The “cashless society” and Total Monetary Surveillance

April 4, 2012 1 comment

marketoracle

Photo Credit Infowars

Economic Collapse writes: Most people think of a cashless society as something that is way off in the distant future. Unfortunately, that is simply not the case. The truth is that a cashless society is much closer than most people would ever dare to imagine. To a large degree, the transition to a cashless society is being done voluntarily. Today, only 7 percent of all transactions in the United States are done with cash, and most of those transactions involve very small amounts of money. Just think about it for a moment. Where do you still use cash these days? If you buy a burger or if you purchase something at a flea market you will still use cash, but for any mid-size or large transaction the vast majority of people out there will use another form of payment. Our financial system is dramatically changing, and cash is rapidly becoming a thing of the past. We live in a digital world, and national governments and big banks are both encouraging the move away from paper currency and coins. But what would a cashless society mean for our future? Are there any dangers to such a system?

Those are very important questions, but most of the time both sides of the issue are not presented in a balanced way in the mainstream media. Instead, most mainstream news articles tend to trash cash and talk about how wonderful digital currency is.

For example, a recent CBS News article declared that soon we may not need “that raggedy dollar bill” any longer and that the “greenback may soon be a goner”…. Read more…

Debit cards: $50 spending limit coming?

March 11, 2011 Comments off

cnn.com

Debit card limit By Blake Ellis, staff reporterMarch 10, 2011: 10:09 AM ET

NEW YORK (CNNMoney) — Declined! Your debit card may soon be denied for purchases greater than $100 — or even as little as $50.

JPMorgan Chase, one of the nation’s largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.

Why? Because of a tricky thing called interchange fees.

Right now, every time you swipe your debit card, your bank charges the retailer an average fee of 44 cents, which it shares with its partners. Those little fees, however, add up to about $16 billion per year, according to 2009 data from the Federal Reserve.

But as part of the Wall Street reform legislation that was passed last year, these fees are being slashed. The Fed is currently proposing rules that would go into effect in July and would cap interchange fees at 12 cents.

That’s a big enough cut to cost Read more…