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Citi to Replace Cards Following Breach
Posted on February 20th, 2009 No commentsCitigroup Inc. has started sending replacement credit cards to its customers, apparently in response to a massive security breach at a payment processing company, according to a Milwaukee Journal Sentinel news brief. Heartland Payments Systems Inc. revealed Jan. 20 that its system used to process Visa, MasterCard, American Express and Discover Card transactions was breached late last year. The Princeton, N.J., company said the breach did not involve merchant data, cardholders’ Social Security numbers, unencrypted personal identification numbers, addresses or telephone numbers.
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Card Issuers Examine Accounts
Posted on February 12th, 2009 No commentsSome financial institutions in Wisconsin are reissuing credit and debit cards or internally monitoring card accounts following a security breach disclosed Jan. 20 by Heartland Payment Systems of Princeton, N.J. Heartland processes million transactions a month for Visa, Mastercard, American Express and about 100 Express and Discover cards used at 250,000 merchants nationwide. Read the Milwaukee Journal Sentinel article.
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New Rules Change Credit Practices
Posted on December 18th, 2008 No commentsNew credit card rules coming from the Federal Reserve and other banking regulators could cost the banking industry more than $10 billion a year in interest payments, according to a study by the law firm Morrison & Foerster in anAssociated Press article.