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MasterCard faces $18.6 billion lawsuit over excessive fees
Ed AdamczykLONDON, Sept. 9 (UPI) -- MasterCard faces an $18.6 billion lawsuit in Britain, charged with applying excessive fees on millions of transactions between 1992 and 2008.
20 points by UPI | United Press International News World Communications International News Service William Randolph Hearst Law MasterCard Walter Cronkite Credit card
MasterCard sued for $19bn in Britain’s biggest damages claim
The leading global payment company MasterCard is being sued for £14 billion ($19 billion) in damages. The company allegedly charged its 46 million UK customers excessive fees for using its cards. Read Full Article at
143 points by Russia Today | Law Debit card Credit card European Union Consumer protection MasterCard Treaty of Lisbon Consumer
Parking garages are scamming credit-card users with fees: suit
Two of the city’s largest operators of parking garages have been slapped with class-action lawsuits challenging their credit-card-processing fees. Icon Parking Systems and Quik Park Management both charge a $2 fee for drivers who pay with cards instead of cash, according to the two new Manhattan civil suits filed by New York residents Russell Spitzer...
105 points by New York Post | New York City Credit card The Bronx Parking Borough Manhattan Money Payment
The Wells Fargo scandal should scare you
It's not an otherwise just banking system corrupted by a single, tainted credit card scheme. It's "extreme capitalism" preying on trusting customers.
4468 points by CNN | Bank Bank of America Economics Money Credit card American Express Cheque Credit history
More than 300 Manhattan parking lots sued for charging $2 fee
Two parking chains that control more than 300 garages in Manhattan were sued for charging an extra $2 if customers paid with credit cards.
55 points by Daily News | The Bronx New York City New Jersey United States New York Class action Credit card Brooklyn
Wells Fargo to pay $190M settlement in customer fraud case
The largest U.S. bank by market capitalization will pay $185 million in penalties and $5 million to customers that regulators say were pushed into fee-generating accounts they never requested.
251 points by Las Vegas Review-Journal | Bank Financial services Finance Cheque Credit card Banking Minneapolis Los Angeles
Another day, another $185mn: Wells Fargo fined for opening fake accounts
A top US bank, Wells Fargo, has agreed an $185 million payout settlement with California and federal regulators after it opened more than 2 million fake accounts not authorized by customers. It is the company’s second instance of fraud in recent months. Read Full Article at
1015 points by Russia Today | Credit card Wells Fargo Money Los Angeles Bank Overdraft The Los Angeles Times Payment
Wells Fargo fires 5,300 workers, fined $185 million in 'outrageous' fraud case
California and federal regulators fined Wells Fargo a combined $185 million on Thursday, alleging the bank's employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals.
-1 points by Arizona Daily Star | Credit card Los Angeles Authorization Bank of America Federal Bureau of Investigation Wells Fargo Money Debit card
Credit card sensation: The hottest new plastic is metal
NEW YORK — The demand has been so overwhelming that the manufacturer ran out of raw material in just a few days. Enthusiasts extol its virtues all over the internet. Millennials are clamoring for it.It's not a new video game, or some fancy food craze, or even Apple's latest iPhone, but a credit card.Calling it plastic wouldn't do it justice. It is a high-end, high-fee, high-reward card made of a metallic alloy that gives it a satisfying heft and an impressive thunk when you toss it onto the table to pick up the check.
-1 points by Boston Herald | American Express Credit cards JPMorgan Chase Centurion Card Credit card Bank of America Departures Magazine Credit history
The hottest new plastic is metal
The Chase Sapphire Reserve Card has become the hottest card on the market just two weeks after being introduced.
-1 points by Chicago Sun-Times | JPMorgan Chase Credit card Bank of America Credit history American Express J.P. Morgan & Co. Credit cards Washington Mutual
If Huntington mails a payment but the check is lost, what happens to the money?: Money Matters
I bank at Huntington and had requested a payment be sent to a friend I owed money to. The payment was processed through Huntington's online bill payment service and the money was debited from my account the same day. Three months later, I found out he apparently never received the check. Q: I bank at Huntington and had requested a payment be sent to a friend I owed money to. The payment was processed through Huntington's online bill payment service and the money was debited from my account the same day. Three months later, I found out he apparently never received the check. At least that's what he says. How can I find out? Huntington already deducted the money from my account? What if he never got the money and I never found out? What would happen to the money? B.E., Solon A: Huntington and a few other banks operate their bill payment services with what's called a "good funds" policy. As soon as a payment is sent, the money is debited from your account. If it's an electronic payment, such as for your electric bill or credit card payment, no biggie. It will be received the day it's sent. But in the case of a check sent to an individual who doesn't receive payments from banks electronically, it can be a little messy. So you raise a good question. You can tell whether a check has been cashed by logging into your account online. Since the money was already debited, you have to go to a different tab to check on the status of past payments. I asked Huntington spokesman Brent Wilder what happens to the money if a check would get lost in the mail. Would Huntington just keep it? Would the bank refund it to the customer at some point? Would the bank issue the check again? Wilder confirmed that funds get deducted from an account when the check is issued to someone. "If the check does not get cashed after 180 days, the check gets canceled and the funds are routed back to the customer," Wilder said. "If the customer still has an account at Huntington, the funds will be deposited back into their account. If the customer no longer has an account a check will be cut and mailed to their address. In your case, your friend doesn't want to wait three more months to get his money. So Huntington says you can call and cancel the payment without a fee and the check will be reissued. (I'm assuming this couldn't happen too often or Huntington might start getting ticked off and start charging fees.) But situations like you describe are just one of the reasons I'm not a fan of the "good funds" method of online bill pay. You don't know when the party actually receives the check. And the bank has free use of your money during that limbo period from the time it's deducted from your account until the recipient cashes your check. I think online bill payment services in general are fantastic. Great time-savers. Very accurate. But if you use your bank's bill pay service and if you care, you should ask your bank whether it uses the "good funds" method (money deducted immediately) or "risk-based" method (money deducted from your account when the check is actually cashed).
-1 points by The Plain Dealer | Money Credit card Payment Bank Payments Business terms Cheque English-language films
Wells Fargo to pay $150 million-plus over allegations its workers opened fake accounts
City and federal officials have reached a settlement of at least $150 million with Wells Fargo over allegations that the bank’s employees, driven by strict sales quotas, regularly opened new accounts for customers without their knowledge. The settlement, according to documents reviewed by The Times,...
8774 points by Los Angeles Times | Wells Fargo Lawsuit Bank of America Credit card Los Angeles Bank Fraud Dispute resolution
Allegiant air has new points program
But don't call it a 'frequent-flier' program, says the Las Vegas-based discount airline.         
338 points by Arizona Republic | Loyalty program Credit card Bank of America Allegiant Air The Card Car rental Vice President of the United States
Identity thieves set sights on college students
The IRS says that fraudsters are trying to trick young people into paying bills they don't owe, and other scams.        
-1 points by Detroit Free Press | Identity theft Fair Credit Reporting Act Credit score Credit card Social Security number Fraud Credit card fraud Theft
How to cut costs without cutting out the things you love
You can live on a budget and have your latte, too — or cake or vacation or whatever else adds joy to your life. In fact, frugal living can help you afford what you want. Here are some frugal living tips to help you cut costs without cutting out everything you love.
24 points by Las Vegas Review-Journal | Need Want Credit card Money Payment WANT Carbonated water Cut
US paid Iran 1.3B for failed deal
The Obama administration made two additional cash payments totaling $1.3 billion, after delivering $400 million to Iran by plane in January, to resolve a failed arms deal, administration officials told lawmakers Tuesday.
6426 points by CNN | Money Payment Iran United States Senate Payments Credit card Barack Obama Receipt
Troy woman loses $703K in online swindle
The 58-year-old woman wired to a man she met on who said he was in financial trouble in England, police said        
-2 points by The Detroit News | Online dating service Money Payment Dating Credit card Andy Summers Punk rock Finance
Kenney administration aims to reform troubled Mayor's Fund

-1 points by The Philadelphia Inquirer | Board of directors Credit card American Express Management occupations Managing director Executive director Corporate title Credit history
Stolen wallet returned 8 years later with $141 cash still inside
A Boston woman whose wallet was stolen in 2009 said she was shocked to get it back -- and even more shocked to see it still contained all of her cash.
-1 points by UPI | United Press International Police Fortune cookie Social Security number The Fortune Credit card The Little Things Credibility
Another headache — courtesy of car rental companies
Dear John: Regarding excess charges at Florida rental car companies, I ran into very much the same problem with Thrifty. I rented an economy car for six days, which was supposed to cost $289. The bill I received was for $560. There can be as many as 10 extra surcharges on the bill. None of...
25 points by New York Post | Credit card Toll road Renting Electric charge Carsharing Car rental Payment Automobile
Editorial: Make wrongly accused whole in jobless fiasco
Victims of unemployment agency computer foul-up had assets seized, forced to repay money they didn’t owe        
-2 points by The Detroit News | Tax refund Unemployment Tax Taxation in the United States Minimum wage Party leaders of the United States Senate Credit card United States
Former Philly-area attorney, father accused of $13 million Ponzi scheme

-2 points by The Philadelphia Inquirer | Grand jury Indictment Jury New Jersey Criminal law Philadelphia Camden New Jersey Credit card
Uber would have to allow drivers to collect tips from credit cards under a new California bill
Essential Politics: Democrats in Congress hear from ICE, California lawmakers consider making election day a paid state holiday Feb. 17, 2017, 5:07 p.m. This is Essential Politics, our daily look at California political and government news. Here's what we're watching right now: Democrats in Congress...
348 points by Los Angeles Times | Collective bargaining Credit card Trade union Negotiation Credit history Legislature Payment United States Congress
Ex-SUNY Downstate head agrees to fine for using state credit card for Bermuda trip
ALBANY – The former head of SUNY’s Downstate Medical Center has agreed to pay a $3,000 fine for billing personal expenses from a planned trip to Bermuda to his state-issued credit card, officials said. John Williams, who led the medical center from 2012 until his resignation in 2016, violated the state’s Public Officers Law, the...
47 points by New York Post | New York City State University of New York Thomas DiNapoli SUNY Downstate Medical Center Credit card Hospital New York Hospitals in New York City
What happens when your bank asks strange questions to verify identity?: Money Matters
Chase called me and said they were sending me a new credit card because of some suspicious activity. The bank started asking me to verify personal information and it was obvious it was information from my credit report, which they were using without my approval. They were asking things about like the cars that I'd own previously. Q: Not long ago, Chase called me and said they were sending me a new credit card because of some suspicious activity. The bank started asking me to verify personal information and it was obvious it was information from my credit report, which they were using without my approval. They were asking things about like the cars that I'd own previously. Why are they going to credit reports, which I assume they buy so they can sell us higher interest rates? M.X., Cleveland A: There is so much weird about your question. First, I question whether the call you got was actually from your bank. I've received calls about suspicious activity before on my credit card and they always focus on wanting to verify specific transactions, naming the merchant and dollar amount. From there, it's, "Yes, these transactions were legitimate." Or, "No they weren't," and the account gets closed and a new account number and cards are issued. I've never been asked during one of these calls (I've gotten maybe six or eight over the years) for any personal information, such as the account number, my Social Security number or anything about what cars I owned in the past or other loans or accounts I had. The credit card company has called and said, "This is Jamie from XYZ Bank, calling to verify a couple of transactions on your credit card account . . . " And then the person states a merchant and date and transaction amount. I always tell people to never provide or confirm personal information of someone supposedly calling from a financial institution, unless the call was expected. If someone calls and says they're from XYZ Bank and want to confirm a couple of transactions: $212 at Best Buy and $137 at Main Street Restaurant in Orlando, Fla. You say, "Yes, those are genuine," or "No, those aren't legitimate." Beyond that, a consumer shouldn't confirm any information or offer any personal information. I would never provide or confirm information beyond that to someone calling out of sky blue. Never Ever. If you get a call supposedly from your bank and they want to confirm personal information, you say, "Thank you, I'll call you back." Then you call the phone number that's on the back of your credit card or your account statement, or that you look up independently. You don't call a number they give you. Now, to your real question: I've never heard of banks or credit card companies using more obscure information from someone's credit report to try to verify someone's identity, such as what kinds of cars they had in the past. I just have difficulty believing a bank would have that kind of information on their verification checklist. (That's why I wonder whether the caller was from your bank.) I asked another bank, KeyCorp, Cleveland's largest bank, how it handles issues like this. "Key does not access credit reports to verify client identity,"said spokewoman Drez Jennings. Have a question or comment? Murray is The Plain Dealer's personal-finance writer. Because of the volume of requests, she cannot help everyone who contacts her. To reach Murray: [email protected] columns online: Facebook: MurrayMoneyMattersOn Twitter: @teresamurray ------------------------------------------- In this type of situation, say if you call your bank to discuss your account, the bank may try to verify your identity by asking for your Social Security number, date of birth, the amount of your last deposit or payment or the answers to any "secret questions" you've provided, such as your mother's maiden name. As I've said before, you should never provide truthful answers to any "secret questions," because these answers are easily obtained or know. Don't provide your mother's maiden name or the city where you got married or the middle name of your youngest sibling. You make up answers, and then remember them. You mention that you think it's inappropriate for a bank to look at your credit report. Honey, they have your credit report. Banks and credit card companies that you have an existing account with can pull your credit report information every single month under what's called "an account review."
9 points by The Plain Dealer | Credit history Credit card Fair Credit Reporting Act Identity theft Question Merchant Call option
Chicago woman gets 7 years for 2015 identity theft
A Chicago woman was sentenced to seven years in prison Friday for committing identity theft in 2015.
16 points by Chicago Sun-Times | Identity theft Crime Personally identifiable information Theft Kane County Illinois Bank Chicago metropolitan area Credit card
Austria gets its first bitcoin digital currency 'bank'
The world’s first dedicated bitcoin bank has opened in the center of the Austrian capital Vienna. It is designed to make buying and selling bitcoin easier and safer than other in-person options. Read Full Article at
1990 points by Russia Today | Money Credit card Euro Financial cryptography Germany Automated teller machine Value added Citibank
Army general used government credit card at strip club: IG report
A former three-star U.S. Army general and aide to Defense Secretary Ash Carter was demoted and will retire as a one-star general after an investigation revealed he used a government credit card to pay bar tabs at strip clubs in Rome and Seoul. The move against Maj. General Ronald Lewis, who was formerly a three-star...
103 points by New York Post | United States Army Credit card United States Department of Defense Military ranks Pension Chicago Tribune Chicago Payment
Curious about streaming television? Sling TV is free this weekend!
If you've been wondering what all the fuss is about internet TV but have a fear of commitment, this is your weekend: Sling TV is free for two days.
75 points by The Denver Post | Satellite television Television HBO Credit history Dish Network Credit card IPTV ESPN
General from Chicago loses two stars at retirement due to scandal
A former three-star Army general from Chicago who used his government credit card to pay four-figure bar tabs at clubs in Rome and Seoul, South Korea, will retire as a one-star general, the Army said Thursday. Ronald Lewis was profiled in a front-page story in the Tribune in January 2015 and later...
247 points by Chicago Tribune | Seoul Pension Credit card Military ranks South Korea Charge card Retirement Chicago
Cops searching for man who swiped woman’s purse, $800
Cops are searching for a man who snatched a purse containing $800 in cash from a woman in Hell’s Kitchen Tuesday night. The 67-year-old victim told police that as she was walking down West End Avenue near West 59th Street, a man approached her and quickly yanked her purse out of her arms before fleeing...
-2 points by New York Post | Road Debit card Credit card Eleventh Avenue Mobile phone Female Gender Upper West Side
Save consumer protector: Our view
Richard Cordray deserves to stay director of CFPB.         
-2 points by Arizona Republic | Law Bank Political action committee Consumer Consumer protection Overdraft President of the United States Credit card
Aurora Crime Blotter: Red-handed burglars flee in moving truck
Two men rummaging through another man's garage in the 22000 of East Briarwood Drive ran out when the man came home Jan. 15. The suspects jumped into a U-Haul rental truck and sped off.
1 points by The Denver Post | Credit card Credit history 24 Hour Fitness Truck American Express English-language films Suspect Automobile
Havertown podiatrist sentenced to 8 years in $5M health-care fraud

-2 points by The Philadelphia Inquirer | Fraud Credit card Podiatry Law Abuse Plea Medicare Federal Bureau of Investigation
Wait, math is racist?
It's no surprise that inequality in the U.S. is on the rise. But what you might not know is that math is partly to blame.
23264 points by CNN | Credit score Credit history Credit rating Credit Dow Jones Industrial Average Dow Jones & Company Credit card Personal finance
Shady $1.7B Iran payout was cash-only deal, White House says
The $1.7 billion transferred to Iran earlier this year was an all-cash deal, the Obama administration said Wednesday.
60 points by Daily News | Money Barack Obama United States House Committee on Foreign Affairs Payment United States Senate Ed Royce Democratic Party Credit card
Michigan lawmaker resigns to resolve criminal loan charges
LANSING, Mich. (AP) — A Michigan lawmaker with a lengthy criminal record resigned from office Monday as part of a plea deal to resolve charges that he submitted fraudulent pay stubs to secure a $3,000 loan in 2010.
-2 points by Arizona Daily Star | Credit card Fraud Credit card fraud Criminal law Michigan Pleas Credit Bank
State Rep. Brian Banks resigns in plea deal over falsified documents
The Harper Woods Democract had faced felony charges but pleaded guilty to a misdemeanor and resigned his seat today.        
-2 points by Detroit Free Press | United States House of Representatives Felony Pleas Criminal law Arraignment Credit card Plea Alford plea
Police: Pa. woman used $1.2M forged check to try to buy house
DILLSBURG, Pa.— Police said a York County woman tried to buy a house by forging a $1.2 million check from a credit union last month.
-2 points by Pittsburgh Post-Gazette | Credit card Real estate Bank York County Pennsylvania Crime Fraud Trial Credit union
Cops: Woman used $1.2M forged check to try to buy house
DILLSBURG, Pa. (AP) — Police say a Pennsylvania woman tried to buy a house by forging a $1.2 million check from a credit union.
-2 points by Arizona Daily Star | English-language films Real estate Bank Credit card Trial Credit union Internet Preliminary hearing
Will autoworkers save or spend bonus checks?
Talk of new carpeting, campers, cars and vacations builds as auto workers prepare to collect profit-sharing checks.        
113 points by Detroit Free Press | General Motors Automotive industry Debt Chrysler Credit card Money Fiat Payment
Legless subway toker lost $4M settlement, sues over stolen check
If you had her life, you’d smoke blunts on the subway too.
475 points by Daily News | JPMorgan Chase J.P. Morgan & Co. Cash House of Morgan Chase Johnny Cash Cheque Credit card
Joint-smoking subway rider was once a millionaire
The viral video showed a legless woman sitting on the floor of a subway platform, wheelchair beside her, belongings scattered. She had just smoked a joint on the M train, yelling incoherently at an angry straphanger who cursed her out and threatened to toss her off the train. The cell-phone video seemed to document a...
2424 points by New York Post | New York City JPMorgan Chase Credit card Public transport Train station Amtrak Money Manhattan
Baltimore restaurant moves to cashless transactions
BALTIMORE (AP) - After being held up at gunpoint for the fifth time in four months, the Park Cafe & Coffee Bar made a radical change for a business that relies on small transactions. A sign on the Bolton Hill cafe's door explains: "Due to the recent robberies and continued ...
1 points by The Washington Times | Debit card Credit card MasterCard Cheque Euro Money Payment EMV
Can you hear me? What matters is phone fraudsters hear you
Will saying "Yes" automatically cost you money after one of these "Can You Hear Me?" calls? Not necessarily. But don't answer the phone anyway.         
-2 points by Arizona Republic | Telephone number Telephone call Telephone Fraud Credit card Telephone exchange Better Business Bureau Business
US stocks jump following strong January jobs report
NEW YORK (AP) — U.S. stocks are climbing Friday morning after the government said employers stepped up their hiring last month, another positive sign for the U.S. economy.
-2 points by Arizona Daily Star | Dow Jones Industrial Average New York Stock Exchange Credit card Stock market index Dow Jones & Company NASDAQ Stock exchange Stock
Park Café's move to cashless part of larger shift toward cash-free business
After being held up at gunpoint for the fifth time in four months, the Park Cafe & Coffee Bar made a radical change for a business that relies on small transactions.A sign on the Bolton Hill cafe's door explains: "Due to the recent robberies and continued crime in the neighborhood we are no longer...
-2 points by Baltimore Sun | Debit card Credit card Cheque MasterCard Euro Payment Money EMV
This family collaborated on a book to help college students fight debt
A couple teamed up with their recent college grad daughter for a money guide aimed at her peers.       
813 points by USA Today | Credit history Debt College Credit card Money Finance Liberal arts college Credit rating
New parents can save money (and sleep better) with these 5 tips
If you’re a new parent, you’ll probably have some sleepless nights. But worrying about how you’ll pay for the next package of diapers or college tuition shouldn’t be the reason. Use these strategies to cut costs now and build wealth long term, so you can focus on the joys of parenthood. 1. Ask...
19 points by Los Angeles Times | Flexible spending account Credit card Investment Taxation in the United States Personal finance Debt 529 plan Loyalty program
Are you really ready for Black Friday?
Black Friday is right around the corner, and if you don’t have a game plan for shopping the biggest sales of the season, you could miss out on some of the best deals of the year.
17 points by Las Vegas Review-Journal | Christmas and holiday season Retailing Black Friday Credit union Credit card Exonumia Thanksgiving Department store