February 13, 2014 |
The U.S. Government Accountability Office on Thursday urged more transparency in the debit card system used to electronically disburse college students' financial aid, and said that transaction fees for the cards quickly add up. In a report , the GAO said that the use of debit cards has risen over the last decade. Though only 11% of schools in the U.S. have contracts with companies to offer the debit cards, the 852 schools that do are disproportionately large, accounting for 40% of U.S. college enrollment, according to the GAO. Congressional investigators said that though fees on the debit cards are comparable to conventional bank-issued cards, two large companies charge fees for purchases made using a personal identification number, or PIN. Those charges can quickly accumulate.
November 24, 1996
While renting a car at Budget Rent a Car at San Francisco Airport recently, I was informed that they would no longer honor debit cards, regardless of their association with Visa. I contacted Budget to be told only that they have had "too many problems with debit cards" and will no longer accept them as payment. I find this contradictory to the highly touted message of "Use it just like a Visa." Readers should be aware that if they possess a debit card with a Visa logo, Budget will not accept this as a form of payment or as a reservation hold.
April 2, 2012 |
Data from up to 1.5 million credit and debit cards from all major card brands, including MasterCard, Visa and Discover, may have been stolen in a data breach at processing firm Global Payments Inc. But so far, the company does not know of any fraudulent transactions on infiltrated accounts, said Chief Executive Paul R. Garcia in a conference call with analysts on Monday. The hack was confined to North America, he said. And while card numbers may have been swiped, the company said in a statement late Sunday that cardholder names, addresses and Social Security numbers are safe.
CALIFORNIA | LOCAL
November 2, 2010 |
California welfare recipients will no longer be able to use their state-issued debit cards at medical marijuana shops, psychics, massage parlors and many other businesses whose services have been deemed "inconsistent" with the goals of the program. The Schwarzenegger administration sent a letter to county welfare directors Monday announcing that ATMs and point-of-sale card readers in such business will be removed from the network that accepts California's Electronic Benefits Transfer cards.
March 28, 1997 |
Touted as the way to reduce welfare fraud, electronic debit cards are only as good as the people who accept them, Houston undercover officers discovered. Police opened their own convenience store and, if asked, gave cash instead of food to welfare recipients with the cards. They got their first request in a few days and after 10 weeks, 225 people allegedly wanted in on the deal, police said Wednesday.
August 13, 1997 |
Visa USA is expected today to announce that it will match rival MasterCard's new policy of limiting customer liability for unauthorized use of debit cards to $50, banking industry sources said. Legally, debit card holders can be held responsible for up to $500 or more if they do not report the loss within two business days of learning of the fraudulent use.