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.
September 5, 2001 |
Wal-Mart Stores Inc., the biggest retailer, said it will stop accepting debit cards handled by Visa International Inc.'s Interlink subsidiary after the unit raised fees it charges merchants. The Bentonville, Ark.-based retailer, which led an antitrust lawsuit against Visa and MasterCard International in the late 1990s, said an increase of fees on Interlink cards to 45 cents a transaction, from 20 cents, was too steep. Wal-Mart will stop accepting the cards Oct. 13.
CALIFORNIA | LOCAL
January 7, 2004 |
Yuba County will soon replace paper food stamps with state-issued debit cards that keep track of recipients' benefits. The new system, called electronic benefits transfer, should be in place by Feb. 1. It will allow people eligible for CalWORKS and food stamp programs to get their benefits thorough plastic debit cards, similar to automated teller machine cards.
March 31, 1998 |
State lawmakers on Monday called for greater consumer protections on debit cards, unveiling legislation that would cap cardholders' liability for unauthorized use at $50. The bill, AB 1638 by Assembly Speaker Antonio Villaraigosa (D-Los Angeles) and Assemblywoman Valerie Brown (D-Kenwood), would also require banks to replace stolen funds due to fraudulent use within two business days.
August 9, 1996 |
For many shoppers, the question "paper or plastic?" is taking on a new meaning--that is, whether to use a check or a debit card. After years of negligible popularity, debit cards are starting to seriously compete with checks, particularly as banks offer and promote combined ATM/debit cards that can be used anywhere that credit cards are accepted.
April 29, 1998 |
An Assembly committee approved legislation to grant users of debit cards protections similar to those enjoyed by credit cardholders. AB 1638 by Assembly Speaker Antonio Villaraigosa (D-Los Angeles) and Assemblywoman Valerie Brown (D-Kenwood) had failed in a legislative committee last week when Assembly Banking Committee Chairman Lou Papan (D-Millbrae) inadvertently closed the vote before fellow lawmaker Kerry Mazzoni (D-San Rafael) could register her support.
July 31, 1997 |
MasterCard International said it wouldn't hold consumers liable for more than $50 when a thief steals a debit card, which makes immediate payments from checking accounts. Before the change by MasterCard, the No. 2 player in the branded debit-card business, consumers were potentially liable for anything bought with a stolen debit card.
CALIFORNIA | LOCAL
January 15, 1997 |
Rule No. 1 on the card's back shouts it out: "Possession of this card by anyone other than the owner is a VIOLATION OF JAIL RULES." It's a warning to Los Angeles County Jail inmates--who use the cards to access petty cash while locked up--to watch their backs. The cards have sparked violence. Up to three years ago, inmates were allowed to carry cash to purchase items such as toothpaste, stationery, pens, pencils, cookies and candy bars, said Lt.
May 15, 1992 |
Wells Fargo Bank next month will begin charging a $1 monthly fee for debit card transactions, part of a new round of fee hikes by banks seeking to shore up their bottom lines. Wells Fargo spokeswoman Kim Kellogg said the fee matches a transaction fee imposed last fall by archrival Bank of America. "We are meeting the competition," she said.
April 22, 1998 |
A proposal to increase protections for debit card users stumbled in the Legislature when it failed to win the support of a key committee. Assembly Bill 1638 fell one vote short of passing the Assembly's Banking and Finance Committee. But proponents described the setback as temporary and said the measure will probably be approved when it is reconsidered by the committee next week.