Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUs find uptick in card fraud
HIGHTSTOWN, N.J. (5/12/11)--Credit unions nationwide have experienced an increase in card fraud within the past few weeks (New Jersey Credit Union League The Daily Exchange May 2), according to CUNA Mutual Group. The fraudulent transactions are occurring both within and outside of the U.S. with Visa and MasterCard credit and debit cards. Several exchanges have taken place with card processors and the card associations in an attempt to determine the common point of purchase (CPP). To effectively mitigate losses, it is vital to determine the CPP, which is the location where the member’s card may have been compromised. CUNA Mutual Group is seeking the cooperation of credit unions by working together with their card processors and the card associations to help pinpoint the CPPs. The losses involve “card present” transactions (magnetic stripe, signature-based fraud). This may involve a system intrusion rather than skimming, according to CUNA Mutual.
Other Resources

RSS print
News Now LiveWire
See @CUNA's @SchenkMike on TheStreet discussing a new surge consumer confidence http://t.co/SqjarTBLCQ
14 minutes ago
.@CFPB pushes back cmmt deadline on proposal to allow consumer narratives in complaints database--now 9/22, was 8/22. http://t.co/mHLlRVjEij
49 minutes ago
@FHFA will hold 8/14 outreach in Atlanta for homeowners who still could benefit from the HARP refinance program. More in #NewsNow Thurs.
56 minutes ago
Access to Affordable Mortgages Act passed by Hse Fin Serv. 31-23.CUNA says bill gives CUs reg relief & incr. access to mortg credit.
1 hours ago
Bill sponsor said will support amndmt to incl. NCUA in the study & delay the agency's risk-based capital plan b4 full House vote. 2of2
1 hours ago