Banking & Credit Cards
How banks, credit cards, and payment systems work. Covers products, rates, fees, regulations, and what consumers need to know to navigate the banking system.
Latest in Banking & Credit Cards
The consumer bureau backed a national financial literacy strategy on October 2 that names scams and fraud education one of four federal priorities
On October 2 the Consumer Financial Protection Bureau announced its support for the 2026 update of the National Strategy for Financial Literacy, a federal plan...
The SEC says a California adviser kept winning trades and gave clients the losers
The Securities and Exchange Commission sued an Encinitas, California, investment adviser on October 6, saying he kept the winning trades from his clients’ block orders...
No federally insured bank has failed since a Kansas lender closed on July 17
The Federal Deposit Insurance Corporation’s failure list shows four insured banks closed in 2026, and none since Small Business Bank of Lenexa, Kansas, shut on...
A cyberattack on bank auditor Mercadien exposed data on 402,741 people, and nine banks and credit unions including Orrstown Bank have confirmed customers were hit
Mercadien, a Hamilton, New Jersey firm that audits banks and credit unions, told the Indiana attorney general in February that an intruder took personal data...
A court appointed a receiver on October 8 to liquidate four funds run by New York adviser SQN Capital and ordered its chief executive to pay a $200,000 SEC penalty over what the agency says were inflated valuations
A federal court in New York appointed a receiver on October 8 to liquidate four investment funds run by SQN Capital Management, and ordered the...
A $750,000 settlement with retirement-plan administrator PARS would pay about 23,337 data breach victims around $19 each, automatically, with opt-outs due December 1
About 23,337 people whose names and Social Security numbers may have been taken in a March 2024 cyberattack on Public Agency Retirement Services, known as...
Stanford Federal Credit Union’s $450,000 settlement would pay members charged repeat fees on the same returned check, pending a December 10 hearing
A $450,000 settlement fund would pay Stanford Federal Credit Union members who were charged a second fee when the same check or electronic payment bounced...
Americold employees and job applicants notified of two data breaches have until October 22 to claim, with up to $25,000 for documented losses
People notified of either of two Americold data breaches have until October 22, ten days from now, to file a claim in a $5,250,000 class-action...
Eight liquidated credit unions still hold unclaimed member deposits, and NCUA pays them at the full insured amount only within 18 months, after which the shares are uninsured
Eight credit unions that federal regulators shut down still have member share accounts waiting on the National Credit Union Administration’s unclaimed deposits list, and the...
Federal benefit recipients on a Direct Express card now reach two service lines, 1-888-741-1115 for cards starting 5332 and 1-833-347-9777 for 5141
Treasury’s Bureau of the Fiscal Service now lists two customer service numbers for the Direct Express card, and the right one depends on the first...
AT&T’s breach settlement cleared about 3.92 million claims on October 2 and rejected 1,099,732, including 804,381 flagged as fraudulent, with no money moving until the November 2 appeal window closes
A federal judge in Texas approved AT&T’s $177 million data breach settlement on October 2, and the claims count that came with the order shows...
Concora Credit’s prerecorded-call settlement sets an estimated $250 to $650 for cellphone users who were not accountholders, with claims due Oct. 19
Concora Credit Inc. has agreed to pay $9.375 million to settle a federal lawsuit over prerecorded phone calls, but only $8.375 million of that goes...
CBIZ’s data breach settlement for a 19,990-person class is taking claims until Dec. 24
A mailed postcard carrying a LoginID and a PIN is the only key to a $485,000 settlement over a 2024 data breach at CBIZ, the...
Money market funds swelled to $7.96 trillion in the week ended Oct. 7, ICI says
Money market funds took in $72.27 billion in the week ended Wednesday, Oct. 7, lifting total assets to $7.96 trillion, the Investment Company Institute (ICI)...
Carter Federal Credit Union breach settlement claims are due Nov. 19
People whose Social Security, account or card numbers sat in files taken from Carter Federal Credit Union in June 2025 have until Nov. 19, 2026...
Mortgage Investors Group breach settlement claims are due Nov. 19; opt-outs close Oct. 20
Staying in or stepping out is the first choice facing people covered by the Mortgage Investors Group data settlement, and it has to be made...
Bank customers notified of the Finastra file-transfer data breach have until Nov. 27 to file a settlement claim, with a final hearing set for Dec. 14
A bank software vendor that most of its affected customers never chose has agreed to a $3,125,000 settlement over a 2024 cyberattack, and the deadline...
People caught in student loan servicer ECSI’s 2023-2024 data breach have until Dec. 21 to file for a cash payment or loss reimbursement
A guest lookup for student loan tax forms on the website of Educational Computer Systems, Inc., known as ECSI, is what attackers used to pull...
A Florida accounting and operations manager admitted diverting more than $3.9 million in customer payments to pay for clothing, travel and electronics
Colleen Kieran, 57, of Clermont, Florida, has pleaded guilty to three counts of wire fraud for moving more than $3.9 million in customer payments out...
A Maryland man is accused of using credit cards issued to other people to buy gift cards, and victims’ identities to buy vehicles, with $53,300.49 in losses across 21 victims
Sharieff Tate Pierre, 36, of Randallstown, Maryland, has been indicted on 21 counts of wire fraud and 21 counts of aggravated identity theft, the U.S....