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Counterfeit Credit Card Ring Busted in Pennsylvania
The Pennsylvania Attorney General's office has charged three people allegedly involved in a counterfeit credit card operation that stole tens of thousands of dollars by using fake credit cards with matching driver's licenses to make purchases and cash advances across the state.
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Consumer credit default ranks showed an uptick in September, according to the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults. more »
Staples Inc., the world’s largest office-supply chain, is investigating a potential breach of customer credit-card data, becoming the latest retailer to confront a threat from hackers in recent months. more »
The biggest fear cited by nearly 1,400 people who were polled is that they won't have enough money to pay the monthly bills. more »
A U.S. district court has stopped a group of marketers in California and Nevada from conducting business using "free" trial offers and tricking consumers into disclosing their credit and debit card information. more »
Sears' Kmart discount chain, the latest victim of hacker attacks on retailers, said it detected a security breach this week and is investigating the incident with law enforcement officials. more »
Americans showed more caution in taking on non-mortgage debt in August, according to the latest consumer borrowing report from the Federal Reserve. more »
JOBS EFFECT: "The better the incomes [consumers] have, the greater the capacity they have to meet debt obligations," ABA Chief Economist James Chessen said.
The gradual improvement in Americans' financial situations has led to a record low level of delinquency rates. more »
Consumer spending recovered in August as steady income growth and employment gains led more Americans to auto dealerships and retail stores, the Commerce Department said Monday. more »
Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million. more »
A U.S. appellate court on Wednesday upheld a district court ruling that several defendants operated a scheme selling phony debt relief programs and mortgage assistance. more »
Consumer default rates rose slightly in August, reversing a downward trend, according to the latest S&P/Experian Consumer Credit Default Indices. more »
The ability to stop using credit cards and pay cash for purchases can be a sign of financial stability as it proves a person’s lifestyle is in line with their income, according to an industry association. Not surprisingly, many people are in the danger zone. more »

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