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Credit Karma's Settlement of App Security Charges Approved
Credit Karma must establish security programs to address risks during the development of applications and must undergo security reviews for 20 years under a settlement of Federal Trade Commission charges.
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AB Acquisition LLC, an Idaho-based company that owns and operates several supermarket chains, reported confirmed that customers' credit and debit card data may have been compromised in a data breach. more »
Americans are spending more in 2014 compared to a year ago, apparently driven by Baby Boomers - although that generation is not necessarily spending for the things they want, according to a recent Gallup poll. more »
"We don't pay any attention to medical debt simply because medical billing is so confusing and it's difficult to tell whether or not the person actually owes the money," said Robert Messer, executive vice president and chief financial officer of the $2.4 billion-asset American National Bank of Texas based in Terrell.
When Fair Isaac Co. announced a new credit scoring model last week, it earned significant media attention and won praise for helping consumers marred by medical debt to boost their scores. more »
An email spammer and his company have settled federal charges that they sent deceptive emails in advance of the Affordable Care Act roll-out, claiming consumers would be violating the law if they did not click a link to enroll in health insurance. more »
FICO has launched a credit risk prognosis tool financial institutions can use to stress-test their consumer loan portfolios. more »
P.F. Chang's has provided an update on the data breach it disclosed in June, revealing that the incident affected 33 restaurants with a specific timeframe for each location. more »
The operator of a massive mobile cramming scheme agreed to surrender more than $1.2 million in assets to settle FTC charges. The assets include several bank accounts, two luxury cars, shares in a number of startup companies and multiple luxury watches. more »
Bloomberg News
"It's really a race against the clock right now to see whether we can get this done," said James Ballentine, executive vice president of congressional relations and political affairs at the American Bankers Association.
WASHINGTON — The banking industry is stepping up pressure on the Senate to pass a cybersecurity bill this fall that would expand information sharing on cyber threats between private companies and the federal government. more »
Seven defendants were charged Friday with illegally processing credit card payments on behalf of a massive Internet scam that allegedly bilked millions of dollars from consumers by repeatedly charging them for "trial" memberships they never ordered. more »
"A credit score without a report is like trying to hit a bull's-eye on a moving target," said Ken Lin, chief executive and founder of Credit Karma.
Historically, only lenders have had unlimited access to consumers' complete credit files, while consumers are generally restricted to obtaining just one free credit report a year from major credit bureaus. Credit Karma is making that data even more accessible so that consumers can better understand how lenders evaluate their creditworthiness. more »
Capital One and three collection agencies will pay $75 million to settle Telephone Consumer Protection Act class-action claims. It's the largest cash settlement in the TCPA's history. more »
A federal court has shut down a mobile phone cramming scheme that piled more than $100 million in charges on consumers’ mobile phone bills without permission. more »

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