SAN FRANCISCO — The first significant revision to the payment card industry data security standards (PCI DSS) since they're implementation includes a deadline for the largest card processing merchants to certify they are no longer storing consumers' sensitive card data."Hackers are looking for this type of data because of its use in counterfeiting payment cards, and that is why Visa prohibits its storage," said Eduardo Perez, Visa's head of global data security.PCI DSS were developed and promulgated by the Data Security Council, an industry body with representatives from all the major card brands that sets card data security standards for the entire card payments system. The Sept. 30, 2009 deadline affects merchants that process more than one million card transactions per year (so-called level one and two merchants).Merchants found not in compliance after that date can be fined and face other enforcement measures, the brand said. Previously Visa has suggested the majority of the biggest merchants are already compliant with the data security standards.

Dorsa Sees CU-RealtorsDisconnect on FOM

LAS VEGAS — American Credit Union Mortgage Association President Bob Dorsa had high hopes for last week's National Association of Realtors convention but said he encountered the same frustrating response that most credit union business development representatives do: a gaping disconnect between credit unions and Realtors."Probably half the Realtors I spoke to belong to a credit union somewhere, but they just couldn't seem to make the leap to referring credit unions to their clients," Dorsa said. "Like most members, they see the credit union only as a good place to get a cheap car loan, as frustrating as that is."Dorsa also said most Realtors assumed their clients weren't eligible to join any credit union and had a hard time grasping the concept of a community charter."Eligibility is the most fundamental thing I can think of that we have neglected to educate the general public about," he said. "Literally, anyone in country is eligible to join a credit union, somehow, somewhere, and until we get beyond that, I don't think we'll feel like we took full advantage of this opportunity."Dorsa said credit unions in search of mortgage loans should first data mine within their own shops, identifying and educating existing members who are real estate agents.The ACUMA leader said he hopes the newly approved REALTORS Federal Credit Union will also help raise credit union awareness among Realtors."It's my hope that as they roll out that credit union, maybe the Realtors will gain some new appreciation for the credit union system," he said.Though he was in the exhibit hall for most of the Orlando event, Dorsa said, "I sure didn't see 25,000 realtors running around the exhibit hall, so my sense is that it was off quite a bit from last year in Vegas.""Obviously, the impact of Florida's housingsituation probably didn't attract as many people from within the state as usual. I hope California's situation improves so next year's convention in San Diego willbe more exciting."