WVF

ATM EMV Liability Shift Forces Tough Calls at Credit Unions

How are Visa or MasterCard going to know what the precise “weak link in the chain” was when someone actually skimmed your card information? Criminals could place a card skimmer on top of a machine that is EMV chip-enabled and still lift the card information off the magnetic stripe without the cardholder ever knowing about it! Or they could capture an image of the card number, cardholder's name, expiration date and CVV code without even reading the magnetic stripe.

One time I saw a questionable transaction on my American Express card made just two days before my login purchasing a one day's fare on a local transit system 3,000 miles from my home (in a city that I last visited six months ago).

As I was on the phone with AmEx, an online authorization attempt was made for a monthly fare pass from the very same transit system, at an automated kiosk. Good timing on my part!

The account was closed on the spot and [a card was] reissued to me with a new account. AmEx did not send me any paperwork to follow up with; they handled it quickly and thoroughly.

Likewise, Capital One phoned me up about two small-sized authorizations (under $10 each) 2,500 miles away, in a city that I never visited, for a card that I seldom used more than once a month and always in my local neighborhood.

Gary M. Klein

Tennessee Credit Union Invests in Startups

I applaud them for doing this. Small businesses need all the help they can get. However, this isn't novel. UT Federal Credit Union did this more than two years ago. In fact, it garnered them national awards for their Line12 program.

Jonathan Mills Patrick

Feds Review Wells Fargo Labor Practices

I love the chutzpah of CU Times reaching out to Wells Fargo for comment!

Brandon Ivie

CUNA, NAFCU Unite to Fight Bankers' MBL Suit

Unless H.R. 1151 can be repealed, the banking industry might as well forget it. The genie is out of the bottle and CUSOs are flourishing.

WVF