Payments/Credit/Debit

Concerns over card security may have dampened American enthusiasm for the debit card but it has definitely not reversed it, according to a survey sponsored by the STAR Network, an ATM and EFT network, a subsidiary of card processor First Data Corp.

Comptroller of the Currency John Dugan has taken a stand in favor of a change in card regulation that goes beyond one that has been currently proposed by the Federal Reserve.

The most recent survey from Bankrate.com has found that banking fees are at their highest ever and do not seem poised to drop anytime soon.

After months of anticipation, the latest significant expansion of nationwide shared branching has come online.

Credit unions who process their ATM and debit transactions with the PULSE EFT Association will soon have available another level of fraud protection, according to an announcement from the organization, which is an affiliate of Discover Financial Services.

Credit unions will soon have another option for offering their members a prepaid card. CO-OP Financial Services, the parent CUSO of the CO-OP Network, has announced it will have a prepaid card ready for participating credit unions to issue by the beginning of the fourth quarter of this year.

A study sponsored by the American Banker's Association advised against changing credit card regulation of card interest rates and fees, arguing that doing so would hurt the ability of people with lower credit scores to access credit.

The $180 million Continental Federal Credit Union, headquartered in El Segundo, Calif., has moved its 15,000-card debit portfolio to PSCU Financial Services. PSCU Financial Services is the payment processing CUSO that serves over 500 credit unions who use the First Data Corp. card platform.