Payments/Credit/Debit

TNB Cards Services, the card processing arm of credit union owned Town North Bank has continued to add card processing client credit unions as it has also purchased credit union card portfolios.

TNB Cards Services, the card processing arm of credit union owned Town North Bank has continued to add card processing client credit unions as it has also purchased credit union card portfolios.

The Fair Isaac Corporation, the originator of the very widely used FICO scores for measuring credit histories, has announced that a change in the way it calculates the score will eliminate the ability of some with good credit scores to rent them out to people with lower credit scores.

A study from Experian, one of the three big credit reporting bureaus, has found that the credit scores of people with perfect car payment histories can be as much as 100 points higher than those who have even one late payment.

Bank of America is introducing an American Express card that it said will be targeted toward its wealthiest depositors.

Visa USA's effort to spread contactless payments even further has continued to gain ground, this time moving into the back seats of New York City taxicabs.

In what might seem a quixotic gesture of optimism, the $1.4 billion HarborOne Credit Union has not turned first to lawyers or to litigation to recover money it said it lost in a recent card security breach. It has sent the retailer that caused the breach a bill--for $590,000.

With their constituents complaints about credit card practices ringing in their ears lawmakers on the House Financial Services Committee from both sides of the aisle signaled their displeasure with many current credit card management practices and a willingness to regulate them further.