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Apple, Goldman Penalized $89M Over 'New Kind of Credit Card'

Regulators say companies inflicted 'real harm' to thousands of consumers with Apple Card

(Newser) - Government regulators on Wednesday ordered Apple and Goldman Sachs to pay a combined $89 million in penalties and restitution for misleading consumers about the Apple Card and mishandling their complaints. The Consumer Financial Protection Bureau said its investigation found the partners violated the Consumer Financial Protection Act and the Truth...

Huge Credit Card Late Fees May Be Going Away

New regulation capping late charges at $8 goes into effect in spring, but banks will likely push back

(Newser) - Back in October, the White House announced an ambitious initiative to get rid of rampant junk fees, including in the banking industry. On Tuesday, the Consumer Financial Protection Bureau announced a big move toward that end, with a new regulation that will significantly reduce the late fees that customers have...

Capital One-Discover Deal Faces 'Gale-Force Headwinds'
Capital One-Discover Deal
Seen as 'Dangerous'
THE RUNDOWN
Feb 21, 2024 9:03 AM CST

Capital One-Discover Deal Seen as 'Dangerous'

Sen. Elizabeth Warren leads charge against $35B merger, saying it will hurt 'working people'

(Newser) - Capital One announced on Monday that it was buying Discover Financial Services, in a $35 billion deal to combine two of the nation's largest credit-card firms. But experts say it will take at least a year for the merger to be completed, and there's already pushback from advocacy...

By Returning What He Stole in 1999, Thief Revealed Himself

He used his credit card to pay to ship the gold-painted weathervane back

(Newser) - A thief returned what he stole more than two decades ago anonymously—but he didn't remain anonymous for long. AFP reports a gold-painted weathervane that sat atop a Catholic cross in southwestern France was taken from its perch in April 1999. Over the years, historian Michel Sabatery wrote about...

Records Show Bolsonaro Charged Up a Storm on Corporate Card

Newly released credit card bills for Brazil's ex-leader show he really seems to love ice cream

(Newser) - While Jair Bolsonaro is living his new best life in the Sunshine State, news has emerged that shows he appears to have lived his old best life on the Brazilian government's dime. His official credit card expenditures while he was president of the South American nation were released Friday,...

Household Debt Just Had Its Biggest Increase Since 2007

Researchers say credit card, mortgage balances are rising sharply

(Newser) - During the early days of the pandemic, consumers weren't breaking out their credit cards. Those days are behind us. Household debt is now surging, with credit card balances seeing their biggest rise in more than 20 years in the third quarter of this year, researchers say. The Federal Reserve...

Mastercard Users, Say Goodbye to the Magnetic Stripe

Card issuer is doing away with them entirely by 2033

(Newser) - The magnetic strip will soon be a thing of the past for Mastercard users. The card company plans to do away with the strips on all of the credit and debit cards it issues by 2029, and the cards will have been completely phased out by 2033. New cards will...

Credit Card Company, Canada Respond to Pornhub Claims

The move comes after a scathing 'New York Times' column

(Newser) - Looks like Mastercard isn't just letting the Pornhub allegations slide. Days after New York Times columnist Nicholas Kristof leveled accusations against the adult website—citing its alleged revenge pornography, child abuse, and footage of women being asphyxiated—Mastercard says it is investigating, Reuters reports. "If the claims are...

His Profane Tweets About the Apple Card Went Viral
His Profane Tweets About
the Apple Card Went Viral
the rundown
Nov 11, 2019 12:10 PM CST

His Profane Tweets About the Apple Card Went Viral

And are leading to a probe of Goldman Sachs' credit card practices

(Newser) - David Heinemeier Hansson says his wife has the superior credit score. They file their taxes jointly. And while the tech entrepreneur didn't provide any other personal financial information, he did disclose an alleged financial injustice on Thursday. In a series of tweets that have continued through Monday, the Ruby...

A Customer's Card Got Declined. Then, 'One of the Kindest Acts'
Cashier Didn't
Think Anyone
Noticed His Good
Deed. They Did
in case you missed it
Oct 12, 2019 7:00 AM CDT

Cashier Didn't Think Anyone Noticed His Good Deed. They Did

David Vance quietly paid for elderly man's groceries out of his own pocket after the customer's credit card kept getting declined

(Newser) - David Vance tried to pull off a subtle act of kindness for someone in financial straits last month, but someone noticed, posted about it online, and now the grocery store cashier in Northern Ireland is being hailed around the world. Vance, who works at a Lidl in Belfast, was working...

His Alleged Method of Stealing 1.3K Credit Cards Is Incredible

Yusuke Taniguchi memorized names, numbers on cards that passed through his register

(Newser) - While the rest of us struggle to remember what we had for lunch yesterday, Yusuke Taniguchi apparently has a much easier time with recall. Gizmodo reports that the 34-year-old part-time mall clerk in Koto City, Japan, was allegedly able to steal more than 1,300 credit cards from his customers—...

The Apple Card Is Here
The Apple Card Is Here
Aug 6, 2019 12:05 PM CDT

The Apple Card Is Here

Apple's credit card debuts

(Newser) - Hundreds of thousands of people signed up to be the first to hear when Apple would release its first credit card. Five months later that card is out, but it's not yet available to all. A limited number of those people were randomly selected by the company to get...

Online Bragging Led to Alleged Capital One Hacker

User named 'erratic' has been writing about the data

(Newser) - It's one of the biggest-ever data breaches of a bank—and an arrest has been made. That might be of little solace to the 106 million Capital One credit card customers and applicants who had their data stolen in late March. Paige Thompson, 33, was arrested Monday in Seattle....

10,000% Tip May Not Have Been as Kind as Waitress Thought

Cops say it was an act of revenge on woman's boyfriend

(Newser) - A woman dined at a Florida restaurant last week, leaving a 10,000% tip on a $55.37 breakfast bill. But what her waitress interpreted as a kind gesture after the death of her dog, per WFTS , was actually far from it. USA Today reports that Serina Wolfe and boyfriend...

Mastercard Drops Its Name From Its Logo

New logo will feature just those two interlocking circles

(Newser) - What's in a name? For Mastercard, not enough to keep it in the logo. The company is removing the word Mastercard from the pair of interlocking red and yellow circles where it has resided for more than 50 years, the AP reports. Mastercard Inc. joins a small stable of...

Cops: He Stole Her Credit Card, Picked Wrong Place to Use It
Cops: He Stole Her Credit Card,
Picked Wrong Place to Use It
in case you missed it
Jun 30, 2018 12:50 PM CDT

Cops: He Stole Her Credit Card, Picked Wrong Place to Use It

Shamon West allegedly tried to pay his bill using his waitress' own card

(Newser) - The Arkansas waitress ended up getting a good tip from the table, but one of a different sort. Flora Lunsford, 58, was working a Tuesday morning shift at Shannon's Restaurant in Pine Bluff when she went to process a customer's payment, reports KATV . Thing is, the credit card...

She Used Her Parents' Card to Rent a Party House. It Did Not End Well

Parents agree to pay $20K for repairs

(Newser) - A party that left a house in West Vancouver, Canada, trashed should serve as a lesson to teenagers, parents, and people who rent out homes online, police say. Authorities say a 14-year-old girl used her parents' credit card—without their permission—to rent out a luxury home for the March...

Kevin Barnaby's Credit Stinks. He's 4 Years Old
Kevin Barnaby's
Credit Stinks.
He's 4 Years Old
longform
Feb 3, 2018 7:33 AM CST

Kevin Barnaby's Credit Stinks. He's 4 Years Old

BuzzFeed looks at the hazy and thorny issue of child identity theft

(Newser) - Like a lot of Americans, Kevin Barnaby Jr.'s credit is messed up. The difference in his case is that he's a 4-year-old with two Capital One credit card accounts. Writing for BuzzFeed , Leticia Miranda uses his story as a launchpad from which to dive into the hazy...

Teen Runs Up $7.6K Bill Playing Xbox

He's claiming ignorance over Dad's credit card bill

(Newser) - A Canadian kid is in deep poutine after charging more than $7,600 onto his father's credit card while playing a FIFA video game on his Xbox, the CBC reports. Lance Perkins says he was "floored" when he got the bill Dec. 23. Perkins' 17-year-old son told him...

There's a Man Who Has 1,497 Credit Cards

Walter Cavanagh holds world record for most valid credit cards

(Newser) - Walter Cavanagh of Santa Clara, Calif., holds the Guinness Book of World Records title of " Mr. Plastic Fantastic ," and Money revisited his story earlier this week. As it recounts, Cavanagh has 1,497 valid credit cards, adding up to $1.7 million in available credit. The wild stats...

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