Four Men Indicted for Massive, Multi-Million Dollar Hack

Four men have been indicted on charges that they hacked into financial institutions across the globe and used stolen information to manipulate stocks, commit credit card fraud and operate illegal online casinos. The hackers and their conspirators generated over $100 million … Continue reading

JP Morgan to Launch Chase Pay to Compete with Apple Pay

In an effort to compete with other digital wallets such as Apple Pay, PayPal and Android Pay, JP Morgan Chase will introduce Chase Pay in the coming year. The company plans to make it easier for its users to make purchases … Continue reading

Chase Replaces Square as the Payment Processor for Starbucks

Starbucks will soon be partnering with JPMorgan Chase to handle non-mobile payments for the coffee chain. Currently, this task is performed by Square, the company known mostly for its mobile credit and debit card readers. Square has processed payments for … Continue reading

Top 10 Credit Card Stories of 2013

Identity theft and actions by the Consumer Financial Protection Bureau dominated the credit card headlines in 2013. Below are the Top 10 news stories of the year in the credit card industry. One of the largest data breaches in history … Continue reading

Legal Costs Lead to JPMorgan Chase’s First Quarterly Loss Since 2004

JPMorgan Chase posted its first quarterly loss under CEO Jamie Dimon in the third quarter of 2013.The quarterly loss was $380 million compared to a profit of $5.71 billion a year ago. It was the first time the bank failed to report a … Continue reading Weekly Credit Card Update–September 27, 2013

Google Wallet Arrives on iPhone Google introduced the Wallet app to the iPhone, a move which will hasten the replacement of cash and credit cards. The iOS app will allow users to store gift and loyalty cards and send cash … Continue reading Weekly Credit Card Update–September 20, 2013

CFPB's Data Mining of Credit Card Data Challenged in Heated House Hearing Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year--up to 42 billion transactions--through a controversial data-mining … Continue reading

JPMorgan Chase to Refund $309 Million for Illegal Credit Card Activity

The Consumer Financial Protection Bureau announced today that JPMorgan Chase must refund $309 million to credit card customers that were improperly billed for add-on products. The CFPB and the Office of the Comptroller of the Currency concluded that 2.1 million … Continue reading

JPMorgan Settlements Nearing Completion

JPMorgan Chase Bank has been dealing with a series of court cases lately, and it seems that two of them are finally coming to a close. One case involves the company's credit card collection practices, and the other deals with … Continue reading Weekly Credit Card Update–May 17, 2013

The Long Shadow of Bad Credit in Job Search Over the last several decades, credit reporting bureaus have been selling their services to a much wider range of buyers than just banks.  Nearly half of employers use credit checks when … Continue reading

Libor Scandal Still Shaking the Financial World

The Libor financial scandal has been bumped from the headlines, but governments and regulators around the world are reacting through regulations and legislation that will reshape Libor and how rates are set. Investigations into banks and criticism of public officials … Continue reading