Investigation Finds Overdraft Fees Increased 11 Percent
PITTSBURGH — Valerie Reuben saw her overdraft fees hit $3,000 because of a mix up in a loan payment that was automatically withdrawn.Not only was she charged $38 each time her account was overdrawn, but additional fees for each day her account was overdrawn.She isn’t alone.A new investigative […]

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By David Sharp
AP
03/18/08 8:23 AM PT
Hannaford Bros., an East Coast chain of grocery stores, has reported that as many as 4.2 million customer credit and debit card numbers have been exposed, leading to about 1,800 reported cases of fraud. The breach in security did not expose personal information such as names or […]

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i2c to Process Bank Freedom Prepaid Debit Cards
LAS VEGAS, NV (February 15, 2008) i2c Inc. has been chosen as a prepaid debit card processing partner by Bank Freedom, a prepaid card program manager. Bank Freedom Prepaid card products are marketed exclusively by the Berman Marketing Group, Inc. a wholly owned subsidiary of Berman Holdings, Inc. […]

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Prepaid Manager to Head Processor
SALT LAKE CITY, UT (Feb. 29, 2008) Galileo Processing, Inc. announced that Todd Brockman is joining the company as its President. The appointment is effective immediately. Clay Wilkes will remain CEO.
Brockman ran the Visa prepaid business for the last seven years. As President of Galileo, he will be responsible for setting […]

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Motivano to Exit Flex Business
AVON, CT (March 5, 2008) Evolution Benefits has agreed to acquire the assets of Motivano’s SmartFlex benefits debit card business. Motivano said it made the decision to exit the flex business in order to focus on their other products.
“After meeting with all our key competitors, we determined Evolution Benefits’ platform was […]

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Procesa to Handle Transactions
AUSTIN, TX (March 3, 2008) NetSpend Corporation has entered into an agreement with Procesa International, LLC, that will give NetSpend customers the ability to pay bills or load minutes to cell phones for friends or family members living in Mexico, Central or South America. Procesa International is the sister company of Procesa-Mexico, […]

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By Kitty Bean Yancey, USA TODAY
Think carefully before handing over a debit card at a hotel front desk.
After saving for a San Francisco vacation, Manhattanite Lauren Hopkins checked into the Oakland Marriott City Center in August and was asked for a card to cover incidentals she might incur, such as meals, Internet connection or minibar […]

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By MADLEN READ – 2 days agoNEW YORK (AP) — Asset manager Ameriprise Financial Services Inc. is pairing up with MasterCard Inc. to become a credit card lender for the first time, the two companies planned to announce Monday.
It looks like a tough time to be entering the credit card space. Default […]

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Financial Experts: Plan ‘Makes It Way Too Easy’ to Get Cash From Savings
By Rich Thomaselli
Published: March 10, 2008
NEW YORK (AdAge.com) — At a time when mortgage defaults are at an all-time high, a New York company is marketing a debit card that allows users to withdraw money from their company […]

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SHERMAN OAKS, Calif., Feb 13, 2008 (BUSINESS WIRE) — EDebitPay, LLC, has partnered with ConveniaLoad to bring more card loading options to customers with prepaid debit cards. EDebitPay is a […]

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