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Posted: Jan 19, 2016
Comments: 0
Author: Lou Grilli

The U.S. House Financial Services Committee recently passed the Data Security Act of 2015. The bill has some positive implications to credit unions and financial institutions, but does present some challenges for state privacy laws and small businesses. The act would establish consistent standards nationwide for data security requirements and data breach notification requirements.

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Posted: Jan 7, 2016
Categories: Credit Cards, Fraud
Comments: 0
Author: Bill Lehman

Payment kiting involves a cardholder making multiple payments (phone, Web, or check) to free up available credit. The cardholder then conducts purchases or cash advances multiple times within the cycle before the payment has a chance to return.

There are 7 best practices that a credit union should employ to identify and thwart payment kiting fraud.

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