Baron and Budd Investigating Deceptive Bank Overdraft Fees

The law firm of Baron and Budd is investigating excessive bank overdraft fees charged by regional banks. Through the firm’s work on national litigation concerning allegedly manipulative bank overdraft fees practices, Baron and Budd has exposed an overdraft fee charging scheme perpetrated by large national banks, such as Bank of America and JPMorgan Chase, designed to maximize the overdraft fees charged. Through a system designed to maximize the overdraft charges, usually $30 to $35 each, the banks reap huge profits. According to one media report, overdraft fee revenue reached an all-time high of $37.1 billion in 2009, and in 2011 alone, banks reported $29.5 billion in profits from overdraft charges.

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Incapsula Teams PCI Compliance and Security Service

Incapsula cloud-based website security and performance service provider announced that the service is now available through PCI Compliance and other managed security service providers to help SMBs and online merchants comply with PCI DSS requirement 6.6. ControlScan PCI compliance and security services, began offering the ProTect Web Application Firewall service to improve the security of websites and applications, while increasing their performance.

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Ceridian Webinar Highlights Paycards Employee Benefits

Ceridian Corporation software and solutions, announced the availability of early registration for its free webinar, Paycards: The Employee Perspective. Some employers are still reluctant or hesitant to offer paycards to their employees. These employers are either unfamiliar with the inherent employee benefits of paycards or they don’t believe their employees will appreciate the option. Paycards offer mmediate access to pay 24/7; ATM withdrawals; access to online purchases; and personal money management and monitoring.

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Citi Provides Administration Services for Credit Suisse

Citi agreed with Credit Suisse’s Asset Management division to provide a comprehensive suite of middle office, custody and hedge fund administration services to support a portion of its US-based Alternative Investments business. Citi will provide custody and back office support for Credit Suisse Asset Management’s proprietary hedge funds. Citi can assist managers in extending and enhancing their operational capabilities so they can refocus resources on core asset management functions. Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture.

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OAISYS and DMG Announce Contact Centers PCI DSS White Paper

OAISYS published its “Payment Card Industry Data Security Standards (PCI-DSS) Guide for Contact Center Managers,” in conjunction with DMG Consulting LLC. It offers an overview of PCI policies governing financial transactions using credit and debit cards around the world, how it applies to contact centers and the “dos” and “don’ts” of data storage. The white paper ultimately offers an introduction to PCI-DSS; its legal force and status; and standards for protecting cardholder data.

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CorreLog to Engage in PCI DSS Compliance Address

CorreLog will participate in exhibitor sponsorship at SHARE Atlanta, March 11-16. Featuring deep-dive discussions into the latest IT industry security developments and feature engaging networking opportunities for attendees and highlight governmental compliance requirements specific to mainframe environments that are related to the PCI DSS. CorreLog will also highlight a customer use case for enterprise security across a complex, heterogeneous IT environment consisting of z/OS, UNIX, Linux and Windows devices that pass industry compliance standards such as PCI DSS, HIPAA, SOX, FISMA, and NERC.

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Mobey Forum Defines mWallet Control Points

Mobey Forum has released its ‘Control Points in mWallets’ white, offering analyses on the rollout of the mobile wallet and how it will be dictated by the various stakeholders involved in its development and deployment. This is the second in a series of mobile wallet white papers from Mobey Forum, the global bank-led industry association driving a prosperous mobile financial services ecosystem, which aims to provide the industry with a new level of thinking on what is required of stakeholders to facilitate widespread adoption of the mobile wallet.

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Retailers Increasingly Turn to eCommerce

According to Retail Systems Research (RSR) “eCommerce 2012: Back to the Future” study, retailers increasingly rely on their eCommerce platforms. The 94 retailers surveyed in this benchmark report that they are investing in content management and product-level social media integration, and delaying investments in in-store platforms like point of sale as they evaluate potential in-store uses for their eCommerce platforms. Top challenges to this include understanding how different customer segments engage online and difficulty coordinating with other channels to create a seamless cross-channel experience.

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MasterCard Opens Global Technologies Office

MasterCard Worldwide opened its global office for the company’s technology operations, as supported by IDA Ireland. With this, it will create an additional 130 highly skilled jobs during the next four years to the current 70 in the region. Areas of focus for the new operations include MasterCard Labs; the Center of Excellence for Java Development; and MasterCard’s “inControl” platform team.

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Credit Card Interest Average Continues Free Fall

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After peaking at well over 15% following the holiday shopping season, credit card interest rates have plummeted back to averages not seen since August. Now standing at 14.91%, averages have seen a .22% drop over the past month. And if history is any indication, This drop will continue through the winter…

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FIS Posts 4Q/11 Revenue Up 7%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] FIS banking and payments technology posted its 4Q/11 revenue from continuing operations up 7.0% from the year ago figure of $1.4 billion to now sit at $1.5 billion. With this, the Financial Solutions segment revenue was up 5.9% to $533.4 million compared to $503.5 million in the 2010 quarter thanks in…

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