If you ever bought anything from Target with a credit card it's time to panic!
http://www.nbcnews.com/business/40-million-credit-debit-card-accounts-may-be-hit-data-2D11775203
Quote40 million credit, debit card accounts may be hit by data breach, Target says
Alastair Jamieson NBC News
26 minutes ago
Approximately 40 million credit and debit card accounts may be at risk from a major data breach affecting customers at Target stores across the U.S., the retailer said Thursday.
Customer names, credit or debit card numbers are involved in the breach - along with the expiration date and three-digit CVV security code of each card, the store said.
The company said in a statement that it was "aware of unauthorized access to payment card data that may have impacted certain guests making credit and debit card purchases" between Nov. 27 and Dec. 15 - the height of the Thanksgiving and Christmas holiday shopping period.
It is one of the largest ever breaches of consumer information, echoing the 2007 theft of data from at least 45.7 million credit and debit cards of shoppers at retailers including T.J. Maxx and Marshalls.
"Target alerted authorities and financial institutions immediately after it was made aware of the unauthorized access, and is putting all appropriate resources
I wonder why they retain that data anyways?
NSA strikes again. They need credit card records of all those people in case of a future investigation. :ph34r:
Quote from: Neil on December 19, 2013, 09:08:25 AM
I wonder why they retain that data anyways?
I imagine they have to keep records of transactions for a certain amount of time in case fraud allegations.
Work is going to be fun today.
Quote from: jimmy olsen on December 19, 2013, 06:58:11 AM
If you ever bought anything from Target with a credit card it's time to panic!
:o
QuoteThe company said in a statement that it was "aware of unauthorized access to payment card data that may have impacted certain guests making credit and debit card purchases" between Nov. 27 and Dec. 15 - the height of the Thanksgiving and Christmas holiday shopping period.
Phew.
Panic? Really Timmay?
No, not really. Guess I should have added a smile at the end of that.
I added one for you. :P
Damn, that's an insanely high number! :o
http://www.nbcnews.com/technology/worst-breach-history-puts-data-security-pressure-retail-industry-2D11898690
QuoteThe Target security breach that may have affected as many as 110 million customers — with their names, mailing addresses, phone numbers and credit card information possibly swiped — ranks as the most extensive corporate data hack ever, experts said on Friday.
"This is the worst breach in history," Ken Stasiak, CEO of SecureState, told NBC News. "It's 2014. We expect retailers of this magnitude to have better security, weigh their risks and spend the resources necessary to secure their data."
Yet without a massive shift towards a credit card technology called EMV that stores data on a chip instead of a magnetic strip, it's likely that data breaches of this size and scale will continue to plague the retail industry, Chester Wisniewski, senior security adviser at Sophos, told NBC News.
Some holiday shoppers had earlier cut up their cards after Target announced on Dec. 19 that some 40 million accounts had been put at risk by a hack that stretched from before Black Friday through mid-December. When the company announced on Friday that 70 million or more people may have been affected, however, the breach soared past prior incidents like the 2007 theft of 45 million credit card numbers from the parent company of TJMaxx and Marshall's.
Seven years ago, however, these kind of massive hacks were relatively new. The third-largest retailer in the United States should have been more prepared by now, Stasiak said.
"For the sheer volume of data stolen over time, this is new world-record territory for sure," Chris Camejo, director of assessment services for NTT Com Security, told NBC News.
Malware attacks that target a company's point of sale system are becoming more common, Stasiak said, and such a high-profile case could convince other retailers to up their security. There is also the possibility that the U.S. government steps in and imposes its own payment security standards, which today are set entirely by retailers. More small businesses – where the majority of credit card breaches occur – could also commit to payment card industry (PCI) standards that require data encryption, firewalls and other measures.
But stricter standards probably wouldn't prevent massive breaches at big retailers, Wisniewski said, because they usually already have strong security protections in place. (No experts, however, could comment specifically on Target's preparedness for the attack, because the company hasn't shared many details about its privately built payments system).
Due to the degree of difficulty involved, these headline-grabbing hacks are usually custom jobs, Wisniewski said, meaning there are few security solutions that can be applied across the entire industry.
According to Wisniewski, there is only one move that would put an end to these breaches: adopting EMV standards. That means using credit and debit cards that use an encrypted chip instead of a magnetic stripe for more secure transactions. In Australia, similar measures cut the number of fraudulent credit card charges by 29 percent in 2013, according to a report from the Australia Payments Clearing Association.
The U.S. government wants retailers to start making the switch by 2015, but adoption of EMV standards means replacing nearly every payment card terminal in the United States. Smaller merchants are reluctant to foot the bill, Wisniewski said, while banks don't want to issue new EMV cards until it becomes the retail standard.
Still, it's the only thing that would really make a difference, he said.
"With EMV, in other parts of the world, we have never seen more than one credit card compromised at a time, as opposed to 40 million in one go," he said. "It changes the game."
Of course, that won't provide much comfort to Target customers who already had their information stolen. It is unlikely that both data sets stolen from Target were combined and sold together on the black markets that digital thieves prefer, said James Wester, research director of IDC Financial Insights. That is because hackers want to "sell the data as quickly as possible to make a buck," he said.
There might be some silver lining to the massive hack. According to Camejo, experts in the security industry see the sophistication of this latest attack as a sign that criminals are getting desperate.
"Security has been improving, which is why hackers have been resorting to new and novel techniques to steal data," he said. "So we're getting better, but it's still a cat-and-mouse game."
Multiple experts said consumers aren't more at risk now than they were before — they are probably just more aware of the danger, thanks to the high profile of Target. That could make for savvier shoppers.
"With every data breach that occurs, another avenue for data to be compromised is closed off," Wester said, although he cautioned that the arms race between retailers and criminals will probably never end. "As long as there is payment data that can be stolen, there will be hackers who will try to find a way in."
Quote"This is the worst breach in history," Ken Stasiak, CEO of SecureState, told NBC News. "It's 2014. We expect retailers of this magnitude to have better security, weigh their risks and spend the resources necessary to secure their data."
No we don't.
Yeah, why would we expect them to have decent security? It's not their credit card info.
Quote from: alfred russel on January 11, 2014, 10:12:34 AM
Quote"This is the worst breach in history," Ken Stasiak, CEO of SecureState, told NBC News. "It's 2014. We expect retailers of this magnitude to have better security, weigh their risks and spend the resources necessary to secure their data."
No we don't.
Not when dealing with heavily-standardized POS equipment, nope. Servicing and deploying this stuff is a huge part of my job, and it's laughable how companies will bolt in standard registers and pin pads without ever adding additional security on top of the default stuff.
99% of their register security is simply designing the UI so a cashier can't access an Internet browser during normal usage. All it takes is one hyperlink in a company intranet email to get around that.
[upsidedownexclamationmark]Ay, Dios mio!
QuoteTwo arrested in connection with Target hack
Police say the pair, stopped at the U.S.-Mexico border, were carrying 90 fraudulent credit and debit cards
Authorities investigating the massive holiday-season hack into Target Corp.'s systems arrested two Mexicans trying to enter the U.S. in McAllen, Texas, with scores of fraudulent credit cards.
The arrests of Daniel Dominguez Guardiola and Mary Carmen Vaquera Garcia may indicate that stolen information from as many as 110 million Target customers is making its way through U.S. stores through small groups of shoppers with fraudulent cards.
Customs and Border Protection officers detained Guardiola, 28, and Garcia, 27, before turning them over to local authorities, McAllen Police Lt. Joel Morales said. Police had outstanding arrest warrants for Guardiola and Garcia alleging credit- and debit-card fraud.
The pair, both from Monterrey, Mexico, were found carrying 90 fraudulent payment cards, Morales said, and authorities eventually seized 22 more.
Morales said the connection to the Target hacking came from the U.S. Secret Service; U.S. Immigration and Customs Enforcement, or ICE; and banking institutions making cleanup efforts after the hack.
Target said last month that up to 40 million customers' credit and debit card accounts used for purchases at its stores nationwide were illegally accessed by cybercriminals from Nov. 27 to Dec. 15.
The Minneapolis company later said that hackers also may have taken the names and the home and email addresses of as many as 70 million in-store and online shoppers.
On Monday, Target spokeswoman Molly Snyder said the investigation is "active and ongoing" and referred questions about the McAllen arrests to local law enforcement.
McAllen police began receiving reports of fraudulent credit card use from local retailers last week, Morales said. Police launched an investigation, teaming up with ICE and the Secret Service.
Morales said federal law enforcement agencies are expected to file more charges against Garcia and Guardiola "in the near future." He said it was "too early" to say whether authorities are looking for more suspects.
Garcia and Guardiola are in a McAllen police holding cell and will be arraigned by Tuesday, Morales said.
Longtime security analyst Bruce Schneier said the arrests played out in a familiar way.
"It's not that we find criminals like this through cyber-forensics. We get them in the real world when they do something stupid," said Schneier, chief technology officer at cybersecurity firm Co3 Systems. "It's invariably how it works: Getting credit cards is easy. Turning it into cash is hard."
Schneier acknowledged, however, that the criminals who carried out the initial breach may not be the same ones who end up using the stolen data. Often, payment card account information is sold on the black market and used to make illegal purchases, he said.
Target is being sued by more than a dozen customers over the breach, as well as by a Seattle law firm accusing the retailer of ignoring earlier warnings about flaws in its protective systems.
Separately, Putnam Bank in Connecticut filed a federal complaint against Target alleging that the hack has resulted in "significant losses" for the bank as it reissues payment cards and reimburses customers for fraud-related losses.
"In a lot of ways, credit card fraud is irrelevant to most people because credit card companies are so efficient on making good on any damages," Schneier said.
The Target attack now appears to rank as the nation's biggest cybercrime against a single retailer. The 110 million potential victims could represent more than a third of the U.S. population.
"We're at a scale that has probably never been seen before," said Scott Mitic, senior vice president at consumer credit rating firm Equifax, said this month. "This is going to be a case study that people will talk about for another decade."
The two batches of data were stolen simultaneously but affected different sets of data and customers.
Target disclosed the theft of the first batch Dec. 19, saying cyberthieves lifted primarily financial information from people who shopped at its stores and used credit or debit cards Nov. 27 to Dec. 15. The information stolen included customer names, card numbers and a security code encrypted in cards' magnetic strips.
The second batch, disclosed Jan. 10, encompassed largely personal information such as names, addresses, phone numbers and email addresses from shoppers online or in a store over an indeterminate amount of time.
Matching personal and financial details from the two batches, experts said, could clear a path for the culprits to make fraudulent purchases, siphon money from bank accounts or steal victims' identities.
Target has promised to offer affected customers free credit monitoring and identity theft protection for one year.
Last week, cyber-intelligence firm ISight Partners said a new piece of malicious software known as Kaptoxa has "potentially infected a large number of retail information systems." The company said it was working with the U.S. Secret Service when it made the discovery.
Neiman Marcus Group said this month that its customers' credit and debit card information also was stolen, although Social Security numbers and birth dates seemed to be safe.
The upscale retailer said that online shoppers weren't affected and that it had "no knowledge of any connection" to the Target breach.
With Otto and the Secret Squirrels on the case, I expect results to result.
US credit card issuers need to catch up with the newer technology. Yeah it's expensive but how much is the Target theft, plus the many others that occur daily, cost the credit card companies and retailers?
Quote
http://abcnews.go.com/blogs/business/2014/01/new-demands-for-smart-chip-credit-cards/
Will the massive security breach at Target lead to new chip technology and pin numbers for U.S. credit cards? Target CEO Gregg Steinhafel wants banks and retailers to approve changes.
In Europe and Canada cards already have smart chips installed and readers are used at retailers and restaurants, making it harder for thieves to profit from the sort of massive data breach that hit Target during the holiday shopping season.
The attack led to the theft of tens of millions of credit card numbers. Hackers appear to have stolen many phone numbers and e-mail addresses.
Despite previous calls to update U.S. cards, retailers and banks have feuded for years over card-swipe fees and the cost of making security upgrades.
"Computer networks are vital to American capitalism and society, but they remain surprisingly vulnerable to thieves and hijackers," says an editorial in today's Washington Post. The newspaper, owned by Amazon CEO Jeff Bezos, says "Congress must now get serious about cybersecurity. The private sector has much at stake but may not be able to cope on its own."
A South Texas police chief says two Mexican citizens who were arrested at the border used account information stolen during the Target security breach to buy tens of thousands of dollars' worth of merchandise. But a federal official said later there currently was no connection between the arrests and the retailer's credit card data theft.
Asked about the arrests, a Target spokeswoman said the investigation was active and ongoing. McAllen Police Chief Victor Rodriguez says the pair had used fraudulent cards containing the account information of South Texas residents to make purchases at Best Buy, Wal-Mart and Toys R Us. McAllen police began working with the Secret Service after a number of area retailers were hit with fraudulent purchases last week.
Yahoo is still America's most visited website, according to numbers from comscore.com. The report comes as Yahoo struggles to increase advertising growth. Google's search engine, AOL and Faceback all lagged behind Yahoo.
It's back to work for traders on Wall Street after the long holiday weekend. There are a slew of earnings reports due out today. Stock futures rose this morning after overnight gains on Asian markets. China's central bank pumped more credit into the system after concerns about slowing growth in the world's second largest economy.
Business is bad for Sochi games. With less than three weeks to go until the opening ceremony at the Winter Olympics, hundreds of thousands of tickets remain unsold, raising the prospect of empty seats. There are signs that many foreign fans are staying away, turned off by terrorist threats, expensive flights and hotels, long travel distances, a shortage of tourist attractions in the area, and the hassle of obtaining visas and spectator passes.
"Some people are scared it costs too much and other people are scared because of security," senior International
Olympic Committee member Gerhard Heiberg of Norway told The Associated Press. Sochi organizers announced last week that 70 percent of tickets have been sold for the games, which run from February 7-23. But it's not clear whether the remaining 30 percent of seats will be filled.
I feel like it's only a matter of time before we realize that information security is serious business, and individual actors cannot be relied to consistently provide it, either out of incompetence or out of greed. This is a problem that requires centralization and standardization to solve. It also requires people to not have a fucked up attitude about the government, so of course it won't fly, and all sorts of organized and unorganized hackers will continue accessing private information as it it were publicly available.
Quote from: KRonn on January 21, 2014, 09:25:16 AM
US credit card issuers need to catch up with the newer technology. Yeah it's expensive but how much is the Target theft, plus the many others that occur daily, cost the credit card companies and retailers?
Quote
http://abcnews.go.com/blogs/business/2014/01/new-demands-for-smart-chip-credit-cards/
Will the massive security breach at Target lead to new chip technology and pin numbers for U.S. credit cards? Target CEO Gregg Steinhafel wants banks and retailers to approve changes.
In Europe and Canada cards already have smart chips installed and readers are used at retailers and restaurants, making it harder for thieves to profit from the sort of massive data breach that hit Target during the holiday shopping season.
The attack led to the theft of tens of millions of credit card numbers. Hackers appear to have stolen many phone numbers and e-mail addresses.
Despite previous calls to update U.S. cards, retailers and banks have feuded for years over card-swipe fees and the cost of making security upgrades.
"Computer networks are vital to American capitalism and society, but they remain surprisingly vulnerable to thieves and hijackers," says an editorial in today's Washington Post. The newspaper, owned by Amazon CEO Jeff Bezos, says "Congress must now get serious about cybersecurity. The private sector has much at stake but may not be able to cope on its own."
A South Texas police chief says two Mexican citizens who were arrested at the border used account information stolen during the Target security breach to buy tens of thousands of dollars' worth of merchandise. But a federal official said later there currently was no connection between the arrests and the retailer's credit card data theft.
Asked about the arrests, a Target spokeswoman said the investigation was active and ongoing. McAllen Police Chief Victor Rodriguez says the pair had used fraudulent cards containing the account information of South Texas residents to make purchases at Best Buy, Wal-Mart and Toys R Us. McAllen police began working with the Secret Service after a number of area retailers were hit with fraudulent purchases last week.
Yahoo is still America's most visited website, according to numbers from comscore.com. The report comes as Yahoo struggles to increase advertising growth. Google's search engine, AOL and Faceback all lagged behind Yahoo.
It's back to work for traders on Wall Street after the long holiday weekend. There are a slew of earnings reports due out today. Stock futures rose this morning after overnight gains on Asian markets. China's central bank pumped more credit into the system after concerns about slowing growth in the world's second largest economy.
Business is bad for Sochi games. With less than three weeks to go until the opening ceremony at the Winter Olympics, hundreds of thousands of tickets remain unsold, raising the prospect of empty seats. There are signs that many foreign fans are staying away, turned off by terrorist threats, expensive flights and hotels, long travel distances, a shortage of tourist attractions in the area, and the hassle of obtaining visas and spectator passes.
"Some people are scared it costs too much and other people are scared because of security," senior International
Olympic Committee member Gerhard Heiberg of Norway told The Associated Press. Sochi organizers announced last week that 70 percent of tickets have been sold for the games, which run from February 7-23. But it's not clear whether the remaining 30 percent of seats will be filled.
Er, chipped cards are not exactly new. In fact, the major convenience store chain around here, Wawa, just got
rid of all of their NFC card terminals. They're actually even more of a security risk because contactless cards could lead to contactless pickpocketing. Unless you stick your card in a Faraday sleeve, but good luck finding a producer, since the only difference between protecting your card and making a booster bag would be size.
Quote from: KRonn on January 21, 2014, 09:25:16 AM
US credit card issuers need to catch up with the newer technology. Yeah it's expensive but how much is the Target theft, plus the many others that occur daily, cost the credit card companies and retailers?
I doubt it costs them much at all, other than PR value.
Quoten Europe and Canada cards already have smart chips installed and readers are used at retailers and restaurants, making it harder for thieves to profit from the sort of massive data breach that hit Target during the holiday shopping season.
Wrong. RFI technology is just as easy to snatch, if not easier, than from point-of-sale hard swiping.
Quote"Computer networks are vital to American capitalism and society, but they remain surprisingly vulnerable to thieves and hijackers," says an editorial in today's Washington Post. The newspaper, owned by Amazon CEO Jeff Bezos, says "Congress must now get serious about cybersecurity. The private sector has much at stake but may not be able to cope on its own."
It isn't ttat the private sector is unable to cope on its own, it's simply unwilling to do it.
Security is not a revenue-generating aspect of companies, provides no real ROI number for MBA types to fap over during the quarterly spreadsheets, and does not increase shareholder value.
And if Amazon was truly serious about security, they'd have fucking hired me by now. <_<
Quote from: DontSayBanana on January 21, 2014, 10:18:29 AM
They're actually even more of a security risk because contactless cards could lead to contactless pickpocketing.
Yup. Some cards can project a RF field as far out as 10 feet away.
Quote from: CountDeMoney on January 21, 2014, 10:38:52 AM
Quote from: DontSayBanana on January 21, 2014, 10:18:29 AM
They're actually even more of a security risk because contactless cards could lead to contactless pickpocketing.
Yup. Some cards can project a RF field as far out as 10 feet away.
I wonder why then that technology is being touted as the latest and greatest? :hmm: Seems just as many issues with it, and maybe worse since a card can be stolen without hacking into anything.
It's being touted as the latest and greatest only because of the convenience of use, s'all.
QuoteTarget Knew About Credit Card Hack For 12 Days Before Reacting
Posted 7 hours ago by John Biggs @ TechCrunch
(https://languish.org/forums/proxy.php?request=http%3A%2F%2Ftctechcrunch2011.files.wordpress.com%2F2014%2F03%2F13405c31cdb42e9817c804a2d9844502e45bc7cbcff771ad9315d6f9592cc47a.jpg%3Fw%3D305&hash=260fed6fd3680815f446591fd6912351b5c397cc)
In a scathing bit of reportage from Bloomberg Businessweek we discover that retailer Target had received word that its security system had been compromised nearly two weeks before it moved to act on the information.
In fact, last year Target hired FireEye, a security firm, to watch their servers for malware. The firm, which has a Bangalore-based response team, informed Target HQ in Minneapolis that someone had hacked the company on November 30. And no one did anything about it.
In short, according to Bloomberg, "for some reason, Minneapolis didn't react to the sirens."
The piece, as a whole, is delightfully detailed. It describes Target's security system as well as FireEye's "honeypot" servers that fooled attackers into thinking they had dropped into running servers but instead let them fool around in a sandboxed environment while FireEye watched. Then things got a little hairy.
The breach could have been stopped there without human intervention. The system has an option to automatically delete malware as it's detected. But according to two people who audited FireEye's performance after the breach, Target's security team turned that function off. Edward Kiledjian, chief information security officer for Bombardier Aerospace, an aircraft maker that has used FireEye for more than a year, says that's not unusual. "Typically, as a security team, you want to have that last decision point of 'what do I do,' " he says. But, he warns, that puts pressure on a team to quickly find and neutralize the infected computers.
What this points to, in the end, is inaction on the part of Target and a clear effort by FireEye to shore up its reputation. If Target couldn't be bothered to delete the malware, this piece suggests it's not FireEye's fault. While it never devolves into throwing anyone under the bus, it's clear Target's CIO Beth Jacob, who resigned last week, bore the brunt of the blame.
It just goes to show you that the best laid plans of mice and men gang aft agley.
QuoteMissed Alarms and 40 Million Stolen Credit Card Numbers: How Target Blew It
By Michael Riley, Ben Elgin, Dune Lawrence, and Carol Matlack March 13, 2014
The biggest retail hack in U.S. history wasn't particularly inventive, nor did it appear destined for success. In the days prior to Thanksgiving 2013, someone installed malware in Target's (TGT) security and payments system designed to steal every credit card used at the company's 1,797 U.S. stores. At the critical moment—when the Christmas gifts had been scanned and bagged and the cashier asked for a swipe—the malware would step in, capture the shopper's credit card number, and store it on a Target server commandeered by the hackers.
It's a measure of how common these crimes have become, and how conventional the hackers' approach in this case, that Target was prepared for such an attack. Six months earlier the company began installing a $1.6 million malware detection tool made by the computer security firm FireEye (FEYE), whose customers also include the CIA and the Pentagon. Target had a team of security specialists in Bangalore to monitor its computers around the clock. If Bangalore noticed anything suspicious, Target's security operations center in Minneapolis would be notified.
On Saturday, Nov. 30, the hackers had set their traps and had just one thing to do before starting the attack: plan the data's escape route. As they uploaded exfiltration malware to move stolen credit card numbers—first to staging points spread around the U.S. to cover their tracks, then into their computers in Russia—FireEye spotted them. Bangalore got an alert and flagged the security team in Minneapolis. And then ...
Nothing happened.
http://www.businessweek.com/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data#p1
Quote from: CountDeMoney on January 21, 2014, 10:36:11 AM
Quote from: KRonn on January 21, 2014, 09:25:16 AM
US credit card issuers need to catch up with the newer technology. Yeah it's expensive but how much is the Target theft, plus the many others that occur daily, cost the credit card companies and retailers?
I doubt it costs them much at all, other than PR value.
:lol: I know many banks that took a beating in fraud related to the breach, not to mention the cost of reissuing all those cards.
Quote from: derspiess on March 13, 2014, 08:49:10 PM
Quote from: CountDeMoney on January 21, 2014, 10:36:11 AM
Quote from: KRonn on January 21, 2014, 09:25:16 AM
US credit card issuers need to catch up with the newer technology. Yeah it's expensive but how much is the Target theft, plus the many others that occur daily, cost the credit card companies and retailers?
I doubt it costs them much at all, other than PR value.
:lol: I know many banks that took a beating in fraud related to the breach, not to mention the cost of reissuing all those cards.
That's why they charge those nifty little service fees, and the minimum account balance fees that make Yi cream his shorts over. They're not sweating it.
:yawn:
Quote from: CountDeMoney on March 13, 2014, 08:50:54 PM
That's why they charge those nifty little service fees, and the minimum account balance fees that make Yi cream his shorts over. They're not sweating it.
No. They're charging those fees because of that amazing Frank-Dodd legislation limited their interchange revenue. They're losing money on this breach, big time. But hey, you're the industry insider here.
Quote from: derspiess on March 13, 2014, 08:54:01 PM
No. They're charging those fees because of that amazing Frank-Dodd legislation limited their interchange revenue. They're losing money on this breach, big time. But hey, you're the industry insider here.
Oh, I'm pretty sure we were getting charged those fees long before Frank-Dodd threatened the financial fabric of America.
Quote from: CountDeMoney on March 13, 2014, 09:06:16 PM
Quote from: derspiess on March 13, 2014, 08:54:01 PM
No. They're charging those fees because of that amazing Frank-Dodd legislation limited their interchange revenue. They're losing money on this breach, big time. But hey, you're the industry insider here.
Oh, I'm pretty sure we were getting charged those fees long before Frank-Dodd threatened the financial fabric of America.
Not me. But if happened to you, then you chose the wrong bank.
Quote from: derspiess on March 13, 2014, 09:09:57 PM
Quote from: CountDeMoney on March 13, 2014, 09:06:16 PM
Quote from: derspiess on March 13, 2014, 08:54:01 PM
No. They're charging those fees because of that amazing Frank-Dodd legislation limited their interchange revenue. They're losing money on this breach, big time. But hey, you're the industry insider here.
Oh, I'm pretty sure we were getting charged those fees long before Frank-Dodd threatened the financial fabric of America.
Not me. But if happened to you, then you chose the wrong bank.
Don't let ideology get in the way of the history of banking fees dating to the 1970s or anything, dersurcharge.