Debit card fraud rise in California created enough concern among credit unions that at least one took the unprecedented step of blocking cards used at 7-Eleven and Wells Fargo terminals.
"Keeping our members' accounts safe is always our top priority, so when we receive credible reports of fraud or other possible threats, we act immediately to contain those risks," Paris Chevalier, chief marketing officer for the $933 million El Segundo, Calif.-based Xceed Financial Credit Union said. "With the situation in California, the block we put in place on Nov. 17 was for ATMs located primarily in 7-Eleven stores in California."
Chevalier explained a couple of days later, Xceed received additional reports of fraud, so on Nov. 19 the credit union let members know it had blocked ATM/debit card usage at Wells Fargo ATMs in California as well.
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