Payments/Credit/Debit

Rene Palomino, the lawyer for accused computer hacker Albert Gonzalez, argued in a recent interview with ComputerWorld magazine that Gonzalez is more addicted to computers than he is to crime.

A study by FICO, the company responsible for the widely used FICO credit scores, revealed that consumers' credit scores have been only minimally impacted by the recent, widespread cut in consumer credit lines.

Credit cards continued to be solid assets for credit unions in the second quarter of 2009 and about three credit unions sold their credit card portfolios to agent bank issuers, according to an analysis of NCUA data.

Prosecuting Albert Gonzalez, the young and brilliant computer hacker that authorities have alleged was behind many of the major card breaches in the last two years, is bringing up a number of challenges for prosecuting these sort of cases.

PSCU Financial Services said it will continue with its plans to offer its CardLock service despite the claims of a U.K. firm that it holds the patent on the technology.

The provisions of the new law and regulations on consumer credit are summarized in a regulatory alert issued by the NCUA.