Payments/Credit/Debit

CHICAGO -- The Illinois Attorney General has alleged that seven individuals working at a Wal-Mart in Crestwood Illinois have been involved in fraudulent card scheme involving stealing credit card numbers and then encoding them onto gift cards.

WASHINGTON - Credit unions wanting to get back into the credit card market can consult a series of educational webcasts sponsored by CMC and NAFCU Services.

ARLINGTON, Va. -- Executives with card processors, CUSOs and card consultancies are generally upbeat about the prospects for CU card programs in 2009, despite the troubled economic picture.

SYDNEY, Australia -- Police in the Australian state of New South Wales are forming a task force with financial firms and retailers to combat an epidemic of attempts to steal money from ATMs by blowing them up, according to press reports.

WASHINGTON -- A card issuer that marketed Visa and MasterCards specifically to the subprime market will have to reverse more than $114 million it charged cardholders in fees, as part of a settlement reached with the Federal Trade Commission.

NEW YORK -- Visa USA has announced the repurchase of over $1 billion worth of its class B shares, currently held by credit unions and banks which issue Visa, to fund an additional deposit into an escrow account set aside to cover legal expenses.