Debit-card thefts at ATMs located on bank properties surged 174 percent from Jan. 1 to April 9, compared with the same period last year. Meanwhile, attacks against nonbank machines soared by 317 percent.
Bank of America and JPMorgan Chase, two of the nation’s biggest lenders, will update credit reports of more than a million Americans to remove debts that had been eliminated in bankruptcy.
JPMorgan CEO Jamie Dimon warned investors and those in the banking industry of the growing competition out of Silicon Valley, including digital currencies and nonbank firms that can quickly lend to individuals and small businesses.
The switch to the more advanced “chip & signature” system isn’t advanced enough to thwart cyberthieves, said Mike Cook, Walmart’s assistant treasurer and a senior vice president.
The overseer of a settlement with JPMorgan Chase said Thursday that he has credited the nation’s largest bank with $2.2 billion out of the $4 billion it is required to provide consumers, mainly in the form of mortgage relief, by 2017.
More than half (52 percent) do not know that paying bills on time is the factor that has the largest impact on their credit score, according to according to the new Chase Slate Credit Survey.
It was just a brief mention in the filing, but the investigation involves serious charges that race and ethnicity allegedly played a part in the loan markups.
Chase and Bank of America will start providing FICO scores to some of their customers for free this year. Ally Financial, one of the largest issuers of auto loans, will also begin offering FICO scores to all of its car-loan customers.
This means the biggest U.S. bank is lending less based on this widely-recognized measure.
Chase has started sending letters to Chase Freedom and Slate customers, explaining that their new cards “will have an embedded Chip and Signature feature for added security and wider acceptance outside the United States.”