Take Credit: Avoid Debit Card Dangers this Holiday

AARP Fraud Watch Network warns holiday shoppers of debit card risks The 2013 Target data breach was the nightmare before Christmas for many holiday shoppers and Target store customers. Millions of debit card accounts were hacked, as fraudsters stole customer names, card numbers and even personal phone numbers and email addresses. While both debit and credit cards can become victim to fraud, credit cards offer greater consumer protections that debit cards lack. If a credit card is lost or stolen, the …

Payday Lender Ordered to Pay $10 Million Over Collection Practices

Ace Cash Express, one of the nation’s largest payday lenders, has agreed to pay a $10 million settlement over its collection practices. The Consumer Financial Protection Bureau said that Ace, based in Irving, Tex., must refund $5 million to customers who fell victim to such practices from March 2011 to September 2012; it must also pay a $5 million civil penalty. Payday loans are taken out by people who need quick cash between paychecks. Companies such as Ace Cash Express have been known …