Obama Urges Credit Card Reform | 44 | washingtonpost.com

Obama has urged Congress to pass legislation that would do away with some of the most aggressive fees, penalties and interest rates levied by the credit card companies on their cardholders.

Obama Urges Credit Card Reform | 44 | washingtonpost.com

Banks scrambling to get grip on card risks - FierceFinance

As the recession rolls on, many think the credit card market will be the next to implode. Banks are certainly scrambling to a get a grip on their risks. Reuters notes that the likes of Citigroup, JPMorgan Chase and others are cutting rewards, hiking interest rates and raising fees. All in the face of mounting losses and lots of nervousness.

Banks scrambling to get grip on card risks - FierceFinance

E-Commerce News: Internet Fraud: The Flourishing Fraud Economy

One reason is that the prices for some records have been falling for years and can't go much lower. Stolen credit card numbers now go for as little as 6 US cents each, if they're bought 10,000 at a time. The price can be $30 per card for smaller orders.

Access to hijacked e-mail accounts: 10 cents to $100.

Bank account credentials: $10 to $1,000.

Scammers can hire people to "cash out" compromised bank accounts for between 8 percent and 50 percent of the amount they're stealing. Hosting for scam Web sites ranges from $3 to $40 per week.

E-Commerce News: Internet Fraud: The Flourishing Fraud Economy

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