FRAUDULENT EMAILS CLAIMING TO BE FROM NACHA

NACHA Electronic Payments Association has announced and wants professionals aware of fraudulent emails bearing the Association’s name. Reportedly, companies continue to receive fraudulent emails appearing to be sent from NACHA. These emails vary in content and appear to be transmitted from email addresses associated with the NACHA domain (@nacha.org). Some bear the name of fictitious NACHA employees and/or departments. NACHA itself does not process nor touch the ACH transactions that flow to and from organizations and financial institutions and wants it known it does not send communications to persons or organizations about individual ACH transactions that they originate or receive.

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PenFed Announces 4.99% APR Credit Card Balance Transfers

Pentagon Federal Credit Union (PenFed) announced that for a limited-time only, they are currently running a 4.99% APR credit card balance transfer offer that waives the balance transfer fee and secures the 4.99% APR for the life of the balance. PenFed is extending this offer to include PenFed’s “Best in Class” Platinum Cash Rewards Card, Promise Card, and Premium Travel American Express® Card. PenFed is the third largest credit union in the United States with over a million members, and more than $15 billion in assets.

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Expert Group Expects Over 60 Deployments in 2Q/11

Expert Group 1Q/11 ATM placement deployment progress indicates fully implemented Expert ATMs are generating an average of $3.75 per-Transaction, ultimately generating annual gross revenues of $13, 500.00 or $1,350,000.00 for every 100 ATM. Expert Group 1Q saw ATM-AP installations in more than 20 locations and has already been used by thousands of clients. Within the next 6 months the Company announced it projects to have over 100 ATMS and within 12 months we project over 1 million Transactions. The company has entered into agreements for more than 30 installations during the first quarter, a figure expected to double by the close of next quarter.

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Bell ATM launches new website

CO-based Bell ATM Service has redesigned its website for ordering parts and requesting ATM-component repairs online. Found at BellATM.com, the website incorporates new navigational tools that provide customers with a comprehensive list of more than 1,000 new and refurbished ATM parts and repairs offered by Bell ATM and allows users to navigate the website with drop-down menus that categorize products by manufacturer, model number and product type. The website also features tech support, and it provides online customers with a list of ATMs Bell supports.

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Columbia Ultimate Now PCI 2.0 Compliant

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Columbia Ultimate technology and integrated solutions for the collections industry is now PCI DSS v2.0 compliant. In order to become PCI DSS compliant, the Company adhered to the PCI DSS standard in their processes, procedures and use of systems to adequately protect credit card data. Columbia Ultimate is an expert in…

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Signature Bank Names Private Client Banking Teams

NY-based Signature Bank appointed two private client banking teams led by Nelli Teplinsky as Group Director, SVP, and Natalie Leviev, Senior Client Associate. Both appointees join from HSBC, where Teplinsky was VP, Senior Premier Relationship Manager for 10 years as part of her 20 years’ experience in the industry. Leviev, meanwhile, spent four years with HSBC, most recently as a Premier Client Officer. The Bank also made appointments to improve its Group Director and Senior VP roles, all also from HSBC.

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Cabela’s Completes Variable Funding Facility With BofA

Cabela’s Incorporated announced that its wholly owned subsidiary, World’s Foremost Bank, has entered into a $352.9 million commitment with Bank of America. Under an outstanding series of variable funding notes issued by Cabela’s Credit Card Master Note Trust, the three year commitment will provide Cabela’s CLUB Visa program members added network benefits. Adding Bank of America as a liquidity provider on the Cabela CLUB Visa program additionally allows for further spread of liquidity risks.

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Avidbank Appoints New Board Member

Avidbank announced that David V. Campbell has joined its Board. A founder and board member of Bridge Bank from 2000 to 2010 where he chaired the Directors Loan Committee during his tenure, David was also a general partner at Costella Kirsch LLC, a venture lending firm, for over ten years and has an extensive banking background in both community and national banks. Mr. Campbell was President and CEO of Burlingame Bank and Trust from 1993 to 1996 where he successfully stabilized the staff and restored profitability within one year of assuming leadership. From 1966 to 1993, Mr. Campbell held senior management positions at Cupertino National Bank as well as several positions with Bank of America. Mr. Campbell holds a BA in Business Administration from Fresno State University.

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MerchantService.com Releases Resources on Card Processing

MerchantService.com merchant account services has released a new video and article on their site titled “Credit Card Processing to Maximize Bottom Line Profits,” focusing on the benefits of credit card processing and the reasons why it’s essential that merchants of all size have a credit card machine. Credit and debit card transactions are rapidly growing in today’s marketplace, with nearly one-third of all consumer purchases in the United States made with some sort of payment card – and each of these transactions requires a merchant account.

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Banks Must Transform Operating Models by 2015 to Compete

The Russian banking market is set for dramatic changes over the next four years thanks to customer and banking models, according to 90% of Russian bankers. They indicated intense competition is “inevitable” thanks in great part to declining customer trust and loyaltyand changing customer behavior as disclosed by 80% of respondents. These findings, according to an Accenture report, also indicate the most commonly used banking products are basic and transactional, with salary cards, debit cards, and bill payment and money transfer services, used by 63 percent, 42 percent and 39 percent of Russians, respectively; only four percent of Russian bank customers hold investment products, seven percent hold mortgages and 10 percent hold car loans; and more than two-thirds of respondents (71 percent) reporting increasing expectations for multichannel access, 66 percent expecting greater simplicity and convenience from their banks and more than half (57 percent) saying they require faster service from their banks.

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Payment card industry gets doesn’t meet retailer expectations

The Retail Council of Canada (RCC) released its report card on credit and debit card industry practices. The report indicates 80% of respondents indicated that their merchant discount rates have either increased or remained the same over the past 12 months; 57% of respondents have seen an increase in premium card use in their stores over the past 12 months; 54% of respondents indicate the disclosure on their monthly merchant statements has remained unchanged since the introduction of the Code; 64% of respondents have not received any notification from their acquirer/processor that they have the right to cancel their current contracts with no penalties once receiving notification of a fee increase; and 80% of respondents believe they will receive no real benefit from switching acquirers/processors if they choose to cancel their current contract. These findings were concluded at the one-year anniversary of Finance Canada’s introduction of the Code of Conduct for Credit and Debit Card Industry in Canada.

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Infosys Stock down more than 9% on Q4 results

Infosys shares closed down 9.59 per cent on BSE at Rs 2988.80 after the Indian outsourcing firm reported lower-than-expected fourth quarter net profit, and dragged the broader market down. Infosys Technologies Ltd , India’s No. 2 software services exporter, lagged market expectations despite a 13.7 percent rise in quarterly profit, hurt by higher expenses in a seasonally weak quarter. Infosys could move lower because clearly the results are subdued and you are sitting on a large rally.

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