Monday, October 17, 2011

Banks have you hooked on their debit cards with their automated bill pay; is it really safe to use the cards in public anyway?



Maybe this story doesn’t really apply so much to “personal identity security”, but maybe it does, as far as this column has dealt with debt collection.


The New York Times Sunday ran a story by Nelson D. Schwartz showing how big banks can get away with their new debit card fees because they have everyone hooked on the ease of automated bill paying. It would be too much work to move twenty bills to a credit union, right?

For now, if you never use your debit card to actually make purchases (which security experts say you shouldn’t do anyway – so here’s the relevance) there’s no problem.

But it’s a lot easier to use it at the 7-11 than worry about trips to the ATM with your same bank.

Here we go with the story. A friend had said on Facebook that it was easier just to pay bills by mail. I don't think so. 


Monday, October 10, 2011

Couple faces foreclosure because "right" lender never received mortgage payments

This is not exactly an “identity security” situation, maybe a debt one, though. A family (Brian and Khanklink Pyron) in Houston may face foreclosure after making all its payments on time to Bank of America, the lender. The problem is that the title company, through whom BofA was supposed to pass payments to Wells Fargo, went under, and nobody told the homeowners. The Huffington Post story and video is (website url) here

In Massachusetts, someone faced foreclosure over a missed zero payment (does that make sense), and in Florida a similar situation occurred over a $4.70 fee.