ID theft potential escalates with Visa & Mastercard data breach

On March 30 Mastercard & Visa announced a data security breach at one of the main companies that processes transactions, exposing customer information.

“The breach occurred at Global Payments, an Atlanta company that helps Visa and MasterCard process transactions for merchants. One bank executive estimated that about one million to three million accounts could be affected. That does not mean that all those cards were used fraudulently, but that credit card information on the cardholders was exposed,” according to The New York Times.

Lax regulation of the payment processing industry is at least partly to blame. Read details at: http://www.nytimes.com/2012/03/31/business/mastercard-and-visa-look-into-possible-attack.html?_r=1&emc=eta1  Be alert for unauthorized use of your personal info; monitor your account online.  

Learn more about ID theft prevention at April 11 Financial Planning for Women.

More Middle-Income Borrowers Seek Debt Help

Debt counselors report more demand from middle-income consumers.
“The average income for consumers seeking debt-management plans is rising, according to Credability, an Atlanta-based nonprofit. Clients entering such plans had average income of $54,000 last year, up from $43,000 in 2007, the group said. High unemployment and the struggling housing market are likely driving the shift, said Mark Cole, executive vice president at Credability.” by Ann Carrns for The New York Times
http://bucks.blogs.nytimes.com/2012/01/30/more-middle-income-borrowers-seek-debt-help/
The Housing and Financial Counseling Service at the USU Family Life Center (493 North 700 East in Logan) provides very low cost financial counseling and educational workshops. For appointment call 435-797-7224. Check out their website which includes helpful worksheets, and their workshop schedule: http://www.usu.edu/fchd/housing/

Investment Quotes

Come and learn more about investing basics at next month's FPW workshop! Afterall, "an investment in knowledge pays the best interest" (Benjamin Franklin). Please email Jean Lown at jean.lown@usu.edu if you are interested in learning about a specific topic on April 14th, at 12:00 pm (noon) or 7:00 pm. Here are a few quotes you can stock away.

"The four most expensive words in the English language are, 'This time it's different.' "
-- Sir John Templeton

"The stock market is filled with individuals who know the price of everything, but the value of nothing."
-- Philip Fisher