As consumers lose millions to gift card scams, lawmakers pressure businesses [Yahoo! Finance]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Yahoo! Finance
Others, acting in bad faith, see these gift card displays as easy money in one of the country's costliest and most common consumer scams: card draining. Scammers drain a gift card by obtaining the bar code, CVV number, PIN number or activation code from beneath the slim cardboard packaging. They reseal the card, wait for a consumer to buy it and load it with money, and then spend the balance before the consumer can. In 2023, card draining and other gift card-related fraud made up $217 million of the record-high $10 billion in money lost from scams nationwide, according to the latest data released by the Federal Trade Commission. State attorneys general and legislatures are trying to combat gift card scams with consumer alerts, arrests and warning signs on store displays. Some are even telling gift card makers how to package their products. Retailers and card manufacturers, though, are pushing back — saying the micromanaging isn't necessary and would hurt small businesses. Gif
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News
- Major US retailers blast Mastercard, Visa card fees settlement [Reuters]Reuters
- Where Money Meets Innovation: Money20/20 Europe's 'Human X Machine' in Amsterdam, June 4-6 [Yahoo! Finance]Yahoo! Finance
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- Bridgewater and Global Citizen CEOs support World Bank's campaign to replenish its coffers [Yahoo! Finance]Yahoo! Finance
- Bridgewater and Global Citizen CEOs support World Bank's campaign to replenish its coffers [Fortune]Fortune
MA
Earnings
- 1/31/24 - Beat
MA
Sec Filings
- 4/29/24 - Form 4
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- MA's page on the SEC website