The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Royal Bank, TD and CIBC hike mortgage rates Jan 13th
Three of Canada's biggest banks have hiked the rate on their benchmark five-year mortgage, and more are expected to follow suit..... More »
Clash of Clans maker Supercell tops company, individual earner lists in Finland + MORE Nov 2nd
HELSINKI – Mobile gaming company Supercell is now reportedly Finland’s biggest money-maker, with a taxable income nearly 10 times that of one-time cellphone powerhouse Nokia.
Finnish news agency STT on Monday said the company behind the popular strategy game Clash of Clans last year had .... More »
The Future of FinTech + MORE Nov 6th
The way we manage our money – from the bank branch to the checkout lane – is rapidly changing in Canada. New tap technology, automated investments and biotech solutions have traditional bankers scrambling to keep up – how can consumers navigate this ever-changing financial reality.... More »
Trying to engineer a profitable portfolio Apr 10th
Somayaji Ayalasomayajula, 22, Mechanical Engineer, Toronto
I’ve been interested in growing my money since I was 12. At a pretty young age my dad gave me some money and helped me buy a GIC (guaranteed income certificate) with it. I think the aim was to help me see how money grows through interest a.... More »
Worried about your credit rating? Avoid these 5 credit card mistakes + MORE Oct 26th
You don’t think about your credit rating opening doors for you—until it abruptly swings one shut. However, in order to appreciate what you could do differently to improve your credit rating, it helps to understand what exactly that is.
Find your next credit card*
See cards tailored for you fr.... More »
Target sets aside $19M for MasterCard issuers caught up in pre-Christmas 2013 data breach
– canadianbusiness.com
NEW YORK, N.Y. – Target and MasterCard say they’ve agreed to settle lawsuits over the discounter’s pre-Christmas 2013 massive data breach.
Target said late Wednesday it has set aside up to $19 million for banks and credit unions issuing MasterCards that were caught in the data breach that compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15, 2013.
MasterCard Inc. said the money will be available to banks and credit unions for operating costs and fraud-related losses on cards believed to have been affected. The settlement will go into effect if at least 90 per cent of eligible issuers accept the offer by May 20.
“We are hopeful that Target’s agreement to pay up to $19 million to settle the claims of MasterCard and its issuers will result in a high level of issuer acceptance,” said Scott Kennedy, president, financial and retail services at Target in a statement. “Target intends to continue to defend itself vigorously against any assessments made by MasterCard on behalf of MasterCard issuers that do not accept their offers…
Target said late Wednesday it has set aside up to $19 million for banks and credit unions issuing MasterCards that were caught in the data breach that compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15, 2013.
MasterCard Inc. said the money will be available to banks and credit unions for operating costs and fraud-related losses on cards believed to have been affected. The settlement will go into effect if at least 90 per cent of eligible issuers accept the offer by May 20.
“We are hopeful that Target’s agreement to pay up to $19 million to settle the claims of MasterCard and its issuers will result in a high level of issuer acceptance,” said Scott Kennedy, president, financial and retail services at Target in a statement. “Target intends to continue to defend itself vigorously against any assessments made by MasterCard on behalf of MasterCard issuers that do not accept their offers…
