Posts Tagged ‘liability’

Irma Affected More than 90% of Florida Mortgages

Posted on September 21, 2017 by Laura Lam

More than 90% of all mortgaged properties in Florida are in a FEMA-designated disaster area following Hurricane Irma, nearly three times the number impacted by Hurricane Harvey, according to Black Knight.  “While the total extent of the damage from Hurricane Irma is still being determined, it is clear that the size and scope of the disaster is immense,” said Ben Graboske, Black Knight data & analytics executive vice president. Irma significantly outpaces even the number of borrowers impacted by Hurricane Harvey.  “More than 3.1 million properties are now included in FEMA-designated Irma disaster areas, representing approximately $517 billion in unpaid…

Chip Cards Still Causing Frustration

Posted on April 27, 2016 by Laura Lam

U.S. Credit-card networks began pitching chip cards years ago to protect against counterfeits, and merchants were supposed to join banks and payment processors by Oct. 1, or face liability for some fraudulent charges that occur in their stores. By the end of last year, only about 20% of terminals had been activated to process them, according to a Mercator Advisory Group report. In contrast, almost 60% of credit cards issued by banks are embedded with a chip. The expenses involved and longer transaction times have given many merchants pause in updating their systems. Retailers, from big-box chains to mom-and-pop stores, will spend a…