US consumers borrow but resist credit card use
News from

Washington: Americans took out more loans to buy cars and attend school in February but used their credit cards less frequently for the second straight month.

The Federal Reserve said Friday that consumers increased borrowing by $ 8.7 billion (Dh31.9 billion), the sixth straight monthly increase.

The jump in borrowing was driven by $ 11 billion increase in the category that mostly measures demand for auto and student loans. Borrowing on credit cards fell by $ 2 billion after a $ 3 billion decline in January.

Total consumer borrowing rose to seasonally adjusted $ 2.52 trillion. That’s nearly at pre-recession levels and up from a post-recession low point of $ 2.39 trillion reached in September 2010. Borrowing had tumbled for more than two years during and immediately after the recession.

Consumer borrowing rose by $ 18.6 billion in January, following similar gains in December and November. The gains for those three months were the largest in a decade.

A rise in borrowing could suggest that consumers are feeling more confident about the economy. However, few are c…………… continues on

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When Using a Debit or Credit Card, Know Your Liability for Fraud
News from ABC News:

The recent credit card security breach at Global Payments is a wake-up call for all of us. We get in a comfort zone and forget that our financial information isn’t really in a fool-proof “vault.” Hackers sometimes find a way to breach even the best security systems. The folks who hack into data systems aren’t like the bumbling thieves from Home Alone. No, these people are tenacious, intelligent and crafty. We can build great security systems, but keep in mind that hackers tend to view this as a new challenge.

Of course, you can’t live your life afraid to use your plastic, either. In the Global Payments breach, the hackers got both credit card and debit card account numbers, which means they have the data they need to create a clone card. Now seems like a good time to review what consumer protections you have when it comes to fraud.

I’ve gotten a lot of questions about how fraud protections differ between credit cards and debit cards. The Federal Trade Commission offers more details and also give tips about how to prevent other types of fraud at

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