MU cracks down on credit card use; strip club charges cited

Posted by administrator | 24/10/12 | Tagged Credit Card

MU cracks down on credit card use; strip club charges cited
News from STLtoday.com:

COLUMBIA, Mo. — The Missouri athletics department is tightening employee use of school-issued credit cards after an audit found a series of improper purchases, including bills for more than $ 7,600 from a Las Vegas strip club.

Department spokesman Chad Moller said Tuesday that director of video operations Michael Schumacher had repaid $ 7,605.50 for two credit charges from a May 5, 2011, visit to Olympic Garden. One of the charges included a $ 2,000 tip on a $ 4,400 bill at a nightclub billed as the “only Vegas strip club on the Strip.”

Schumacher was representing Mizzou at a professional conference but traveled alone, Moller said. He said “responsive and appropriate disciplinary action was taken,” but that he was unable to elaborate on a personnel matter. Schumacher did not respond to several messages left at his home and campus office.

The Aug. 14 Pricewaterhouse Coopers audit — part of a routine and periodic review of university business functions — also flagged nearly $ 3,000 in charges by former men’s basketball director of operations Jeff Daniels, who now works at Arkansas under former Tigers coach Mike Anderson.

Daniels billed the school for two charges of $ 1,489.54 each at the Vince Young Steakhouse in Austin, Texas, in January 2011; there is a $ 2,500 transaction limit. Those charges were for a team meal, both he and Moller said. Moller e…………… continues on STLtoday.com

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Credit Card Limits Increase, While Balances Drop In Many Major Cities
News from TheStreet.com:

A pair of studies from a leading credit reporting agency shows that credit card use continues to stabilize, especially in parts of the country hit hardest by the recession. Equifax’s recent National Consumer Credit Trends Report measured increases in auto loans, student loans, and new credit cards. Meanwhile, a study of regional credit card debt shows that overall balances keep shrinking in cities where consumers bore the brunt of unemployment and declining home prices.

For the first time since April 2010, the number of open American credit card accounts topped 300 million. While credit limits on those cards have risen above $ 1.87 trillion, consumers are only using about 22 percent of their available credit, Equifax researchers told reporters. Over $ 87 billion of that available credit originated this year, as banks grow more confident about their underwriting as consumers use credit cards more responsibly than in previous years.

Researchers see evidence of the trend in Los Angeles, San Francisco, Detroit, Atlanta, Miami, and Phoenix. All six of those cities saw their residents’

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Mizzou tightens credit card use

Posted by administrator | 24/10/12 | Tagged Credit Card

Mizzou tightens credit card use
News from ESPN:

Updated: October 23, 2012, 4:48 PM ET

Associated Press

COLUMBIA, Mo. — The Missouri athletics department is tightening employee use of school-issued credit cards after an audit found a series of improper purchases, including bills for more than $ 7,600 from a Las Vegas strip club.

Department spokesman Chad Moller said Tuesday that director of video operations Michael Schumacher had repaid $ 7,605.50 for two credit charges from a May 5, 2011, visit to Olympic Garden. One of the charges included a $ 2,000 tip on a $ 4,400 bill at a nightclub billed as the “only Vegas strip club on the Strip.”

Schumacher was representing Mizzou at a professional conference but traveled alone, Moller said. He said “responsive and appropriate disciplinary action was taken,” but that he was unable to elaborate on a personnel matter. Schumacher did not respond to several messages left at his home and campus office.

The Aug. 14 Pricewaterhouse Coopers audit — part of a routine and periodic review of university business functions — also flagged nearly $ 3,000 in charges by former men’s basketball director of operations Jeff Daniels, who now works at Arkansas under former Tigers coach Mike Anderson.

Daniels billed the school for two charges of $ 1,489.54 each at the Vince Young Steak…………… continues on ESPN

… Read the full article
.

Related News:

Credit Card Data Breach at Barnes & Noble Stores
News from New York Times:

WASHINGTON — Hackers have stolen credit card information for customers who shopped as recently as last month at 63 Barnes & Noble stores across the country, including stores in New York City, San Diego, Miami and Chicago, according to people briefed on the investigation.

The company discovered around Sept. 14 that the information had been stolen but kept the matter quiet at the Justice Department’s request so the F.B.I. could determine who was behind the attacks, according to these people.

The information was stolen by hackers who broke into the keypads in front of registers where customers swipe their credit cards and enter their personal identification numbers, or PINs.

In response to questions about the attack, the company acknowledged the security breach, saying that as a precaution customers who used their cards at any of…………… continues on New York Times

… Read the full article


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