Word: credit-card
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...protected from legal liability for more than $50 of unauthorized purchases by credit-card thieves. A company can go to court to collect that $50 maximum from the cardholder only if it had previously advised him of his liability and provided a self-addressed prestamped notice to be returned when the card is stolern or lost. The law also requires that all new credit cards bear clear identification of the holder, usually a color photo or signature. Now that he has legal protection against unauthorized credit-card purchases, the customer has only one remaining problem...
...credit-card companies-champions of a cashless society-are pressing for real money. The most troubled card firms are those, like Master Charge and Uni-card, that are either operated or owned by banks. A few years ago, these merchants of debt sent salvos of unsolicited cards to potential customers drawn from lists supplied by bank savings and mortgage departments. Now, faced with rising delinquencies, Uni-card, which is owned by the Chase Manhattan Bank, is screening applications more rigorously, and has enlarged its collection staff...
Last week the commission came to the aid of credit-card users who complain that computers foul up their bills. It proposed new rules that will probably take effect early next year. Under them, if a customer writes in to a company to dispute a charge in his bill, the company cannot seek payment or interest charges until it investigates the item and fully explains it to the customer. Nor can one firm tell another firm that a customer is a bad credit risk without first informing him. In still another move last week, the FTC aimed to bring more...
...written records, many of which remain potentially available to outsiders. Schools take careful note of his intelligence and keep a detailed record of his academic achievement. His doctors have files on his health; his psychiatrist, if he has one, takes notes on his inner turmoil, his secret fears. Banks, credit-card companies and the Internal Revenue Service know almost everything about his income and financial status. Once he has ever served in the military or worked for a defense contractor, the Govern ment knows a fair amount about his family and political associations. If he has moved recently, the storage...
...stopped watching him as my friends were climbing back into the car. Our driver walked over to the attendant and handed him his father's gas credit card. The man slowly took it with a grease-smeared hand and wheeled around towards the credit-card press as my friend got back into the driver's seat. There was a little happy talk in the back seat about the utter foulness of the bathroom and nickels lost forever in the fucking gum machine. The gas station attendant came to the driver's window with the credit-card on a receipt-board...