by: Henry MeierThe news that the proposed $19 million settlement between MasterCard and Target has been rejected, in no small part because of the vocal opposition of credit unions that complained that the proposed deal didn’t adequately compensate smaller issuers for the costs of the breach that impacted as many as 40 million cards and 110 million people, is an important victory for the industry. It demonstrates that the concerns of smaller institutions have to be a major focus of any efforts by the courts and policymakers trying to apportion the costs of data breaches. This may have been the moment when the little financial institutions came together and announced that, when it comes to data breaches, “they’re mad as Hell and they are not going to take it anymore.”Under an agreement announced between MasterCard and major issuers in March, issuers would have gotten $19 million to settle claims related to the breach provided that at least 90 percent of card issuers signed off on the deal by May 20th. If you, like your faithful blogger, were already in long-weekend mode on Friday, you may have missed the news. As NAFCU’s Carrie Hunt said in this morning’s American Banker, “[t]he failure to opt in to the settlement by financial institutions sends a strong signal to card companies that the current reimbursement system does not work and financial institutions need to be made whole.” continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
StumbleUpon Share Submit Share Related Articles Veikkaus calls for early introduction of Finnish age verification measures August 28, 2020 Veikkaus revamping business around responsible gambling objectives November 1, 2019 Finnish ombudsman seeks to break-up Veikkaus control by state departments October 23, 2019 Accuscore has partnered with YLE the national broadcasting company in Finland, to provide the broadcaster with World Cup game predictions and individual player performance projections.These predictions will be integrated to YLE’s Voitto- robot, that automatically generates news articles based on data, during the World Cup all match preview articles on the YLE website will be done by Voitto and will be made up of statistics, predictions and pre-game analysis.Jarkko Ryynänen, product owner at YLE commented: “We want to provide up to date information during hectic World Cup tournament to our viewers quickly”, says: “We will combine human work with automated article generation and that will bring our audience faster, more accurate and interesting content.“Many fans are looking additional information before the games. We want to be objective content provider to meet fans’ demand”, says Tuomas Kanervala, CEO of Accuscore. “As automated text generation will have more applications also in the field of sports news, we are very happy to start working with YLE. This is the first time when our data feeds are integrated directly to the text generation robot.”YLE has a strong presence in Finland, operating four television channels and three channel slots as well as six radio channels and services complemented by over 20 regional radio programmes. Yle also has the most extensive and varied online selection of television and radio programmes in the country.In 2017 Yle reached every Finnish person. Yle TV1 was the most popular television channel in Finland and Yle Radio Suomi most listened radio channel. The public considers Yle to be a reliable source of news and current affairs. The company plays a major role in producing and presenting programmes dealing with national arts, educational programmes and children’s programmes. Yle’s services to the public also cover special and minority groups.AccuScore is a sports simulation company that accurately simulates sporting events prior to their scheduled time. Accuscore defines each player with a unique algorithm and simulate every match approximately 10,000 times. The current licensing and subscription services cover all major US sports and top 12 football leagues round the world. Accuscore provides game predictions as well as individual player performance projections to be used also in fantasy sports.