Congress probes Visa, AmEx role in Web scam
For years, baffled consumers looked to Visa, MasterCard, and American Express for answers when mysterious charges from "shadowy companies" began appearing on their credit card statements.
Even though all three card companies have rules designed to protect users from unauthorized charges as well as to weed out problem-plagued merchants, thousands of people appear to have complained to their card companies for years about three post-transaction marketing companies: Webloyalty, Vertrue, and Affinion. Perhaps as many as 30 million people were affected, according to a government report.
The U.S. Senate Committee on Commerce, Science, and Transportation launched an investigation … Read more