TD Bank Puts Customer Data in Danger: 5 Things to Know for the Week

Simon Zhen

Updated on Fri Oct 19, 2012

It’s always disheartening when a company compromises your personal information, especially when that company happens to be your bank. Such a slip-up happened at TD Bank, when the bank lost personal information of hundreds of customers during a data transport.

  • Monday is the extended tax-filing deadline for American taxpayers. Not filing by this deadline means that you’ll have to pay penalties and interest charges that have accrued since April. Also, tax returns filed after this date will only be accepted in paper form.
  • The Consumer Financial Protection Bureau announced that its consumer complaint database is no longer in beta mode. The agency intends to continue expanding functionality of the database. Currently, the database encompasses credit-card products — additional financial products will be added to the system in the future.
  • TD Bank says that it may have compromised the personal information of more than 260,000 customers when the bank misplaced data tapes during transport in Massachusetts. There is no evidence that the information is being used inappropriately, said a TD spokesperson. Affected customers have been notified of the situation and they are being offered free credit monitoring and identity-theft protection.
  • On Tuesday, the Bureau of Labor Statistics will release the September data for the Consumer Price Index, which will be used to calculate the composite rate of Series I savings bonds that are issued from Nov. 1, 2012 to April 30, 2013. Many savers have kept their eyes on I-bond rates because deposit-account rates are extremely low. MyBankTracker will breakdown whether the new I-bond rate is better than current CD rates.
  • This week, Visa, MasterCard and a group of retailers plan to request a settlement approval in a lawsuit revolving credit-card processing fees. However, Walmart and other merchants are opposed to the settlement because they believe it is a bad deal that will hinder merchant rights. Part of the settlement allows merchants to impose extra charges when consumers use certain credit cards.

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