I want to make you aware of the VISA and MC " VAU '' Visa Account Updater and for Master Card, The Automatic Billing Updater or " ABU '' Programs. These are Programs whereby if you report your card lost or stolen, issuers of credit cards automatically issue your new credit card number to merchants that request it when you have a monthly billing or " continuity '' subscription with that merchant. They do this without asking or notifying you. They are in essence giving your number to a third party without your consent. In my situation, a fraudulent billing account was set with an online Merchant named XXXX. I was unable to get any redress from the Merchant as I did not create the account and could not provide them an account name or number to cancel. It was set up fraudulently. I called my card issuer ( BofA ) and they canceled the account and issued a new card. A month later the same charge showed up on the new card. BofA again cancelled the card and issued a new one. Its now 3 months laster, I am on my XXXX card and again the merchant charged my card without any contact from me. Someone is providing them the new card number to continue billing me erroneously. The problem lies in the fact that VISA, MC and all major banks like BofA have this program that provides the merchant the new card number to ensure a smooth transition to KEEP BILLING THE CONSUMER even after they have filed a fraud report. I find it incredible that BofA Fraud department keeps taking my fraud report, changing my card but VISA keeps giving out the new card number to the merchant without my approval. I am stuck in a never ending cycle of fraud, perpetrated by the bank and VISA and my only recourse is to cancel my relationship with the bank. 
This is a Bad financial policy. I urge the CFPB to investigate the financial industry giving out personal financial info without my consent. 
