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WASHINGTON — Bankers and their representatives harshly criticized a call for the U.S. Postal Service to offer financial products like prepaid cards, remittances and even small consumer loans to underbanked consumers, saying it was a dangerous and foolhardy idea.

A Wisconsin woman accused of embezzling thousands of dollars last year from the bank where she worked claimed she committed the crime to pay back debt to payday loan companies.

Michaels is investigating a possible data security attack, CEO Chuck Rubin said in a letter to customers.

Retailers are letting Congress know they support federal efforts to thwart cybercrime, while voicing their support of chip-based EMV smartcards combined with PIN authentication as a defense against future breaches.

Discover Financial Services rode credit card loan growth in the fourth quarter to earnings of $602 million, an increase of nearly 12% over the same period in 2012.

Major bank and retail card issuers are lacking in key security areas, according to a new study from Javelin Strategy and Research.

Neiman Marcus Group Ltd., the luxury retailer, said about 1.1 million credit cards may have been compromised in a data breach that occurred last year.

Payment service provider EVO Payments is partnering with fraud prevention company ReD to provide integrated fraud prevention to EVO's e-commerce merchants.

As banks are moving through the "methodical process" of reproducing new cards for customers whose data may have been compromised in the recent Target data breach, they are also studying the best security options for the future, says U.S. Bancorp CEO Richard Davis.

Financial data company Accuity has completed a massive data management project to deal with the concurrent challenges of a merger conversion, new compliance mandates and the growth of digital and cross-border payments.

While it is easy to vilify Target for its recent data breach, the card networks' refusal to take on real card security makes the retailer a victim along with consumers.

It's been roughly a decade since Target executives ended their attempts to convert to EMV-chip payment cards to improve security. After a massive breach of magnetic-stripe card data, it seems they have changed their minds yet again.

McAllen, Texas police have arrested two people from Monterrey, Mexico that the local cops say were in possession of fake credit cards made with information obtained from the Target data breach.

South Korea's biggest theft of personal information on credit-card holders prompted dozens of top executives at financial firms including KB Financial Group Inc. to offer to quit this week as a regulatory probe widened.

Target Corp. warned some Canadian customers that their personal data may have been compromised when hackers stole credit- and debit-card information from the discount chain's U.S. operations last year.

Seeking to improve the security of digital payments by making card data tokenization operate the same way around the world, EMVCo plans to establish new standards.

Wells Fargo (WFC), U.S. Bancorp (USB) and Fifth Third Bancorp (FITB) all pulled the plug Friday on a controversial lending product that competes with payday loans.

Danish payments manager Pensio and London-based fraud prevention provider ReD have partnered to offer a fraud screening service to Pensio's merchant clients.

Total System Services has developed a product that allows consumers to control their card accounts from smartphones or computers.

Starbucks has released an update to its mobile app that's designed to enhance security following reports of vulnerabilities related to how its app stores passwords.