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CFPB Arbitration Plan May Face Legal Challenge; Bitcoin 'Creator' Bows Out

A debt-buying giant has been recognized by Forbes as one of America's Best Midsize Employers.

Security Service Federal Credit Union announced the launch of Security Service Insurance (SSI), a subsidiary of SSFCU.

The finance industry pushed back against a proposal by the Consumer Financial Protection Bureau Thursday that would ban arbitration clauses in consumer contracts. If there is a flurry of class action lawsuits against banks and credit cards companies, the financial firms will no longer use arbitration because of the higher legal costs.

A federal judge in Pennsylvania has ruled that a recovery agency facing alleged Fair Debt Collection Practices Act violations will see that case go forward.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Mobile wallets may not have eliminated cash and cards, but they are becoming almost unavoidable in many retail settings. However, there are still a few areas where mobile technology is slow to arrive.

Multifactor authentication is high on the list of payment security requirements, including new standards from PCI. For any company on the fence on adding stronger authentication, there's plenty of examples of what can go wrong with basic identity management.

While it's generally good news when a business gets larger, that growth can quickly get stunted if the company gets hamstrung by a more complicated supply chain.

Though many have tried and failed to get bitcoin into the mainstream, iPayYou CEO Gene Kavner is ready to take a page out of the playbook of Amazon.com, his former employer, to bring attention to his new bitcoin wallet.