Fintech

ORLANDO, Fla. -- Is there a prime opportunity for credit unions in "prior prime" members?

Whereas banks have long struggled to migrate financial relationships onto mobile devices and to attract the underserved, carriers like T-Mobile come into the market with a distinct advantage.

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.

T-Mobile is launching a prepaid card, aiming to use mobile account access as a selling point to attract underbanked consumers.

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.

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.

Credit card spending rose during the holiday shopping season from American Express Co. and Capital One Financial Corp. customers led to higher fourth-quarter profits for both firms, the companies reported.

Judges for an appeals court appeared sympathetic to the Federal Reserve Board's defense of its rule capping interchange fees on debit cards, fueling hopes by bankers that the agency will beat back a legal challenge.

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