Merchant

Firm will pay $700 million to settle issues stemming from data breach; don’t expect JPM CFO Jennifer Piepszak, or anyone else, to be named heir apparent.

When Amazon was busy driving traffic to its site — and the likes of Walmart and Best Buy were aggressively trying to pull shoppers away — it also invited several issuers to compete to be the top-of-wallet card for Prime Day spending.

The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.

ZestFinance is bringing its machine learning software ZAML to Brazilian retailer Via Varejo and its digital banking subsidiary Banqi to power the credit underwriting for Varejo’s “carnês” point-of-sale microfinance lending product.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

As budget questions loom over the most popular Small Business Administration loans, lenders have embraced the previously overshadowed 504 program after a key policy tweak.

Even with an economy that has slowed to a "moderate" pace, American Express says U.S. consumers' spending trends remained solid and, in the case of Amex cardholders, they are willing to pay fees for cards that come with the right features.

As budget questions loom over the most popular Small Business Administration loans, lenders have embraced the previously overshadowed 504 program after a key policy tweak.

While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.