Merchant

As the Federal Reserve guides the U.S. on its steady march toward a faster payments system, a thorny issue continues to plague some of the most prominent efforts: Could the smaller banks stay abreast of the technologies that larger banks are readily supporting and deploying?

The Poughkeepsie, N.Y.-based credit union agreed to pay $95,000 to settle claims that it incorrectly repossessed vehicles of service members.

The Atlanta-based consumer lender, which partners with both retailers and banks, cited a higher-than-expected cost of funds as one reason for its less rosy forecast.

The breach may have occurred through a technique called "credential stuffing," in which hackers who have stolen passwords for other websites try them out on an online banking site.

Big banks and fintechs are aggressively adding digital capabilities to process applications quickly, creating a sense of urgency for community banks.

The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion.

Companies that rely on contract work also depend on diversifying revenue streams, a cycle that will repeatedly place fresh stress on an already complicated payroll system.

Merchants and intermediaries who plan to accept crypto payments should ensure that they have compliance programs and policies in place to ensure that they can appropriately diligence the use of cryptos so that their involvement with these new products does not enhance their liability risks, write Evan Koster and Marc Gottridge, partners at Hogan Lovells.

France-based Ingenico has named a new CEO a month after receiving an unsolicited takeover bid, signaling a strategy shift in the face of increasing pressure on the last of the independent payment terminal hardware giants.

The Bank of England issued a challenge for consumers who usually pay with cash to go cashless for a week, as an educational experience prior to its upcoming conference, Future Forum 2018.