Merchant

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus.

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware.

Patriot National in Connecticut planned to build a regional small-business lending operation on its own — until it had a chance to buy a national platform.

Banks are capitalizing on changing consumer habits - and satisfying a pressing need to diversify their loan portfolios - with a spate of instant point-of-sale loans for everything from iPhones to home improvements.

In recent weeks three surveys have been released that assess the U.S. fraud landscape across all of these audiences. These reports provide a holistic snapshot of where payments fraud in the U.S. is today.

Payments processor Shift4 Payments has acquired three point of sale companies that it will integrate to strengthen its presence in the hospitality POS market.

As billions of devices interact in trillions of transactions, autonomous payments will be required because there simply won’t be enough humans on earth to look at them all, writes Vaughan Emery, founder and CEO of Atonomi.

"Ring-fencing" is designed to reduce risk, but will lead to major changes in transaction infrastructure and open a temporary door for fraudsters, according to Marcus Hughes, head of strategic business development at Bottomline Technologies.

Patriot National in Connecticut would become the latest community bank to ramp up small-business lending with its $81 million deal to acquire Hana Financial's much larger SBA lending unit.

The results suggest that even as financial institutions implement more sophisticated fraud-mitigation techniques, they have not been keeping pace with criminals.