Merchant

A recent story in American Banker reported that at least three banks are planning to launch new small-dollar loans products after the Consumer Financial Protection Bureau's payday lending rule becomes effective.

The San Jose (Calif.) City Council is reviewing the best way to recover the overdue fines without also chasing people away.

Mobility's incursion into merchant services is normally treated as a threat to independent sales organizations and legacy acquirers, who will find themselves on the outside as technology-based services take over the store.

Every business runs the risk of fraud, but some are more likely to be targeted than others. The customers you court, the products you sell and even the amount of time you have been in business can make you more vulnerable to an attack or more appealing to a cyber criminal.

When Walmart switched on Walmart Pay this week at 600 stores in two states, it marked the beginning of a new era, when merchants finally take the reins in mobile payments — and, by extension, the future of digital commerce.

The Merchant Customer Exchange, a retailer-backed mobile wallet venture of over three years in the works, has postponed its plans for a national rollout of its mobile wallet.

The Supreme Court on Monday ruled that private attorneys hired by states are not in violation of the Fair Debt Collection Practices Act when using official letterhead to collect a debt. The case has been watched closely by financial institutions for its interpretation of “false, deceptive or misleading” practices.

Huntington Bancshares is the latest institution to add a cybersecurity expert to its board, highlighting the growing importance of guarding against hackers and other online dangers.

Two Ohio law firms did not use illegal tactics when they mailed debt collection letters on stationery bearing the name of Ohio’s attorney general, according to a unanimous Supreme Court ruling Monday.

Complaints against debt collectors filed with the Consumer Financial Protection Bureau dropped last month from 3,505 complaints in March to 2,816 complaints in April, a 19.7% decrease.