Merchant

The state of Illinois has spent more than $900 million on penalties for not paying its bills on time over the past six years, according to the Chicago-based government watchdog group, Civic Federation.

While Walmart's lawsuit against Visa this week centers on authorization and routing methods, the Debit Network Alliance LLC — a group of independent debit networks — is also taking issue with EMV routing in addressing how terminal software is handling the choices presented to consumers.

Hackers believed to be working from China accessed the computer systems of top officials at the Federal Deposit Insurance Corp., according to a top House lawmaker investigating the incident.

The total balance of write-offs year-to-date through March for first mortgages, home equity lines of credit and home equity loans is $9.5 billion, a nine-year low for Q1 and a year-over-year decrease of 22.7%, according to Equifax's National Consumer Credit Trends Report.

RealtyTrac's latest U.S. Residential Property Loan Origination Report shows 1.4 million loans were originated on U.S. residential properties in the first quarter, the lowest level since the first quarter of 2014.

Unless the U.S. card business is able to offer merchants scaleable solutions that are cheaper and quicker to implement, there is a serious risk of full EMV migration taking several years to complete.

The Consumer Financial Protection Bureau has charged a Mississippi company with refusing to disclose check-cashing fees to consumers, deceptively pressuring borrowers into taking out multiple payday loans and keeping overpayments.

The CFPB filed a lawsuit Wednesday charging a check casher and payday lending company of tricking and trapping customers at its 43 stores in Mississippi and at locations in Louisiana and Alabama.

Say what you will about these companies' longevity, were it not for the likes of Lending Club you wouldn't see banks like Wells Fargo introducing expedited loan products.

Citigroup is testing Bluetooth beacon technology in a pilot that gives customers cardless access to branch ATMs after business hours, among other services.