Merchant

A red light camera company is settling a lawsuit with thousands of drivers in New Mexico. The drivers claimed the company and its collection agency hassled them non-stop after voters in the city canceled the program in 2011 and the cameras were removed.

Last year marked another strong year for the auto loan market as originations increased compared to 2014, while the mix of loans across the entire credit spectrum held for the fourth year in a row, according to Equifax.

Prepaid cards and mobile wallets have become major disruptive forces in the financial services industry.

The Federal Reserve Board has terminated enforcement actions issued in 2010 against American Bank of Baxter Springs in Kansas and CB Financial in Wilson, N.C., and issued one against Hazard Bancorp in Kentucky.

Technology at many banks has been assembled haphazardly over years. That makes for complex systems with lots of connections. Those points are prime targets for cybercriminals to find a way in.

A California federal judge has ordered debt relief company Morgan Drexen Inc. to pay the Consumer Financial Protection Bureau more than $173 million to resolve an August 2013 lawsuit claiming the company collected illegal upfront fees for debt settlement service and ran deceptive advertisements.

I made a provocative comment, as it turned out, during my keynote at a recent conference. The comment was picked up in a press article that reported I said "the coding behind virtual currency bitcoin could also prove to be enormously transformational, potentially even replacing the Swift network for interbank payments."

D+H Corp. and The Clearing House are partnering to provide real-time payments to U.S. financial institutions.

An Illinois appeals panel found that collection agency HBLC may have broken federal collection laws by suing a man over a contested debt after the statute of limitations had expired.

Payday loan customers in Alabama would pay less under a bill that won approval Wednesday from the Alabama House Financial Services Committee.