Merchant

NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for new banks.

The CFPB wants a federal district court to enter a final judgment to shut down a student debt relief scheme that allegedly charged borrowers millions of dollars in illegal upfront fees for federal student loan services.

The Education Department could ban colleges from including mandatory arbitration clauses in student enrollment agreements. The proposal is part of ongoing rule-making talks focused on creating a new debt relief process for defrauded student loan borrowers.

The last individual defendant in a mortgage modification scam is banned from selling debt relief and mortgage-related products and services and from telemarketing under a court order obtained by the Federal Trade Commission.

Consumers' expectations about earnings, income and spending improved in February, according to the Federal Reserve Bank of New York’s latest Survey of Consumer Expectations.

As merchants prepared to swap out their aging magstripe terminals for modern EMV card readers, acquirers hoped that this widespread demand for equipment would flood ISOs with revenue. But instead, some are finding EMV simply added to their expenses.

Retailers who claim that restrictions on debit card fees benefit credit unions and community banks miss the point: These price controls are bad for consumers.

Payment processor Heartland Payment Systems Inc. and global payment provider Computop have agreed to integrate their platforms to provide international payment processing.

China is testing a program that allows banks with bad loans to sell that debt to investors, The New York Times reported Saturday.

The Justice Department is notifying state and municipal court systems in a letter sent Monday that defendants who fail to pay fines or fees shouldn’t be jailed. The letter warns that such practices run afoul of the Constitution and harm trust within communities.