Merchant

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.

A top CFPB official said student loan companies are at risk of breaking the law if they place people in default when the co-signer of their loan dies or declares bankruptcy. The CFPB’s latest Supervisory Highlights report focuses on problems in the student loan industry.

The focus on the smart-home device marks the latest frontier in the ways in which banks and payment companies are testing features on cars, fridges, watches and other internet of things.

The confusion over how banks categorize chargebacks has become the latest minefield in the transition to EMV chip cards in the U.S. And the sheer volume of chargebacks has forced some merchants to turn to legal action, questioning the entire migration process.

In opposing restrictions on interchange fees, the financial services industry often claims that 2011 debit swipe-fee reforms are such a huge threat to revenue that even small banks and credit unions below $10 billion in assets, which are exempt from the Dodd-Frank Act rules, feel the pinch.