Merchant

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.

Southwest Bancorp in Stillwater, Okla., and LegacyTexas Financial Group in Plano have disclosed exposure to a commercial borrower that faces criminal and civil investigations.

New York Attorney General Eric T. Schneiderman alerted consumers on Wednesday about collection and financial scams circulating in the state. The scams often target seniors, students and first-generation Americans.

ExxonMobil, the world's largest oil company, now accepts Apple Pay at a majority of its U.S. gas stations.

One of the defendants in the IWorks scheme that allegedly took more than $280 million from consumers via deceptive trial memberships for bogus government-grant and money-making schemes has agreed to settle Federal Trade Commission charges.

Obtaining money transmitter licenses in every state has been a lengthy process for WorldRemit, but one that paid off big this month when the company became regulated in California.

The third party wallets, or the “pays” as they are called, are failing to make a splash. Mobile wallets which let you pay any merchant from your smartphone are simply not a reality today.

Financial services technology provider Jack Henry & Associates Inc. is the latest company to collaborate with The Clearing House to speed processing, a move that will substantially increase the number of banks capable of executing faster payments.

The tax agency's struggle to protect sensitive data mirrors banks' own, and its shortcomings can also be found at financial institutions.

The CFPB revealed Tuesday that exams of banks and nonbanks resulted in the remediation of $14.3 million to roughly 228,000 consumers. Debt collection and credit reporting violations were frequently cited as troublesome.