Merchant

A Pennsylvania federal judge has dismissed a lawsuit accusing debt collector LMM Management of using the letterhead of an allegedly sham law firm to convince thousands of borrowers to pay delinquent debts.

In our first piece on collecting through litigation, we noted that the soft financial market and uneven regulatory landscape have led to a great deal of waste and loss of profitability in collecting unpaid debt. Now, we describe new systems that will employ technology to help litigation processes and return them to profitability.

Football season may be over, but the game is just getting started for the payment companies that saw the Super Bowl as their own proving ground.

The world of global payments is evolving rapidly – driven by an increasingly global economy, expanding consumer buying power in Asia and South America, rising adoption of digital payment methods, and increasing concerns over security and transparency.

The Electronic Transactions Association released its updated Guidelines on Merchant and ISO Underwriting and Risk Monitoring last week, spotlighting various merchant categories that face the biggest scrutiny from law enforcement agencies.

The FTC and the State of Florida have obtained settlements with a group of defendants who participated in a tech support scheme that allegedly defrauded thousands of consumers out of millions of dollars.

Legal collections took a backseat to other financial processes in the wake of the recession. But with the job market showing strength and the related assumption that defaulting borrowers are regaining the capacity to pay back debt, it’s expected collection revenue via litigation will grow in 2016.

In comparison to the countries that have already implemented faster payments, the U.S. market contains a far larger and more diverse array of financial institutions that would have to implement the system in order for ubiquity to be achieved.

The IRS won't meet the March 1 deadline to sign contracts with private debt collection agencies to collect unpaid tax debt.

SunTrust is turning to fintech to help it provide better payments solutions to its business customers. The approach is novel because so much of fintech innovation centers on overhauling retail banking.