Merchant

Outstanding consumer credit, a reflection of all debt besides mortgages, rose $15.98 billion or at a 5.5% annual rate in October, the Federal Reserve said Monday.

SunTrust Banks Inc. introduced enhanced rewards and bonuses with three new credit cards for customers about seven weeks after the October EMV liability shift, gaining some headwind with the added security of chip cards and an offer of free FICO score reporting.

A recent column by Penny Crosman on whether cards with newer chip technology should be paired with a signature or PIN, for added security, came down squarely on the side of using PINs. But the article overlooked a key fact in the debate: neither is the most important defense against fraud. It’s the chip that matters.

As wearable computing transitions from fantasy to fashion, developers are starting to consider the distinct risks that arise when payments migrate away from smartphones.

WASHINGTON — The Consumer Financial Protection Bureau is seeking $1.85 million in fines and restitution from EOS CCA, a Norwell, Mass., debt collection firm accused of holding on to a tainted AT&T portfolio of old cellphone bills.

A Massachusetts collection agency and debt buyer is the target of a federal complaint filed Monday by the Consumer Financial Protection Bureau. The agency is accused of reporting and collecting on old cellphone debts disputed by consumers.

Competition for commercial clients is fierce, so banks are on the hunt for ways to keep their customers happy.

The debate over whether signatures or PINs are a stronger security feature overlooks the fact that neither is the most important defense against fraud.

The financial outlook for nonprofit healthcare facilities in the U.S. has improved enough that the hospital industry should be able to ward off upcoming shifts in government payments and moves by employers to coordinate care toward outpatient services, according to a report from Fitch Ratings.

Merchant cash advance (MCA) is a common form of alternative lending that many ISOs and agents offer to supplement their income.