Merchant

CHICAGO —Heartland Payment Systems CEO Bob Carr will never be accused of not making his feelings known about the Merchant Customer Exchange mobile wallet venture.

Arkansas Attorney General Leslie Rutledge’s office said the state has won a $194,500 default judgment against a company that failed to respond to a federal lawsuit alleging violations of consumer protection laws.

The Automated Clearing House is too expensive and complex to provide faster payments for smaller banks and businesses, claims Dwolla, which contends its open system is a better option for those market segments.

U.K. consumers have been able to "tap & pay" with their contactless cards for nearly eight years now.

Three large U.K. banks have suffered recent payment glitches, including temporary outages at HSBC, Natwest and Royal Bank of Scotland—suggesting existing bank payment systems are challenged to process digital transactions.

The Mortgage Bankers Association sent a letter to the CFPB on Monday asking the regulator to overhaul its consumer complaint database that publishes unverified complaint narratives against mortgage companies and servicers.

A new battle is brewing between Fannie Mae and Freddie Mac as the government-sponsored enterprises set out to boost their purchases of low down payment loans.

Using an expanded view of credit data allowed collection agencies and debt buyers to increase their recovered dollars by up to 9%, according to a new study.

The U.S. Department of Education’s Office of the Inspector General issued a report stating the department failed to hold a student loan management company accountable for correcting deficiencies in its collection system.

MCX has announced Inmar will be the promotions management and processing vendor for its CurrentC mobile payments system, but it has not revealed the names or number of consumer goods manufacturer participants, a lack of disclosure that analysts say challenges the launch's credibility.