Merchant

The U.S. Department of Defense on Tuesday issued the final Military Lending Act (MLA) rule to protect service members from predatory credit practices and grow their financial protections.

A fifth of the financial institutions that participated in the Small Business Lending Fund have fully left the program and an increasing number of banks are joining them before the dividend rate jumps to 9% next year.

Apple executives didn’t flaunt Apple Pay transaction numbers or Apple Watch sales figures during a July 21 third-quarter earnings call, but they did provide some measure of merchant acceptance of the growing mobile payment system.

ACA International recognized 18 members' outstanding accomplishments in the credit and collection industry at an awards ceremony this week at the 2015 Convention & Expo in Boston.

The FTC asserted Tuesday that LifeLock violated a 2010 settlement with the agency and 35 state attorneys general by continuing to make deceptive claims about its identity theft protection services and by failing to take steps required to protect its users’ data.

As more point of sale terminals include connections to the Internet and customers' mobile devices, payment companies may need to consider themselves in an "Internet of Things" environment — with all of the risks that implies.

WASHINGTON — There were no birthday cakes or celebratory singing. Instead, the anniversary of the Dodd-Frank Act on Tuesday was commemorated with what the law does best: engender constant debate.

Data breaches happen so frequently these days that many consumers have “breach fatigue.” However, the threat does not die when public interest does. Stolen data moves faster than breaches can be detected, heightening the risk for merchants.

The credit union-led CU Wallet is working to attract small-business support by drawing on the local ethos that credit unions have nurtured for years, but it faces a formidable challenge as device makers such as Apple and Samsung bake their own wallets into the hardware.

WASHINGTON — Citigroup is facing $770 million in charges after two federal regulators said the megabank engaged in deceptive marketing and unfair billing practices related to its credit card add-on products.