Merchant

Opus Bank in Irvine, Calif., has received regulatory approval to form a broker-dealer subsidiary that will expand its merchant banking capabilities.

A California federal judge has approved a $2.75 million settlement with USCB Inc., an accounts receivable management firm, to end allegations that the company violated the Telephone Consumer Protection Act and the Fair Debt Collection Practices Act.

The U.S. Court of Appeals for the Eighth Circuit has reversed a District of Nebraska’s order granting class certification to a lawsuit, Powers v. Credit Management Services (CMS) Inc.

The Consumer Financial Protection Bureau and Financial Services Roundtable have launched a public-private initiative to promote effective financial education across the U.S.

As Starbucks has proven for years, few retail interactions are more tailor-made for mobile payment than coffee sales. But when U.K.-based grocery chain Marks & Spencer launched its own coffee loyalty app in a 58-store trial in London, it chose to keep its menu much simpler.

Small business alternative lender Biz2Credit has added Fortis Payments to its roster of payment partners.

Apple's mobile wallet has been out for just four months, and already it has shaken up the way mobile payments operate at the point of sale. It has faced pushback from some merchants and banks, but it has also popularized new forms of security and other payment technology.

The American Civil Liberties Union filed a federal lawsuit Thursday against a judge in Georgia and Judicial Correction Services, claiming the private company's debt collection practices led to poor people being jailed because they couldn't pay.

Two car title lenders settled Federal Trade Commission charges requiring them to stop using deceptive advertising to market title loans. The complaints mark the first time the FTC has taken action against car title lenders.

WASHINGTON — The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules.