Merchant

Purveyors of certain cloud services, such as cloud-based lending, face continual rejection from bankers worried about security. But some say a data storage specialist could be every bit as secure as a financial institution — if not more so.

The National Consumer Law Center wants the Consumer Financial Protection Bureau to ban all out-of-statute debt collections, arguing that the practice of chasing "zombie debts" is unfair, deceptive and abusive.

Debt-buying giant PRA Group, based in Norfolk, Va., has hired Nancy Porter as vice president of corporate communications.

TracFone, the largest prepaid mobile provider in the U.S., will pay $40 million to the Federal Trade Commission to settle charges that it deceived millions of consumers with false promises of unlimited data service.

As regulators continue to scrutinize payday lending and associated products, a California startup thinks it has come up with a unique alternative for offering credit to those with lower credit scores — and some financial institutions are already signing up.

The introduction of Apple Pay has also thrust Near Field Communication-based contactless payment technology out of the wings and into the spotlight.

Marketplace lenders are seizing on current investor enthusiasm after the December public listing of LendingClub. SoFi and Funding Circle have set new origination targets, and new capital markets deals may help replace bank credit lines for Blue Elephant Capital Management and perhaps others.

Arizona lawmakers voted Tuesday to expand a program that helps doctors repay their medical school debts if they agree to go where they are needed.

Consumer confidence in January rose to its highest point since before the recession, according to a new report.

Expert Global Solutions Inc., holding company of collection industry giant NCO Financial Systems Inc., has announced a large expansion in Virginia Beach, Va.