Merchant

U.S. consumer credit defaults in April declined from the previous month to 1.1%, falling to the lowest mark since June 2006, according to the S&P/Experian Consumer Credit Default Indices.

The days of salesmen peddling point of sale terminals by simply pulling hardware out of a box are likely numbered.

Touch-screen point of sale systems make a substantial impact on a merchant’s bottom line. In fact, a POS system typically delivers 4% to 8% in operational savings, resulting in a significant improvement to a merchant’s profitability.

A proposed U.S. Senate bill that would send unpaid Internal Revenue Service taxes to private collection agencies would be a money-loser for the tax agency, argues the IRS Oversight Board, a watchdog panel.

The U.S. Department of Education named ConServe, formally known as Continental Service Group Inc., as the top performing private collection agency on the department's contract for the first quarter ending March 31.

A report released Thursday by the Consumer Financial Protection Bureau highlights illegal actions the agency has uncovered from overseeing the collections, consumer reporting and payday lending markets.

Arrow Global, a United Kingdom-based buyer of delinquent debt from credit card companies and banks, reported strong Q1 collections on purchased loan portfolios.

DebtX, on behalf of SEBA Professional Services LLC, will sell a $4.8 billion portfolio of non-performing residential loans in June for the U.S. Department of Housing and Urban Development.

Nordea Bank will offer iZettle's mobile card readers to its small business customers in Sweden, Norway, Denmark and Finland.

The people behind a Southern California-based debt collection operation also will pay $4 million to settle the case against them.