Merchant

The case against a South Dakota-based payday lending operation is wrapping up in New York state. The operation claimed to be affiliated with a Native American tribe in an attempt to avoid legal action.

Card manufacturer CPI Card Group is bulking up to handle the anticipated demand for EMV-chip cards as issuers and merchants rush to meet the 2015 deadline set by the card networks.

VeriFone has to concentrate on delivering EMV technology to several different customer groups while also making sure its product offerings stay manageable, CEO Paul Galant says.

The National Consumer Law Center on Monday sued the U.S. Department of Education as a result of the agency refusing to hand over documents detailing how the federal government awards bonuses to collection agencies it hires to pursue defaulted student loans.

Account Control Technology Holdings Inc. announced Tuesday the acquisition of Convergent Resources Holdings LLC. in a deal that will create a business processing outsourcing firm with more than 3,900 employees and 20 offices.

The law will reduce from 12 years to three the time debt collectors have to pursue homeowners in court for fore­closure debt.

The Commercial Law League of America has debuted its newly revised commercial collection agency certification program.

U.S. Sen. Pat Toomey (R-Pa.) has introduced a bill with bi-partisan support that exempts collection attorneys engaging in litigation from the Fair Debt Collection Practices Act.

The owner of a Houston-based debt collection operation, along with two company managers, are banned from the industry. The three were charged with multiple Fair Debt Collection Practices Act and FTC Act violations.

Auto loan debt per borrower has increased for three consecutive years, up nearly 13% - more than $1,900 - since the trend began in Q1 2011.