Many call centers in the United Kingdom "routinely" record calls with consumers' credit card information, suggest survey data from Veritape Ltd., a British firm that sells call-recording software. Veritape based the findings on a survey it conducted in September of 133 call-center managers, the firm says in a statement. Only 3% of respondents complied with rules that prohibit the storing of credit and debit card information "once a transaction is complete," Veritape says. About 61% of respondents said they were unaware of the rules, while 18% said they were "aware but … couldn't comply for technical or budgetary reasons." Eleven percent of respondents said they ignore the rules, while 6% said they were working toward compliance.
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The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.
9h ago -
The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.
10h ago -
The Consumer Financial Protection Bureau finalized a new version of a small-business lending rule that took 17 years to get over the finish line. Banks are still lobbying for the rule to be repealed.
11h ago -
New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.
April 30 -
A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.
April 30 -
The San Antonio-based bank reported annual declines in net charge-offs and nonaccrual loans, extending a run of solid credit-quality trends at Texas-based regional banks.
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