Technology

NEW YORK – Bankers, consumer advocates and other industry members gathered this week to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

If an online merchant or bank composed a fraud-prevention wish list, it likely would have two important factors right at the top: Confirm the customer is actually who he says he is, and make sure the device he is using to access our website matches his profile and hasn’t been used in previous fraud attempts.

Trustwave wants to establish barriers at the “front door”–software-applications customers use to enter and move around a merchant or bank website–that many cyberhackers enter to attack payment systems and retrieve personal or card data.

A U.S. district court has issued a contempt ruling against promoters of a credit repair, debt relief and food stamp operation who violated a 2010 settlement with the Federal Trade Commission.

More winners and losers are beginning to emerge from new debit card network-routing rules that go into effect April 1.

Credit unions and community banks served by The Members Group now have access to a fraud-prevention tool that adds flexibility for them and a more hassle-free experience for their cardholders.

Americans across the country continue to slash away at their credit card debt, but a return to card borrowing may be around the corner.

Overcoming what Euronet Worldwide Inc. executives called regulatory, competitive and economic pressures, the international electronic funds transfer company on Feb. 20 reported strong fourth-quarter transaction growth and revenue increases.

To calm consumer fears about having card-account numbers stolen wirelessly, the University of Pittsburgh has developed a way to switch contactless cards off automatically when they are not in use.

As more merchants store credit card data in the virtual servers of cloud-based payment systems, the challenge for security providers is to keep the data safe.