Technology

The Federal Reserve Board’s proposed new debit-interchange rates are unlikely to go into effect this summer without some significant changes, the co-chief of a large independent service organization speculates.

Fiserv Inc. plans to begin delivering electronic statements through bank and credit union websites for Discover Financial Services card accounts, the processor announced Feb. 22.

Security Card Services LLC’s decision to renew its processing contract with National Processing Co. stems partially from a degree of comfort the companies have amassed in their 14-year history of working together, according to John Lewis, the independent sales organization’s president.

WASHINGTON — A year after the credit card reform law was enacted, Elizabeth Warren, the administration's official in charge with setting up the Consumer Financial Protection Bureau, said the industry has improved its practices and warned against over regulation of the card market.

Independent sales organizations and merchant acquirers using Panoptic Security Inc.’s payment-security service now have another tool to view their merchants’ security-compliance efforts–MyPCIDashboard, a service Panoptic announced Feb. 22.

Independent sales organization Paperless Transaction Corp. has added remote deposit capture-services to its product offerings, Financial Transmission Network Inc., the company providing the service, announced Feb. 21.

U.S. credit card delinquencies fell about 32% in the fourth quarter from a year earlier, according to TransUnion LLC.

A report released by The Coalition of Religious Communities (CRC) in Utah says more than a third of small claims lawsuits in the state's justice system are related to payday loan collection.

JPMorgan Chase & Co. is considering limiting the size of purchases allowed on its debit cards in response to the Federal Reserve Board's proposed cap on interchange fees.

Bank of America Corp. is adding another fee that may lead some of its customers to shut off paper statements.