U.S. banks and merchants face mounting pressure to catch up with technology used in Europe, Asia and Latin America to secure credit- and debit-card data after tens of millions of Target Corp. customers were exposed.

The latest quarterly survey of U.S. and Canadian bank risk professionals found expectations for delinquencies on auto loans hit their highest level since Q4 2012, and expectations for delinquencies on credit cards reached their highest level in two years.

JPMorgan Chase & Co. said it replaced 2 million payment cards after the breach of consumer data at retailers including Target Corp.

Card reward programs are well past their Sperry & Hutchinson Green Stamps phase, where people redeem their rewards by picking items from a catalog that stays pretty much the same all the time.

Alabama State Employees Credit Union has filed the first class action by a financial services company against Target Corp. over costs from the massive card security data breach.

As the impact of Target's data breach continues to widen, credit unions have been more responsive than banks when it comes to issuing new cards, according to two recent online surveys.

Target Corp. faces almost two dozen lawsuits filed by customers after a computer security breach exposed data on 40 million debit and credit cards.

American Express has been ordered by federal regulators to pay nearly $76 million to settle allegations that it used to deceptive marketing and unfair billing practices to sell credit card add-on products to its customers.

Card payments account for more than two-thirds of all noncash payments in the U.S., and the number of checks written for payment is less than half of what is was a decade ago, according to the Federal Reserve Bank Services' 2013 payments study.

Retail giant Target confirmed Thursday morning that the credit and debit card data of 40 million of its shoppers has been compromised. The company says the problem has been identified and resolved.

MasterCard Inc. said its board of directors approved an 83 percent dividend increase and a 10-for-1 stock split.

The Consumer Financial Protection Bureau released preliminary research Thursday on the use of arbitration clauses in connection with consumer financial products and services.

Led by the biggest rise in credit card debt in five months, along with jumps in both auto loans and student loans, consumers increased borrowing by $18.2 billion in October, the Federal Reserve reported.

The number of credit cards issued by banks and retailers hit five-year highs between January and August, according to the latest Equifax National Consumer Credit Trends Report.

MasterCard, echoing remarks made 16 hours earlier by Visa, is placing security at the heart of its emerging payments strategy.

Scammers posing as collection agencies are becoming more deceptive and persistent, according to a news release from the Better Business Bureau.

One of the main promises of the 2009 credit card reform law was that clearer disclosures to consumers would prompt them to make more prudent financial decisions.

American Express Co., the biggest credit-card issuer by purchases, posted a third-quarter profit that beat analysts’ estimates as customer spending climbed.

Wells Fargo & Co.'s third-quarter profit jumped 13% as a decline in revenue from mortgage lending was offset by reduced expenses and fewer soured loans.

The payments industry faces a significant security challenge as too many consumers become "chronic oversharers" of their personal and payment card data, says Ellen Richey, chief enterprise risk officer for Visa Inc.