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.

Total outstanding balances on auto and credit card loans increased year-over-year in August and bank-issued credit cards increased in two consecutive months for the first time in five years, according to Equifax's latest National Consumer Credit Trends Report.

Consumer advocates pressed the Consumer Financial Protection Bureau on Wednesday to crack down harder on credit card issuers despite recent regulations that largely curtailed hidden fees and predatory practices.

WASHINGTON — Banks and other credit card issuers are charging less in penalties and doing a better job of disclosing previously hidden fees, according to a report due out Wednesday by the Consumer Financial Protection Bureau.

Massachusetts is conducting an independent investigation of JPMorgan Chase's debt collection practices, a source told The Wall Street Journal.

In an agreement hailed by consumer advocates, the nation's largest bank by assets consented to a major overhaul of its debt collection and debt sale practices. The deal appears likely to become part of the blueprint for reform of an often-criticized industry.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

JPMorgan Chase will pay $920 million in regulatory fines related to its London Whale trading scandal, adding to the $6 billion in losses the bank already took as a result of the trades. Separately, the bank received a cease and desist order related to its credit card collection litigation.