Credit

Credit Collections Defense Network, a debt settlement business based in Chicago, is banned from doing business in West Virginia after the state's Attorney General Darrell McGraw sued the company and its owners, claiming they were engaged in unlawful debt settlement activities in West Virginia.

NCO Group, the largest collection agency based on revenue, announced March 21 the appointment of Ronald A. Rittenmeyer as company president and chief executive, effective immediately.

Litle & Co.’s Web-based merchant clients may begin to protect themselves against card-not-present fraud through CyberSource Corp.’s Decision Manager online fraud-prevention service, CyberSource announced March 23.

Experian PLC this week unveiled an income model to help lenders comply with the new Federal Reserve Board rule clarifying elements of the Credit Card Accountability, Responsibility and Disclosure Act. The new rule requires issuers to consider only credit card applicants’ individual, not household, incomes (see story).

Three men who traveled to Honolulu from California last fall were charged with setting up card skimming devices at at least four local gas stations, then using the information to create counterfeit cards on six local credit unions and banks.

Telefónica O2 Germany GmbH’s customers now may purchase virtual and physical goods online using their mobile-phone number through a partnership the wireless carrier announced with Boku Inc. March 24.

The delay some lawmakers are seeking in implementing proposed new debit-interchange rules would represent a “huge handout” to large banks that do not deserve another bailout by consumers and businesses, Sen. Dick Durbin, D-Ill., told reporters March 24 during a teleconference outlining his opposition to a delay.

Encore Capital Group Inc., a consumer debt buyer, unveiled Monday a "Consumer Bill of Rights" - a document to "codify the company's commitment to conduct business ethically, engage in respectful and constructive dialogue with consumers, and play a positive role in consumers' financial recovery."

Union Bank of India Ltd. is partnering with Nokia India Pvt. Ltd. to launch a mobile-based payment service, a spokesperson for the Mumbai-based bank tells PaymentsSource.

Alexandria, Va.-based Pentagon Federal Credit Union said it is providing members with 5% cash back on every gas purchase paid for at the pump and 1% cash back on all other purchases with the use of its PenFed Visa Platinum Cash Rewards Card.

Illustrating how some card issuers are pursuing reliable, and potentially the most profitable, credit card customers, JPMorgan Chase & Co. on March 23 launched a souped-up version of its AARP Visa credit card that offers more rewards for travel and support for charitable giving.

Spotting an opportunity to help hospitals improve patient-payment collection systems and to expand its relationships with commercial customers, Wells Fargo & Co. this month is rolling out an online health care payment product that integrates various functions.

In response to the Federal Trade Commission’s annual report to Congress on the Fair Debt Collection Practices Act (FDCPA), released March 21 (see story), International offers the following comments from Interim CEO Ted Smith.

After backing off of the affinity and cobranded credit card market over the past few years, Bank of America Corp. is making comeback with a new AAA Member Rewards Visa credit card loaded with rewards benefits.

Lloyds TSB Bank PLC later this year will begin issuing Visa-branded contactless debit cards to its accountholders within the greater London area, the Scotland-based bank announced March 23.

Payments-software company ACI Worldwide Inc. has acquired payments-software provider ISD Corp. for an undisclosed amount, a move that adds 140 retailers to ACI’s client base, Carolyn Homberger, ACI vice president of programs and operations, tells PaymentsSource.

BankSimple.com has entered into a partnership with TxVia Inc. for processing debit card, online bill payment, and automated clearinghouse transactions, the New York-based companies announced March 22.

Discover Financial Services has benefited from making fewer bad loans, but much of its growth actually may come from products other than credit, according to executives at the company.

IP Commerce Inc. will use Retail Decision Ltd.’s fraud-prevention service to help small merchants and application developers combat card-not-present fraud, the London-based card-fraud prevention and payment-processing company announced March 22.

WESTON, Fla.–Independent sales organizations, concerned about how proposed new debit-interchange rules may affect their operations, are gearing up for changes in the ISO landscape even as experts say it is too soon to know the shape those changes ultimately might take.