Credit

Elizabeth Warren, the top Obama administration official in charge of setting up the Consumer Financial Protection Bureau, made it clear late Wednesday that she intends to target financial disclosures as one of her top priorities.

Private-label credit cards are making a comeback with retailers.

At a time when many of the big card issuers are scrambling to create new fees and raise rates on existing balances, Harrisburg, Penn.-based Pennsylvania State Employees CU is lowering the rate on certain card balances.

A Web-based incentive company is hoping Facebook Inc.’s virtual currency system can become a more-effective and less-expensive way for Internet retailers to develop consumer loyalty.

Online payment gateway GoToBilling Inc. has a new reseller program that it hopes will attract more independent sales organizations and, subsequently, more merchants, the Bozeman, Mont.-based company says.

Charles Schwab Corp. on Oct. 1 will end its sponsorship of its two rewards credit cards for its investment clients, resulting in a $20 million pretax charge the company expects to absorb during the third quarter.

Sales representatives for TransFirst will sell merchant services to business customers of MainSource Bank, the Hauppauge, N.Y.-based merchant-services company announced Sept. 28.

The Central Bank of Sri Lanka last week ordered the country’s banks to cut the annual interest rate they apply to credit card balances to 24% by the middle of October.

Fifth Third Processing Solutions LLC has signed processing contracts with four Texas-based financial institutions, the Cincinnati-based company announced Sept. 29.

Masabi Ltd. has secured $2 million from m8 Capital, a United Kingdom-based mobile-technology investment company, to aid in the global rollout of a barcode-based mobile application designed to enable consumers to purchase train tickets using their mobile phones from any location, London-based Masabi announced on Sept. 28.

Improving product delivery in the face of new payments regulations is among the top priorities for First Data Corp.’s new chief executive.

Consumer confidence fell in September as pessimism about the economy increased, The Conference Board Inc., a New York-based research organization, reported Sept. 28.

Cynergy Data LLC has a new processor. TSYS Acquiring Solutions, a unit of Total System Services Inc., will handle authorization, settlement and charge-back matters for the Long Island City, N.Y.-based independent sales organization, TSYS says.

UAE Exchange Inc. has signed an agreement with MasterCard Worldwide to offer MasterCard’s MoneySend service in the United Arab Emirates for outbound remittances to the Philippines, according to the Dubai-based remittance and foreign exchange provider.

National Bank of Australia Ltd. has become what is says is the first bank in Australia to reform the way in which it manages interest applied to payments and balance transfers on credit card accounts.

FleetCor Operating Co. LLC on Sept. 27 launched the Chevron and Texaco Universal Business MasterCard credit card designed with a flexible platform to serve both large and small fleet operators, the company says.

Only one of the 2,150 credit unions with credit card receivables of $1 million or more sold its portfolio during the second quarter ended June 30, as buyers remained cautious about overall credit-union health, according to AssetExchange, a Portland, Ore.-based credit-union card broker.

Obopay Inc. is trying to simplify its payments system with text messages.

Moody's Investors Service reports that U.S. credit card delinquencies fell in August as the six top issuers posted improved numbers, according to Bloomberg News.

Citigroup Inc.'s renewed private-label card partnership with Zale Corp. requires the jewelry retailer to meet significantly lower credit card sales volumes.