Consumer Financial Protection Bureau details incidents of “unscrupulous lenders” not honoring Electronic Fund Transfer Act.
A new Aité Group report says cash is more expensive for retailers than cards. Retailer groups disagree.
Payments innovator writes feds in opposition to proposed tiered Internet.
Cloud security pioneer says standard may not be sufficient for future breach schemes.
A consumer coalition voiced support to federal financial regulators attempts to prevent payday lenders from using the electronic check system to debit their customer's checking accounts for loan payments.
Group of groups call for regulator attention to payday lenders using automatic check debits.
Industry observers and executives with other processing companies predict that the recent supervisory letter on FIS security problems may have a limited impact on FIS’ sales but will likely heighten the importance of security for all payments processors.
Agency sources call "ridiculous" the idea that regulator was trying to drive credit unions away from processing with FIS.
Visa USA has reported that U.S. financial institutions have issued more than one million credit and debit cards that use information on embedded computer chips to validate transactions instead of magnetic stripe technology.
Visa will offer a dual debit interchange schedule that network sources say should allow credit unions and other smaller asset