International card processor First Data Corp announced that its measure of consumer spending on their debit and credit card was soft in June, indicating that consumers are still not returning vigorously to the market.

According to the FDIC, credit union owned Town North Bank had a tier one capital ratio of only 4.05% as of March 31, the last quarter before the bank sold its card processing division, TNB Card Services.

The Fair Isaac Corporation has released a revamped edition of its debt collection software that the data company said will be easier and less expensive to deploy and use.

MasterCard International has released a new app for the iPhone that will allow MasterCard holders to access the brands shopping platform, MasterCard MarketPlace Overwhelming Offers, from their cellular phones.

Death and taxes kept the effort to reform the nation's financial industry regulations from passage last week as the unexpected exit of the longest serving U.S. senator confused and delayed the bill's supporters.

The National Consumer Law Center and Consumers Union have urged the NCUA to crack down on what they charge are overly expensive credit union branded payday loan products.

Town North Bank, a credit union-owned bank, has sold its card processing division to Fifth Third Card Processing.

Credit union owned Town North Bank got out of the card processing business to streamline its operations and restore some lost capital, according to its CEO Steve McDonald.