Customers deserve the same level of protection whether they do business with nonbank payment startups or banks, ABA President and CEO Frank Keating said in an American Banker op-ed today. Keating was responding to arguments by former Treasury Secretary Larry Summers that nonbanks are at a regulatory disadvantage. “Banks provide extensive protections to consumers on
Balances held in Google Wallet — the mobile payment service offered by the California tech giant — will now be protected by federal deposit insurance, according to press reports this week.
Will 90 percent of MasterCard-issuing financial institutions accept the network’s settlement with Target?
MasterCard and Target today announced a $19 million settlement of claims by MasterCard and its card issuers related to losses from Target’s 2013 data breach.
The Consumer Financial Protection Bureau today finalized a rule that would suspend the requirement for credit card issuers to submit card agreements to the bureau while it develops a more streamlined automated submission system.
The Consumer Financial Protection Bureau yesterday announced it had filed a lawsuit against several individuals and companies involved in what it said was a robo-calling phantom debt collection operation.
Circuits are split on the constitutionality of laws prohibiting merchants from imposing a surcharge on customers for using a credit card.