For many banks, arbitration, which on its surface appears to be a viable economic alternative to litigation in customer-fee disputes, has turned out instead for many banks to create a litigation nightmare. As a result, many credit card issuers in particular have dropped arbitration clauses...
Yesterday, Governor Jerry Brown signed a law, passed by the California legislature, which reversed an earlier law—seriously—that said you could only conduct transactions in California with greenbacks. No pesos, Canadian dollars, city currencies, reward points, and yes—no bitcoins, dogecoins, or any other cryptocurrency either. As...
Intuit is “PayWithCoin” enabling small biz and the CFPB is giving this crypto currency a look-see. One family is taking its vacation this summer to places that only accept BTC but you’ll need cold hard cash to buy any of the stash seized by the...
The improving U.S. economy is having a positive effect on personal savings as well as wages and salaries, new government data show. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
The U.S. Food and Drug Administration is considering new rules that will effect how food products are hauled long distance. The new regs have some fleet owners sweating, as the new requirements around refrigerating food, cleaning vehicles between loads, and food protection during transportation will...
Earlier this week, Capital One was told for the third time that national banking regulations don’t protect it from a class action over allegedly illegal overdraft fee practices. A federal judge found that a recent Ninth Circuit preemption decision does not stop the account holders’...
In a bid to protect banks from the ever-growing cyber security threats, the Federal Institutions Examination Council (FFIEC) has launched a new program to assess the security readiness of 500 community banks against cyber attacks. Get the Full Story Complete the form to unlock this...
No matter how many puppets a company puts in the television advertisements that claim a company is about “straight-talking money,” it is almost impossible to convince regulators of a tendency to be straight about money if collecting on debts through letters from made-up law firms in...
Back in March 2013, PNC Financial Services Group sued Houston Casualty Co. and Axis Insurance Co. over previously filed class action lawsuits concerning overdraft charges. PNC claimed the class actions had cost it more than the $25 million retention limits required by each policy. However, the...
