The Federal Trade Commission (FTC) announced Friday that enforcement actions over the past year have returned $6.4 billion to consumers. In a press release, the FTC said that of the $6.4 billion consumers received in refunds, $391 million was sent directly to 6.28 million consumers....
The Federal Reserve announced today that it is reviewing 19 proposals from two task forces from the national payment industry with the goal of introducing a faster payments system in the U.S. A two-part report on the work and suggestions of the task forces will...
Shazam, a four-decade old financial services company, released a new feature yesterday (Feb. 5) to its Shazam Bolts app that gives debit card users access to person-to-person money transfers, as well as a GPS function that enables U.S. cardholders to find fee-free ATMs. Already established as a...
The days of old school wire transfers may be numbered, as Western Union announced yesterday (Jan. 27) it will now accept Apple Pay at its “flagship locations” and affiliated outlets. The decision comes after internal surveys showed that migrants — the major demographic of Western...
With Alibaba last week having gone through the largest initial public offering in U.S. history, expect continued growth in international eCommerce trade coming out of China. Alibaba already is saying it wants to create more online sales between China and other Asian businesses and consumers,...
U.S. consumers who conducted holiday shopping at Amazon or L.L. Bean were the most likely to be satisfied with their experience this past holiday season, ForeSee’s newly published E-Retail Satisfaction Index indicates. Released on Jan. 7, the 61-page report drew from more than 67,000 customer...
US Bank released a YouTube video on December 16, revealing that the bank is developing an instant shopping app. The app allows consumers to take a picture of a product in a magazine or on TV and, after searching for it, finalize a purchase. Users...
At this point, it’s safe to say that EMV isn’t exactly a sexy solution. The standard put in place by Europay, MasterCard and Visa in the 2000s as a way to fight fraud at the physical point of sale has lost much of its luster...
The Consumer Financial Protection Bureau (CFPB) has announced that it is ordering GE Capital Retail Bank to refund $34.1 million to CareCredit medical credit card customers due to what it called deceptive enrollment tactics, The New York Times reported on December 10. The media outlet...
