JPMorgan Chase & Co.’s Card, Merchant Services & Auto unit on April 11 reported a 4 percent drop in net revenue for the first quarter ended March 31, to $4.5 billion. Net income also was down, by 15 percent, to $1.1 billion, driven by lower...
A U.S. District Court judge on April 10 dismissed litigation accusing three leading card issuers of colluding to require cardholders to enter into arbitration to settle disputes instead of class-action litigation. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Several Russian banks were recently denied services by Visa and MasterCard, and now the general public is concerned about the country’s financial situation, according to RIA Novosti. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
The Consumer Financial Protection Bureau (CFPB) on April 9 ordered Bank of America Corp. (BofA) to provide an estimated $727 million in relief to roughly 1.4 million consumers it says were harmed by deceptive marketing related to controversial credit card add-on products. BofA also illegally...
A program run between 115 Japanese supermarkets and convenience stores to share biometric customer face data has drawn criticism for offering a wide variety of possible customers’ rights abuses. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Currently 46-states have passed data-breach legislation and New Mexico is heading toward being the 47th. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...
Australia’s Security and Investment Commission (ASIC) has recently publicized concerns that businesses are overcharging for credit card transactions because policing such behavior has slipped between the cracks between two regulatory bodies. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Speaking before a Congressional panel yesterday, U.S. Attorney General Eric Holder told the assembled that bitcoin, and other virtual currencies like it, represent new risks when it comes to money laundering and other criminal pastimes. Get the Full Story Complete the form to unlock this...
Embattled bitcoin exchange CEO Mark Karpeles has been ordered by a federal judge to appear in Dallas on April 17 to explain how his company lost at least $400 million worth of customer deposits. Get the Full Story Complete the form to unlock this article and enjoy...
