Justice Department representatives and bank regulators got a scolding Tuesday as a House Financial Services Subcommittee grilled them on Operation Choke Point. They defended the crackdown as necessary for consumers; but some Members of Congress really begged to differ.
Pop quiz. How does Apple make money? Selling hardware. Very good. So, is anyone really surprised that it may have its own plans to sell its own iBeacon transmitter? Well, recent filings with the Federal Communications Commission would suggest that is exactly what’s on the...
Times have changed since Discover and American Express both helped the U.S. Justice Department prove its case that Visa and MasterCard exerted too much competitive influence in the card market by preventing banks from issuing cards carrying their brand marks. Now Discover has turned against...
According to the U.S. Federal Trade Commission, to purchase an app, one must be able to offer informed consent. 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...
In the latest of a string of decisions that have gone against the short-term “payday” loan industry, the Community Financial Protection Bureau (CFPB) has fined ACE Cash Express $5 million for predatory loan practices. The settlement also include $5 million that ACE is to payout...
Just two days before it’s planned launch in Brooklyn and Queens, Lyft—the ridesharing app—received word that their service is in violation of local taxi ordinances and as such is illegal and unwelcome in the Big Apple. Get the Full Story Complete the form to unlock...
As the number of people receiving their income tax return by direct deposit has grown, the number of identity thieves with an aspiration to steal those tax returns grown with it. Faced with millions lost to tax return fraud, the Internal Revenue Service has a...
Amazon, it seems, has just said no to the Federal Trade Commission in regards to the federal agency’s request that the eCommerce mega-retailer update some of its policies regarding in-app purchases. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Uber has won a round in its ongoing battle with licensed taxi services around the world. 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...
