Card Issuers Get Combative as Target Breach Settlement Unravels
The proposed $19 million settlement to cover financial institutions' losses from the Target data breach in 2013 has failed, and financial institutions believe public data security fears provide a strong hand in future talks.  more »
Identity thieves stole information on 104,000 U.S. taxpayers from the IRS website and used the data to file fake tax returns that yielded as much as $50 million in refunds, agency Commissioner John Koskinen said. more »
Federal courts in New York and Georgia halted three debt collection operations that allegedly violated federal law by tricking and threatening consumers via emails, text messages and phone calls. more »
The Consumer Financial Protection Bureau on Tuesday cited PayPal for illegally signing up consumers for online credit, the agency announced. more »
Interactive Intelligence Group Inc., a global provider of collaboration, communications and customer engagement software and cloud services, has released Interaction Collector for Student Loans. more »
HIGH STAKES: "This issue goes far beyond banking and may impact all Americans," said Kate Larson, regulatory counsel for the Consumer Bankers Association, about its petition for liability relief under the Telephone Consumer Protection Act.
A $10.2 million settlement of a class action involving JPMorgan Chase has stoked the interest of banking industry and consumer groups in new rules for placing robo-calls. more »
Banks hurt by the Target data breach two years ago will not be able to block a settlement they consider unfair, a judge ruled Thursday. more »
Bank of America pops up in Friday's news for several reasons, including an article revealing the bank and JPMorgan Chase agreed to scrape debts discharged in bankruptcy from consumers' credit reports within the next three months. The move comes in response to a set of lawsuits. more »
Two House Financial Services Committee members introduced a bipartisan bill late last week that is designed to give lenders breathing room when new disclosure rules go into effect on Aug. 1. more »
Offering consumers more extensive ways to shop and pay whenever, wherever and however has become a competitive advantage for retailers. more »
A former JPMorgan Chase employee was arrested by the FBI on charges of stealing customer data and trying to sell it to an undercover informant for tens of thousands of dollars. more »
AT&T and Verizon aren’t doing enough to protect customers from robocalls, according to Consumers Union, the policy and advocacy arm of Consumer Reports. more »
HSBC has informed New Hampshire's Attorney General of a compromise of some records of current and former mortgage customers of its HSBC Finance unit. more »

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