Capital One is moving Discover credit card accounts onto its servicing systems, but that transition is not a blanket shutdown of Discover cards. The company is retaining the Discover brand while changing where customers log in, make payments and manage ...

The Federal Trade Commission is close to sending investigative demands to frontier AI companies, a senior agency official told Semafor — a sign that its AI probe is moving forward after its unusual disclosure to the public. The FTC's planned ...

Debt collection lawsuits are climbing in the states researchers track, and creditors frequently prevail when consumers fail to respond. The trend is bringing more unpaid accounts into the legal system while increasing scrutiny of how collection cases are filed, documented ...

Saying that taking action against payment processors is an effective way to reach foreign and domestic businesses that scam consumers, the FTC has announced it has settled with two such processors, Nuvei and Humboldt Merchant Services. “Payment processors are crucial ...

American families are sitting on record household wealth while quietly falling behind on their monthly bills, and the Federal Reserve's latest research reveals a troubling disconnect that growing asset values cannot fix. This post may contain links from our sponsors ...

The Office of the Comptroller of the Currency has launched a new tool allowing community bankers to report suspected payments fraud involving OCC-regulated institutions directly to an agency fraud task force, adding a new reporting channel to its efforts to ...

The Federal Trade Commission will distribute more than $15.8 million to over 2.1 million customers of cash advance app Cleo AI, following allegations that the company misrepresented how much money consumers could receive, how quickly advances would arrive and how ...

Nearly one in five U.S. families reported being behind on loan payments in the Federal Reserve’s latest Survey of Consumer Finances, underscoring a deterioration in household repayment performance since 2022 and presenting new challenges for creditors and collection agencies. The ...

On September 24, the CFPB urged the U.S. Court of Appeals for the 7th Circuit to affirm a district court judgment of more than $43 million against a defunct student-loan debt-relief telemarketer and its operator, arguing that the operator’s arguments ...