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Diversified Financials Consumer Finance

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  • PayPal expands 'One Touch' payments Wednesday, 26 Aug 2015 | 6:00 AM ET
    PayPal expands 'One Touch' payments

    Paypal expands in 13 global markets as mobile payment market continues to grow.

  • NEW YORK, Aug 24- Hey, remember that newsletter that let you sign up for a free trial? How about that old domain name you registered, or your kid's gaming membership, or the magazine subscription that was initially offered as a freebie. "Nine out of 10 people don't check their credit-card charges carefully," says Mick Weinstein, vice president of software company...

  • Pension advance firms cheat retirees -U.S. lawsuit Thursday, 20 Aug 2015 | 3:00 PM ET

    The lawsuit against Pension Funding LLC and Pension Income LLC was brought by the U.S. Consumer Financial Protection Bureau and the New York State Department of Financial Services. It accused the California- base companies and their principals of duping older Americans, mainly through online pitches, from 2011 through last December into redirecting...

  • WASHINGTON— Federal and New York regulators have sued two companies that make loans against retirees' pensions, saying they deceived consumers about the high rates of the loans. Regulators say that the companies, Pension Funding LLC and Pension Income LLC, used deceptive marketing tactics to target the pensions of seniors and military personnel.

  • Key factors to consider on interest-only mortgages Wednesday, 19 Aug 2015 | 4:16 PM ET

    Don't call it a comeback. Interest-only mortgages got a bad reputation in the aftermath of the housing bust, but they've managed to stick around as an option for homebuyers who can meet stricter lending guidelines enacted by the government in recent years. As a result, such interest-only loans now make up only about 0.2 percent of all adjustable-rate mortgages,...

  • Target in deal to settle breach claims with Visa Wednesday, 19 Aug 2015 | 8:24 AM ET
    A Target store in Edgewater, N.J.

    Target reached a deal to pay up to $67 million to settle Visa claims related to a 2013 data breach that resulted in the debit and credit card theft.

  • American Express adds cash back to Serve prepaid cards Wednesday, 19 Aug 2015 | 12:05 AM ET

    NEW YORK— American Express is adding cash back, a popular credit card feature, to its prepaid debit cards as it seeks users beyond its traditional customers. CEO Kenneth Chernault has said American Express would spend heavily this year to create new products and keep its already existing customer base. The monthly fee will be $5.95, so you have to spend roughly...

  • U.S. consumers have $1 trillion of automobile loans outstanding, up from about $700 billion in the first quarter of 2010, according to data from the New York Federal Reserve. The fourth-largest U.S. bank has 56 branches for car and dealer financing, including one it recently opened in Cherry Hill, New Jersey, said Dawn Martin Harp, head of dealer services.

  • Target reaches deal to settle breach claims with Visa Tuesday, 18 Aug 2015 | 1:03 PM ET

    NEW YORK— Target has reached a deal to pay up to $67 million to settle Visa claims related to a massive 2013 data breach that resulted in the theft of millions of debit and credit card numbers. Both Target Corp. and Visa Inc. confirmed the agreement Tuesday, but wouldn't put a dollar amount on the deal. Unlike a $19 million agreement between Target and MasterCard...

  • CREDIT CARD BALANCES INCREASE 19 BLN IN Q2 TO 703 BLN- NY FED.

  • WASHINGTON, Aug 12- The U.S. Federal Trade Commission said on Wednesday it charged a data broker operation with selling payday loan applicants' financial information to scammers who took in millions of dollars by debiting bank accounts and charging credit cards. The data brokers bought the loan applications and, instead of passing them to legitimate payday...

  • U.S. charges data brokers in $7 million payday loan scam Wednesday, 12 Aug 2015 | 11:39 AM ET

    WASHINGTON, Aug 12- The U.S. Federal Trade Commission said on Wednesday it charged a data broker outfit with selling payday loan applicants' financial information to scammers who took in millions of dollars by debiting bank accounts and charging credit cards. The data brokers bought the loan applications and, instead of passing them to legitimate payday...

  • Aug 11- General Electric Co said it would sell its U.S. healthcare finance unit to credit card lender Capital One Financial Corp for about $9 billion. Citigroup Global Markets and J.P. Morgan Securities LLC advised GE and Hogan Lovells US LLP was the legal adviser. Credit Suisse and Wells Fargo Securities were financial advisers to Capital One and Wachtell,...

  • Aug 7- Activist hedge fund ValueAct Capital Management LP has built a $1 billion stake in American Express Co and is seeking "shareholder-friendly" changes at the credit card company, Bloomberg reported on Friday. American Express is not yet a core active target of ValueAct, Bloomberg said, citing people with knowledge of the matter. However, the fund could sell...

  • Aug 6- Credit card lender Capital One Financial Corp is in exclusive talks to acquire General Electric Co's U.S. healthcare finance unit, in a deal likely to top $10 billion, according to people familiar with the matter. The potential deal could bulk up Capital One's existing healthcare lending operations and bring GE one step closer to achieving its target of...

  • Aug 6- Credit card lender Capital One Financial Corp is in exclusive talks to acquire General Electric Co's U.S. healthcare finance unit, in a deal likely to top $10 billion, according to people familiar with the matter. Capital One has outbid other potential buyers in an auction for the unit, the people said on Thursday, cautioning that the negotiations are...

  • July 30- Western Union Co reported a better-than-expected quarterly profit, boosted by its online business, and the world's largest money-transfer company raised its full-year earnings forecast. Western Union said revenue from its online business, including westernunion.com and mobile money transfer, rose 19 percent in the second quarter ended June 30.

  • July 30- Western Union Co, the world's largest money-transfer company, reported a better-than-expected quarterly profit, helped by strength in its digital business. Western Union said revenue from its digital business, including westernunion.com and mobile money transfer, rose 19 percent in the second quarter ended June 30. Western Union has invested...

  • July 28- Paymap Inc, a unit of Western Union Co, agreed to pay $38.4 million to settle U.S. regulatory charges that it deceived consumers into signing up for a program advertised as a way to help them pay off their mortgages faster and save on interest payments. The U.S. Consumer Financial Protection Bureau on Tuesday said Paymap, a payment processor, will pay a $5...