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  • NEW YORK, May 20- When Saideh Browne had an emergency appendectomy in the summer of 2012, she had no idea it would raise the cost of a car loan three years later. The 44- year-old personal trainer from New York recently visited a dealership to buy a new Honda Accord and discovered her credit score had been dinged by two lingering medical bills for $770 that had gone to...

  • In the Wireless& Cashless module provided as part of Money& Markets Extra for the week ending Saturday, May 9, The Associated Press reported erroneously that the only bank using Zumigo's credit card fraud protection services so far is Wells Fargo. Ever had your credit card go on a tour of Europe while you were at home in the U.S.? It also scoops up credit history data...

  • PayPal facing $25M sanction for illegal credit sign-ups Tuesday, 19 May 2015 | 12:33 PM ET

    WASHINGTON— Federal regulators are proposing that PayPal Inc. pay $25 million to resolve allegations that it illegally signed up customers for its online credit product, used misleading advertising and mishandled billing disputes. If the order is approved by a federal judge in Maryland, PayPal would refund $15 million to customers and pay a $10 million fine.

  • NEW YORK— When I realized I was paying off six different credit cards and not getting anywhere, I decided to consolidate my debt, like millions of other Americans. I visited my local bank, asked for a $15,000 loan but was offered an interest rate higher than my cards were charging. So I looked into online lenders and discovered a growing part of the sharing economy...

  • LONDON, May 15- Blue chip banks could provide a bigger stimulus to Europe's flagging economy if they pared back low-return mortgage lending to pump more firepower into small business and consumer credit, the chairman of HSBC told Reuters. Douglas Flint, boss of Europe's largest bank, said policymakers and banks needed to reconsider the "natural long-term...

  • NEW YORK— When I realized I was paying off six different credit cards and not getting anywhere, I decided to consolidate my debt, like millions of other Americans. I visited my local bank, asked for a $15,000 loan but was offered an interest rate higher than my cards were charging. So I looked into online lenders and discovered a growing part of the sharing economy...

  • WASHINGTON— When President Barack Obama huffed that Elizabeth Warren, the Massachusetts senator and established liberal star, was a "politician like everybody else" he revealed a rift that predates the current hostilities between the two Democrats over trade. Though occasional allies, Warren has been aggravating the Obama administration since her pre-...

  • Consumer agency opens review of student loan services Thursday, 14 May 2015 | 12:02 AM ET

    WASHINGTON— The Consumer Financial Protection Bureau opened a public inquiry Thursday into student loan servicing practices that it says can make paying back loans "stressful or harmful." Such service companies— among them Navient, Nelnet, American Education Services, and Great Lakes Higher Education Corp.— typically get a flat monthly fee per account.

  • *SEC says company hid information from investors, auditor. In a complaint filed in the federal court in Indianapolis, the SEC accused ITT, Chief Executive Kevin Modany and CFO Daniel Fitzpatrick of hiding how ITT expected to owe hundreds of millions of dollars because its underlying loans had performed "abysmally," with "extremely high" default rates.

  • Senate GOP readies revamp of Dodd-Frank rules Tuesday, 12 May 2015 | 12:40 PM ET

    WASHINGTON— The top Republican on the Senate Banking Committee unveiled legislation Tuesday that would ease regulatory requirements on mid-size banks and give lenders the option for greater freedom from mortgage lending rules. Richard Shelby would be the most ambitious rewrite of rules governing the financial services sector since Democrats passed...

  • WASHINGTON— Verizon Wireless will pay $90 million and Sprint $68 million to settle charges that the mobile giants allowed phony charges on their customers' monthly bills so they could keep a cut of the profit, federal regulators announced Tuesday. Verizon Wireless spokeswoman Debra Lewis said the settlement "reflects Verizon's continued focus on putting...

  • *Nationwide Biweekly Administration, owner are sued. The U.S. Consumer Financial Protection Bureau accused Nationwide Biweekly Administration Inc and its president, Daniel Lipsky, of falsely promising savings from their "Interest Minimizer" program. According to a complaint filed in San Francisco federal court, the defendants from August 2011 to September...

  • Senator Elizabeth Warren hit back at President Barack Obama in their tussle over "fast track" authorization to negotiate a Pacific Rim trade treaty, a power she says could be used in the future to weaken Wall Street reforms. The president, who wants expedited negotiating power to streamline the passage of trade deals through Congress, said last week that...

  • Senator Elizabeth Warren hit back at President Barack Obama in their tussle over "fast track" power to negotiate a Pacific Rim trade treaty, a power she says could be used in the future to weaken Wall Street reforms. "If the president is so confident it's a good deal, he should declassify the text and let people see it before asking Congress to tie its hands on fixing it,"...

  • WASHINGTON, May 9- President Barack Obama dismissed a liberal senator's warning that "fast-track" trade authorization being considered by Congress could weaken U.S. financial regulations he helped put in place after the 2007-2008 crisis that triggered the Great Recession. Senator Elizabeth Warren, long a champion of stricter rules for Wall Street, said in a...

  • WASHINGTON, May 5- One in 10 American adults have no credit history, and 8 percent are considered "unscorable" by major credit reporting agencies, a survey released on Tuesday showed. Blacks, Hispanics and low-income community residents are most likely to be among the 26 million U.S. adults absent from the credit reporting system and the 19 million with...

  • Hard Rock Hotel reports possible credit card breach Monday, 4 May 2015 | 7:26 AM ET
    Hard Rock Hotel, Chicago, Il.

    Hard Rock Hotel& Casino Las Vegas said an attack may have allowed hackers to steal credit card information used at its retail and service locations.

  • May 1- Hard Rock Hotel& Casino Las Vegas said on Friday a malware attack may have allowed hackers to steal credit card information used at its retail and service locations. The attack, discovered on April 3, was limited to credit or debit card transactions between Sept. 3, 2014 and April 2, 2015, at the company's restaurant, bar and retail locations, including the...

  • NEW YORK, April 30- Merchants unhappy with the fees American Express Co charges them may steer customers toward less expensive cards without fearing retaliation from the credit card company, a federal judge ruled on Thursday. Judge Nicholas Garaufis in Brooklyn federal court said American Express may not stop restaurants and stores, for instance, from...

  • April 30- Western Union Co said it expects pricing for its money transfer services to be at the company's "historical low single digit range" as it grapples with rising competition. Rival MoneyGram International Inc slashed prices last year after Wal-Mart Stores Inc launched its money transfer service. Western Union is facing competitive pressure in U.S....