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- The Consumer Financial Protection Bureau sued credit reporting agency Experian over claims it unlawfully failed to properly investigate consumer disputes. In a statement, Experian says the lawsuit is without merit. “It is contrary to longstanding regulatory and judicial precedent and is another example of irresponsible overreach by the CFPB. Our legal position is strong, we will defend it vigorously and are confident we will prevail. We do not expect this to have any material impact on our business,” its statement said.
- In 2024, 48% of U.S. consumers carried a credit card balance in November, found the State of Credit Card Debt report from Bankrate, compared with 50% this past June and 49% in November 2023.
- Fintech Spring Financial released its Bloom financial services app in Canada. The app uses artificial intelligence to help users with banking, spending, and budgeting decisions.
- Rain Technology, a technology provider for point-of-sale terminals, announced the introduction this month of POS Switchable Privacy, Display Screen Branding, and availability of terminals through a partnership with Datecs, a device maker. Switchable Privacy aims to protect consumers from hackers viewing terminal inputs.
- Aisin Corp. will integrate payments capability in its infotainment system for cars through a partnership with Sheeva.AI, an in-car commerce service.
- Oracle Corp. said construction payments made to subcontractors recently surpassed the $1 trillion mark via its Oracle Textura Payment Management Cloud Service, which launched in 2006.
- Bitcoin Depot Inc., a Bitcoin ATM deployer, said it has installed 50 machines for an unnamed convenience-store operator in Texas and surrounding states. Bitcoin Depot says it now has 8,486 cash-to-Bitcoin machines in place in 48 states.
- Diallo Gordon has been appointed president of Pavilion Payments, a specialist in payments for the gaming industry. Gordon previously was chief executive of Passport Technology Inc.
- Fintech Skipify said Cindy Turner, chief product officer at Worldpay, joined its board as a strategic advisor and observer.
- Chad Gaydos has been named chief executive of Procurify, a provider of payments technology, succeeding co-founder Aman Mann, who becomes chief strategy officer. Gaydos most recently was president of Total Expert.
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