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Another Maryland threat to bank partner model lending

CFPB Monitor

A Maryland administrative action recently removed to the state’s federal district court illustrates how Maryland law continues to present challenges for the bank partner structure used by many lenders. Atlanticus/Fortiva performs all of the collections, servicing, payment and remittance operations in connection with the accounts.

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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

Synchrony Financial said a message was erroneously sent to customers about an Amazon.com card and that a data breach had not occurred, according to a report by Reuters. On Monday (Nov. 26), a notification was sent to some customers saying “a trial deposit has been successfully made to your Amazon credit builder.”

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Mastercard, Instacart To Provide Grocery Delivery Benefits To Cardholders

PYMNTS

The feature is also available for debit, small business and prepaid card users, according to the announcement. In August, Walmart partnered with Instacart to offer same-day delivery across select markets in the U.S. Starting Thursday (Oct. A Mastercard is required as the default payment method. Florida; and Texas.

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CFPB files lawsuit against debt-relief and credit-repair company and its owners and executives

CFPB Monitor

On June 29, 2021, the CFPB and the Attorney General of the State of Georgia filed a proposed order in connection with a joint lawsuit they filed a day earlier in federal district court in Georgia against Maryland-based debt-relief and credit-repair company Burlington Financial Group (“Burlington”) and three individual owners and executives.

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How to respond to buy now, pay later

Independent Banker

Consumers are increasingly interested in buy now, pay later products, which are cutting into credit card usage. For example, BNPL product credit rate disclosures are not included under Truth in Lending Act requirements, and while some disclosures are provided, they may not be as clear as those for credit cards. By Colleen Morrison.

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Deep Dive: Digital ID Developments From Around The World

PYMNTS

Several markets are beginning to deploy or have already introduced biometrics to their national identification systems for a wide range of purposes. The country’s Department of Home Affairs (DHA) launched a national identity card in 2013 that includes fingerprint authentication on top of a standard PIN. It might not be long before U.S.

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