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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. The new Maryland matter demonstrates that participants in bank model programs continue to face state licensing threats.

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Neiman Marcus Agrees To Pay $1.5M To Settle Payment Card Breach

PYMNTS

The Maryland Attorney General Brian Frosh announced Tuesday (Jan. 8) that his office, as well as 42 other state attorney generals, have settled with Neiman Marcus over a 2013 breach of customer payment card data at 77 of the retailer’s stores. In a press release , the Maryland AG said Neiman Marcus agreed to pay $1.5

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Mega Millions Winning Ticket Could Come Via Payment Card Tonight

PYMNTS

Payment cards could play a role in making somebody, or a group of people, insanely wealthy tonight via the $1.6 According to reports, 32 states allow consumers to use at least some combination of credit, debit and gift card to buy tickets for that lottery. billion Mega Millions drawing scheduled for 11 p.m. ET Tuesday night (Oct.

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WEX Extends Fuel Card Contract With Sheetz

PYMNTS

announced a 10-year extension of its fleet fuel card contract with convenience chain retailer Sheetz, Inc., WEX supports the Private Label, Universal and Tri-Brand fleet cards available at Sheetz, which can be used to purchase gasoline at store locations. On Wednesday (Oct. 18), payment solutions company WEX, Inc.,

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Retail Pulse: Framebridge Opens DC Store; Starbucks Hits 30,000-Location Milestone

PYMNTS

and Bethesda, Maryland, that will work to mirror the company’s online experience. location reportedly opened Tuesday (March 19), with the Maryland store to come next month. On another note, retailers like Costco and Target are increasing their own sales quicker than those of iconic American names. “You

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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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FinTech Affirm Raises $500M In Latest Funding Round

PYMNTS

and Canadian consumers an alternative to traditional credit cards. The funding initiative was led by returning investor GIC, a wealth fund established by the Singapore government, and Durable Capital Partners, a Maryland investment company, the release stated. Affirm said in the release that it provides more than 5.6 million U.S.