Consumer Protection

New York regulators have initiated an investigation into a tech entrepreneur's complaint that credit limits for the new Apple Card are based on gender-biased algorithms. The investigation, announced by DFS Superintendent Linda Lacewell, apparently stems from a series of tweets David Heinemeier Hanss...

We're just a few short months away from the California Consumer Privacy Act going into effect. The regulation brings privacy rights to residents in California and gives them control of their personal information and how companies can use it. Any business that sells to a California resident needs to ...

Businesses have been using secret scores created by data brokers to determine how much to charge consumers, whether to allow purchase returns, and what level of service to offer, among other things. "Most consumers will never know when they are the victim of a secret surveillance score," noted Laura...

The Federal Trade Commission announced settlements of a series of fraudulent marketing charges against two high-profile firms. The actions taken make it clear that anyone who engages in similar illegal behavior will face enforcement action, the FTC said. In the first case, Devumi agreed to settle th...

Capital One Financial Corporation has announced a data breach affecting some 100 million people in the United States and another 6 million in Canada. The FBI arrested the alleged perpetrator of the breach in Seattle. Capital One on July 19 discovered someone had accessed its data stored online and o...

The FTC announced that Equifax has agreed to pay a minimum of $575 million as part of a global settlement of claims against it arising from a 2017 data breach that affected 147 million Americans. The settlement with the FTC, the Consumer Financial Protection Bureau, and 50 states and territories pot...

Are any of us at all surprised to learn that in just the first quarter of 2019 more than $1.2 billion worth of cryptocurrency was stolen? Probably not. This story follows the old line from bank robber Willie Sutton who is credited with saying that he robbed banks "because that's where the money is."

Flexa has launched a new digital payment network that uses cryptocurrencies to cut processing costs, eliminate fraud and preserve users' privacy. The network uses Flexa's Spedn app to process consumer transactions at cooperating merchants. The new payment platform makes it possible to spend Bitcoin,...

Long an obsession of science fiction writers, "artificial intelligence" in the modern era of fast-paced technological innovation is a term that is as ubiquitous as it is nebulous. For the payments technology industry, however, the term describes advanced analytical technology that has an outsized po...