Inevitably, Equifax’s CEO Richard Smith has left his post. For the credit bureau's sake, let's hope it has a long-term plan that's better than promoting from within.
Beginning in July, data on tax liens and civil judgments will no longer be included as part of the standard consumer credit report issued from all three major bureaus.
Richard Smith has resigned from the embattled Atlanta credit reporting company and will be replaced by Paulino do Rego Barros Jr., a seven-year company veteran. Board member Mark Feidler, a former telecom executive, was named nonexecutive chairman.
The recent Equifax hack isn't believed to be an inside job, but it may give life to a new rash of insider thefts if fraudsters seek to do more with the data they obtained in the breach.
Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Swarovski supports Masterpass payments; Fitbit debuts payments app; Pinterest collaborates with Target for photo shopping; Aussie banks drop ATM fees.
Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators.
Until recently, many of the fraud prevention tactics employed by organizations have added to, not reduced, customer friction across the buying cycle, writes Michael Lynch, chief strategy officer at InAuth.
The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.
In post-hurricane San Juan on Monday, commerce picked up ever so slightly. With a little effort, you could get the basics and sometimes more: diapers, medicine, or even a gourmet hamburger smothered in fried onions and gorgonzola cheese. But almost impossible to find was a place that accepted credit cards.
Until recently, many of the fraud prevention tactics employed by organizations have added to, not reduced, customer friction across the buying cycle, writes Michael Lynch, chief strategy officer at InAuth.
The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.
Electronic payments offer hospitals and practices a quicker, more efficient, trackable and safer way to collect, writes Jeffrey Brown, president of VPay.
SourceMedia's PayThink conference is an annual gathering of key decision-makers in the financial services and payments industries. This year's event, which took place in Phoenix this September, brought several key ideas to light.
While the payments industry may believe a "breach fatigue" has set in, it may have been the expectation of a cowed and apathetic public that partly led to Equifax’s maligned response after its data breach was finally made public.
This issue looks at how innovation at the gas pump is driving technology developments throughout the payments industry. To get the magazine, please contact Customer Service at help@sourcemedia.com or 212-803-8500
Feedzai’s CTO, Paulo Marques, explains why he hasn’t seen an organization succeed yet. In this report, he dispells some of the myths around building a machine learning system, from his vantage point at the helm of an organization that has spent years to build the most advanced machine learning for risk.
In the digital banking era, a transformation is taking place with financial institutions offering new, and more convenient digital channels and services.
