Gotchas / Consumer

Pawn shop chain drops payday lending business after investigation of in-person debt collection visits

A short-term, high-cost lender that tried to collect debts by in-person visits at borrowers’ homes and workplaces has ceased dealing in payday loans, and about 200,000 consumers will get refunds or debt collection relief, federal regulators said Wednesday. Austin-based EZCORP is accused of potentially revealing details about consumers’ debts to third parties during [Keep reading]

Gotchas / Consumer

Survey: Some consumers are avoiding stores that require chip credit card payment

Some consumers are so annoyed by the new chip-enabled credit cards that they’ve begun avoiding stores that require them, a survey from Mercator Advisory Group, a payment industry research firm, claims. That’s an unwanted headache for small business owners, especially those fighting for shoppers during the busy holiday season. The “avoiders” group is small but [Keep reading]