Senate Finance Committee Chairman Max Baucus proposed enacting tougher penalties against identity theft committed through the tax system, expanding electronic tax filing and giving the U.S. Internal Revenue Service clear authority to regulate tax preparers.
Republican lawmakers criticized potential security flaws in the U.S. health exchanges as Obama administration officials said they have made protecting customer privacy a top priority in their efforts to fix the website.
Bank of America Corp. is negotiating with the Consumer Financial Protection Bureau to settle allegations it deceived customers in the sales of credit-card add-on products, according to two people briefed on the talks.
HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc will pay partial settlements to small businesses over losses on improperly-sold interest-rate swaps to speed up the compensation process.
Mohanlal Kapoor, a street vendor in north India, holds a card entitling him to subsidized food for his wife and four children. To get supplies, the Kapoors must battle an estimated 15 million families in their state toting similar pieces of paper that they’re not entitled to.
In Stockholm, the homeless now accept credit cards, Bloomberg News reports. Sweden’s high-tech economy has made bills and coins almost obsolete, so equipping the destitute with card readers -- a world first, apparently -- was a natural evolution.