First Data: Fiserv unit to pay FTC $40M in settlement over business practices

First Data Merchant Services, which Brookfield-based Fiserv Inc. acquired in 2019, is paying $40 million to the Federal Trade Commission as part of settlement related to events that took place several years ago, according to an announcement from the company. The settlement stems from charges by the FTC that alleged First Data was "knowingly involved in payment processing and credit card laundering for scams that harmed hundreds of thousands of consumers," according to Reuters. Per Fiserv's announcement,...