Swedish biometrics company, Fingerprint Cards, along with IDEMIA, an "augmented identity" provider, are set to run Japan's first biometric payment card trial. Using Fingerprint's sensor technology in collaboration with IDEMIA's F.Code software to replace PIN or signature authentication, the pilot will run on Japan's payment network, aiming to prove the case for a commercial roll-out of biometric payment cards in time for the 2020 Olympic Games. A Fingerprint executive said the cards work and are processed the same way as standard contactless cards, with no upgrades required to existing acceptance infrastructure. Mick Mulvaney, appointed by President Trump as interim director of the Consumer Financial Protection Bureau, told an American Bankers Association conference on Tuesday that they should continue to lobby for restricting and diminishing the agency. The bureau was created by the 2010 Dodd-Frank Law to prevent banks and other financial companies from preying on vulnerable consumers, but Republican lawmakers view it as too aggressive in trying to punish financial firms. Since his appointment, Mulvaney has frozen all new investigations, slowed down existing inquiries, eased the pressure on payday lenders, and sharply restricted the bureau's access to bank data, arguing that its investigations created online security risks, CNBC reports. TransferWise has launched a "borderless" bank account and debit card designed to allow travellers, expats, freelancers and "global nomads" to manage cross-border income and spending, reports Finextra. Customers can hold and convert funds in over 40 global currencies, getting paid around with zero fees and using a contactless Mastercard debit card to spend. Online marketplace lending platform Lending Club has been charged by US regulators with duping consumers over hidden fees, among a "catalogue of failings", reports the FT.  The Federal Trade Commission has charged Lending Club over false promises of loans with "no hidden fees", despite an origination fee of five per cent being routinely deducted. Lending Club also allegedly falsely told potential borrowers their loan had been partially backed by investors to string them along when, in fact, their application would end up being one of many eventually rejected. The regulator also alleged that the company continued to charge customers who had cancelled automatic payments or paid off their loan entirely. Lending Club's share price, which reached US$25 not long after its IPO in late 2014, fell below US$3 with the announcement.