In blocking the Google Wallet software from running on the new Samsung Galaxy Nexus, Verizon Wireless said Tuesday that it was waiting to provide a wallet application that offers “the best security and user experience.” Verizon and rivals AT&T; Inc. and T-Mobile USA are part of a consortium called ISIS that is planning its own payment system.
The new smartphone is the latest iteration of the Nexus line, which showcases new features and capabilities for phones running Google’s Android software. In this case, the phone is the first to run a new version of Android, dubbed “Ice Cream Sandwich.”
The previous Nexus phone, sold by Sprint Nextel Corp., is the only phone yet to work with the Google Wallet application. That means the phone can be used to pay for purchases in some stores, by tapping it to payment terminals. Sprint is not part of ISIS.
State requests hearing
into GMAC Mortgage
Massachusetts is calling for a congressional hearing on GMAC Mortgage, a division of Ally Financial, claiming that the taxpayer-owned bank is illegally foreclosing on people’s homes in the state.
Massachusetts sued GMAC Mortgage and four other banks last week, saying they engaged in deceptive foreclosure practices. A day after the lawsuit was filed, GMAC Mortgage said it would stop much of its mortgage lending business in the state.
Ally Financial is 74 percent owned by American taxpayers after being bailed out by the government during the 2008 financial crisis.
In a letter to the U.S. House Committee on Financial Services, Massachusetts Attorney General Martha Coakley said Ally Financial’s subsidiary GMAC had broken laws by cutting corners while foreclosing on homes, which has exacerbated the nation’s foreclosure crisis.