Banking: Page 7
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Struggling businesses pile on credit card debt, survey shows
Nearly two-thirds of financially unhealthy businesses fail to pay their monthly credit card bill in full, the results of a marketing research survey showed.
By Patrick Cooley • Dec. 9, 2024 -
Courtesy of Comerica
CFPB sues Comerica for ‘systematically failing’ federal benefits receivers
The federal agency alleged the bank fell short of its responsibility to some 3.4 million cardholders who depend on receiving federal benefits through prepaid debit cards.
By Gabrielle Saulsbery • Dec. 9, 2024 -
Explore the Trendline➔
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TrendlineE-commerce drives digital payment advances
As e-commerce activity continues to climb, providers of digital payment tools are likely to keep evolving their online offerings.
By Payments Dive staff -
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Q&AKeeping cash may be critical for a resilient payment system
Climate change, wars and societal benefits should lead the U.S. to maintain greenbacks as an alternative to electronic money, one business professor argues, but he’s worried about preserving it.
By Lynne Marek • Dec. 9, 2024 -
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Crypto leaders have knives out for attorneys leaving the SEC
Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.
By Robert Freedman • Dec. 6, 2024 -
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RTP limit to rise to $10M for 2025
The Clearing House's move to increase to $10 million the amount that can be sent over its real-time network may attract more corporate use of the system.
By Tatiana Walk-Morris • Dec. 6, 2024 -
Caitlin Mullen/Payments Dive, data from Fiserv
Fiserv CEO tapped to lead Social Security Administration
President-elect Trump announced the nomination of Frank Bisignano late Wednesday, and the payments processor confirmed the appointment Thursday.
By Lynne Marek • Dec. 5, 2024 -
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PayPal targets higher Braintree pricing
The digital payments pioneer is attempting to develop a more profitable unbranded business line, the company's CFO said at an investor conference this week.
By Suman Bhattacharyya • Dec. 5, 2024 -
Chip Somodevilla via Getty Images
FedNow racks up nearly $246M in annual expenses
The Federal Reserve projects the real-time payment system’s costs will climb slightly next year, from the $245.5 million it expects to spend this year.
By Lynne Marek • Dec. 4, 2024 -
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Global Payments spots 6 trends for next year
The payments processor predicts fraud-fighting tools, embedded payments and comprehensive point-of-sale systems will be center stage in 2025.
By Tatiana Walk-Morris • Dec. 4, 2024 -
Anna Moneymaker via Getty Images
CFPB proposes rule to rein in data brokers’ sale of consumer information
With the proposal, the federal agency aims to crack down on fraudsters and others seeking to use sensitive personal information for illicit activities.
By Lynne Marek • Dec. 3, 2024 -
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Musk calls for end to CFPB
The presumed Trump Cabinet appointee said there “are too many duplicative regulatory agencies,” calling out the consumer watchdog specifically Wednesday.
By Gabrielle Saulsbery • Dec. 2, 2024 -
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Consumers grab credit cards for holiday shopping
Credit card debt will not slow shoppers down as they spend for the holidays, according to a new survey of U.S. consumers.
By Tatiana Walk-Morris • Dec. 2, 2024 -
Lynne Marek/Payments Dive
Credit card delinquencies mount, Fed says
Consumers’ credit card delinquencies have risen this year, along with their balances, according to an annual Federal Reserve Board report.
By Lynne Marek • Nov. 27, 2024 -
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Democrats bash CapOne-Discover merger proposal
A group of Congress members told federal regulators to consider Capital One’s regulatory infractions in reviewing its proposed acquisition.
By Patrick Cooley • Nov. 26, 2024 -
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Q&AEx-PayPal CEO opines on everything from crypto to Cobol
Bill Harris, who briefly led the payments pioneer, talks about the U.S. lagging in payments innovation, and the potential of stablecoins.
By Lynne Marek • Nov. 26, 2024 -
Justin Sullivan via Getty Images
Visa to boost credit card fees next year
The network is expected to increase some fees it charges for credit card payments, according to a notice referenced during a Senate hearing last week.
By Lynne Marek • Nov. 25, 2024 -
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Real-time payments scams rise
More people are falling for real-time payment scams as the use of such speedy systems increases, a FICO survey showed.
By Patrick Cooley • Nov. 22, 2024 -
Lynne Marek/Payments Dive
Richmond Fed seeks more CapOne-Discover input
The regional Fed bank, which has purview for the proposed merger, demanded more information from the bank as it considers whether to approve the deal.
By Lynne Marek • Nov. 22, 2024 -
Anna Moneymaker via Getty Images
CFPB tweaks big tech payments rule
In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.
By Lynne Marek • Nov. 21, 2024 -
Sean Pavone via Getty Images
DC attorney general sues EarnIn over ‘deceptive’ marketing
The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.
By Dan Ennis • Nov. 20, 2024 -
Sean Rayford via Getty Images
OpinionHow passing the CCCA would benefit nonprofits
"Nonprofits and charities need every penny they can get to make effective change in times of crisis, yet big banks and credit card companies continue to take their cut," writes one policy analyst.
By Hassan Tyler • Nov. 20, 2024 -
Win McNamee via Getty Images
Senate grills Visa, Mastercard executives over swipe fees
Executives from the card networks were on the defensive Tuesday when members of the Senate Judiciary Committee berated them over high fees merchants must pay to accept credit card payments.
By Lynne Marek • Nov. 19, 2024 -
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State interchange fee legislation makes meager progress
As Illinois fights to preserve its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with similar legislative proposals.
By Lynne Marek • Nov. 18, 2024 -
Dan Kitwood/Getty Images News via Getty Images
OpinionPayments players should embrace digital currencies
“Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.
By Ryan Miller • Nov. 15, 2024 -
Courtesy of Uber
Mastercard aims to cancel manual card entry by 2030
The card network has documented a spike in online fraud, and contends that numberless cards will reduce such wrongdoing.
By Tatiana Walk-Morris • Nov. 15, 2024
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