Regulations & Policy: Page 5
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Joe Raedle / Staff via Getty Images
CFPB swats at retail credit cards
The federal agency warned companies issuing credit cards about illegal tactics, specifically calling out promotions that turn into “bait-and-switch” offers.
By Lynne Marek • Dec. 18, 2024 -
Chris McGrath/Getty Images Europe via Getty Images
What role do stablecoins play in the payments industry?
With the discussion of stablecoins intensifying after the election of Donald Trump, here’s a primer explaining what this cryptocurrency is and what its practical uses may be.
By Patrick Cooley • Dec. 17, 2024 -
Explore the Trendline➔
toeytoey2530 via Getty Images
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 -
Drew Angerer / Staff via Getty Images
U.S. Bank CEO talks payments split
Dividing its payments unit into two segments under different leaders points to the significance of the business at the bank, said Andy Cecere, the lender’s chief executive.
By Caitlin Mullen • Dec. 16, 2024 -
Permission granted by American Express
Amex keeps focus on younger customers
The credit card company is sticking with a strategy to concentrate marketing on the millennial and Gen Z generations shaping shopping trends.
By Patrick Cooley • Dec. 16, 2024 -
Joe Raedle / Staff via Getty Images
Ex-TD employee charged in debit card case
The former worker issued dozens of cards linked to accounts opened by another TD employee in the names of shell companies, and received bribes for that work, the Justice Department alleged.
By Dan Ennis • Dec. 13, 2024 -
JHVEPhoto via Getty Images
CFPB-Google battle likely to stretch into next administration
The Consumer Financial Protection Bureau says Google’s payment unit failed to explain why it was denying customer requests for refunds. Google told the agency to back off in a lawsuit.
By Patrick Cooley • Dec. 10, 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 -
Permission granted by Fiserv
Fiserv cuts as many as 1,500 employees, analyst estimates
The payments processor confirmed it had eliminated jobs. A Wolfe Research analyst estimated the reduction may impact as much as 3.7% of the workforce.
By Patrick Cooley • Dec. 6, 2024 -
Matt Winkelmeyer / Staff via Getty Images
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 -
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 -
Courtesy of Shift4
Trump taps Shift4’s Isaacman to run NASA
The CEO of the payment and technology company has led two space missions for the private company SpaceX.
By Patrick Cooley • Dec. 4, 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 -
Cecilie Arcurs via Getty Images
Q&AWorldpay exec talks digital wallet security
The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.
By Patrick Cooley • Dec. 3, 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 -
Leon Neal via Getty Images
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 -
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 -
Win McNamee via Getty Images
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 -
Dan Kitwood via Getty Images
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 -
Pekic via Getty Images
Push payment scam losses to surpass $3B by 2028: report
U.S. fraud losses due to push payment scams are rising, partly because of more real-time payments, according to a report from the payments company ACI Worldwide.
By Tatiana Walk-Morris • Nov. 25, 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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