Banking: Page 3

  • Alex Chriss, PayPal's next CEO
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    Permission granted by PayPal
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    PayPal’s new CEO lands $42M pay package

    The bulk of that compensation stems from a major stock grant handed to Alex Chriss when he took the digital payments company’s top post last year.

    By • April 10, 2024
  • Exterior front rendering of Discover Financial Services' Chatham Customer Care Center in Chicago, Illinois.
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    Permission granted by Discover
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    Capital One’s Discover bid tops biggest Q1 tech-related deals

    The proposed Capital One-Discover merger made the list because of fintech issues that are at stake in the $35.3 billion deal.

    By Alexei Alexis • April 10, 2024
  • Money next to hourglass Explore the Trendlineâž”
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    busracavus via Getty Images
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    Trendline

    Real-time payments are on the rise

    As the U.S. makes a move to encourage use of real-time payments, it’s following other nations in adopting the real-time advance.

    By Payments Dive staff
  • Consumer Financial Protection Bureau Director Rohit Chopra
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    Anna Moneymaker / Staff via Getty Images
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    CFPB, DOJ boost teamwork on cases

    The bureau will refer “potentially criminal conduct,” including “anti-competitive mischief,” to the DOJ for action, CFPB Director Rohit Chopra said Monday.

    By • April 9, 2024
  • Sen. Richard Blumenthal, D-Conn., listens as Sen. Richard Durbin, D-Ill., speaks during a news conference after a hearing on gun violence on Capitol Hill on June 7, 2022.
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    Alex Wong/Getty Images via Getty Images
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    Visa, Mastercard CEOs throw hearing off track

    Senate Judiciary Committee Chairman Dick Durbin postponed a plan to call credit card chieftains on the capitol carpet at a Tuesday hearing, but he’s still aiming to get them to Washington.

    By • April 9, 2024
  • Fiserv CEO Frank Bisignano
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    Ilya S. Savenok / Stringer via Getty Images
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    Fiserv CEO compensation rose last year to $28M

    Compensation for Fiserv CEO Frank Bisignano climbed 57% over 2022, as the value of stock awarded to him surged and he received a $3 million cash bonus.

    By • April 8, 2024
  • A stethoscope rests on a pile of American dollar bills.
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    Gerenme via Getty Images
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    Tension brews over healthcare payments: JPMorgan

    Healthcare consumers are often confused about the bill payment process, while providers grapple with delays and high collection costs, according to a survey by the bank.

    By Tatiana Walk-Morris • April 8, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Win McNamee via Getty Images
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    Virtual marketplaces risk real losses: CFPB

    Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.

    By • April 5, 2024
  • A bicycle delivery person in a city checking an address on a mobile app.
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    South_agency/E+ via Getty Images
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    Opinion

    EWA shouldn’t be regulated like loans

    “Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.

    By Darcy Tuer • April 5, 2024
  • Girl Walking on Street with Brazilian Flag on Wall
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    Photo by Bia Santana from Pexels.

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    Fiserv to let Brazilians use Pix in US

    The payments processing giant is providing support to extend the Brazilian instant payments system to merchants and consumers around the world. 

    By • April 4, 2024
  • Federal Reserve building at night
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    Alex Wong via Getty Images
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    NY Fed enters cross-border tokenization effort

    The central bank will join six other central banks in exploring blockchain technology to speed up international payments.

    By • April 4, 2024
  • Treasury Prime multi-bank network
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    Permission granted by Treasury Prime
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    Treasury Prime, Narmi partner to offer FedNow service

    The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

    By Rajashree Chakravarty • April 3, 2024
  • CFPB Director Rohit Chopra participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury
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    Kevin Dietsch via Getty Images
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    Credit card complaints jumped 38% last year: CFPB

    The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

    By • April 3, 2024
  • Ryan Reynolds
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    Emma McIntyre via Getty Images
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    Nuvei goes private in stock sale to Advent

    The sale of the Canadian payments processor’s stock to the private equity firm will hand some investors a $560 million windfall.

    By • April 2, 2024
  • American Express logo on window
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    Scott Olson via Getty Images
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    How Amex is entangled in the Visa-Mastercard settlement

    The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same. 

    By • April 1, 2024
  • Smiling mature man using laptop
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    Mirel Kipioro via Getty Images
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    Sponsored by U.S. Bank

    Stay competitive: Enhance your payment experience with U.S. Bank Card as a Service (CaaS)

    For many companies, CaaS not only improves the customer experience but also yields expected—and sometimes unexpected—benefits for the business.

    April 1, 2024
  • Director of Consumer Financial Protection Bureau Rohit Chopra speaking in front of a desk.
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    Alex Wong via Getty Images
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    CFPB targets ‘bait-and-switch’ card reward programs

    Major credit card providers saddle rewards programs with fees and interest, burdening consumers who carry balances, CFPB Director Rohit Chopra said.

    By • March 27, 2024
  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Discover CEO to exit for Ally

    Michael G. Rhodes, who took the top post at Discover this year, is leaving to become the next CEO of the bank Ally.

    By Caitlin Mullen • March 27, 2024
  • View of a Walmart storefront
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    Justin Sullivan via Getty Images
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    Walmart can end Capital One card tie early, judge says

    It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

    By Caitlin Mullen • March 27, 2024
  • A Klarna promotional sign is seen in a mall
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    Caitlin Mullen/Payments Dive
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    NY Assembly bill counters governor on BNPL

    A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.

    By • March 27, 2024
  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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    Capital One pledges to give Discover’s network a boost

    Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

    By Caitlin Mullen • March 26, 2024
  • A woman holding a smartphone walks past a gray wall with an apple logo on a black sign.
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    Sean Gallup via Getty Images
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    DOJ calls Apple card fees ‘significant expense’ for banks

    The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.

    By • March 26, 2024
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    Justin Sullivan via Getty Images
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    Visa, Mastercard reach landmark credit card settlement

    The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.

    By • March 26, 2024
  • JPMorgan Chase sign in front of building in street level view.
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    Chris Hondros via Getty Images
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    JPMorgan seeks embedded payments niches

    The biggest U.S. bank aims to offer embedded payments software solutions in more industries for its corporate clients.

    By • March 25, 2024
  • Visa cards stacked and splayed
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    Justin Sullivan via Getty Images
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    How Visa handled ‘BidenCash’ card fraud incident

    The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

    By Tatiana Walk-Morris and Lynne Marek • March 25, 2024
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Advocates urge transparency in Capital One-Discover review

    More than 30 organizations demanded the deal not be subject to expedited federal review and that public hearings be held in the largest lending markets for both Capital One and Discover.

    By Caitlin Mullen • March 22, 2024