The Latest

  • Alex Chriss, PayPal's next CEO
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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.

  • Exterior front rendering of Discover Financial Services' Chatham Customer Care Center in Chicago, Illinois.
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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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Exterior of the Whole Foods Market in the Glover Park neighborhood of Washington, D.C.
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    Courtesy of Whole Foods Market
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    Whole Foods to pull Amazon’s Just Walk Out technology from stores

    The specialty grocer, which operates the checkout tech at just two stores, will follow the same path as Amazon Fresh stores in the U.S., a spokesperson confirmed Friday.

  • 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.

  • 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.

  • A woman uses her palm to show credentials for an access control point.
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    Courtesy of Amazon Web Services
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    Amazon debuts app for palm payment

    The Amazon One app can be used to enter various locations, identify individuals, pay for items and access loyalty rewards.

  • 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.

  • Treasury Prime multi-bank network
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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.

  • 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. 

  • PayPal headquarters building in San Jose
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    Justin Sullivan via Getty Images
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    PayPal pursues pricing power

    The digital payments pioneer aims to increase pricing for its services to boost profitable growth under a new management team.

  • 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.

  • 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.

  • The produce department at Amazon Fresh in Woodland Hills, California.
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    Jeff Wells/Payments Dive
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    Amazon to drop ‘just walk out’ at some grocery stores

    The e-commerce giant will replace the grab-and-go tech with its smart shopping carts in its Amazon Fresh grocery stores, a tech media outlet reported.

  • A customer pays using a Clover device
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    Permission granted by Fiserv
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    Deep Dive

    Fiserv has ambitious goals for Clover. Can it meet them?

    To achieve growth targets, Clover will need to fend off competition from rivals, especially Square, and make headway in new verticals and geographic regions, analysts and consultants said.

  • 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. 

  • transfer pricing tax
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    Suriyapong Thongsawang via Getty Images
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    CFPB warns remittance firms about false ads

    The agency told international money transfer companies that “deceptive marketing” may run afoul of federal law.

  • Rifles are shown in a gun store
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    Brandon Bell/Getty Images via Getty Images
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    Warren reiterates call for gun MCC guidance

    The Massachusetts senator and 32 other Democrats stressed the need for federal guidance on the gun merchant category code as states diverge.

  • 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.

  • 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.

  • 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.

  • 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.