Banking: Page 26
-
Anna Moneymaker / Staff via Getty Images
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 James Pothen • April 9, 2024 -
Alex Wong/Getty Images via Getty Images
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 Lynne Marek • April 9, 2024 -
Explore the Trendline➔
1401461124 via Getty Images
TrendlineTop 5 stories from Payments Dive
The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.
By Payments Dive staff -
Ilya S. Savenok / Stringer via Getty Images
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 Lynne Marek • April 8, 2024 -
Gerenme via Getty Images
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 -
Win McNamee via Getty Images
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 James Pothen • April 5, 2024 -
South_agency/E+ via Getty Images
OpinionEWA 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 -
Photo by Bia Santana from Pexels.
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 Lynne Marek • April 4, 2024 -
Alex Wong via Getty Images
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 James Pothen • April 4, 2024 -
Permission granted by Treasury Prime
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 -
Kevin Dietsch via Getty Images
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 James Pothen • April 3, 2024 -
Emma McIntyre via Getty Images
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 Lynne Marek • April 2, 2024 -
Scott Olson via Getty Images
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 Lynne Marek • April 1, 2024 -
Mirel Kipioro via Getty Images
Sponsored by U.S. BankStay 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 -
Alex Wong via Getty Images
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 James Pothen • March 27, 2024 -
Courtesy of Ally Financial
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 -
Justin Sullivan via Getty Images
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 -
Caitlin Mullen/Payments Dive
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 Lynne Marek • March 27, 2024 -
Win McNamee via Getty Images
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 -
Sean Gallup via Getty Images
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 James Pothen • March 26, 2024 -
Justin Sullivan via Getty Images
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 Lynne Marek • March 26, 2024 -
Chris Hondros via Getty Images
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 Lynne Marek • March 25, 2024 -
Justin Sullivan via Getty Images
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 -
Joe Raedle / Staff via Getty Images
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 -
YangYin via Getty Images
Wisconsin passes EWA law as states’ paths diverge
Wisconsin became the third state to pass a law requiring that earned wage access providers be licensed, and leaving the payments unregulated under lending laws.
By Lynne Marek • March 22, 2024 -
Courtesy of Amazon
ColumnPayPal’s new CEO takes the Venmo challenge
PayPal has been striving for more than a decade to better connect Venmo to merchants and make it pay off. Now, a new CEO has inherited the challenge.
By Lynne Marek • March 21, 2024
Previous
