Regulations & Policy


  • Kansas state capitol
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    Ray Tan via Getty Images
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    EWA providers seek to steer state legislation

    Payactiv, DailyPay and other earned wage access providers teamed up in calling on the governor of Kansas to pass legislation similar to laws recently enacted in three other states.

    By April 11, 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
  • Image of a grocery cart floating over a laptop keyboard Explore the Trendline
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    toeytoey2530 via Getty Images
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    Trendline

    E-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
  • 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
  • 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
  • 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
  • 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
  • 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.

    By Caitlin Mullen • March 29, 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
  • antitrust enforcement
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    Scott Barbour via Getty Images
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    Private plaintiffs follow DOJ’s Apple antitrust case

    The follow-on class actions are substantively similar to the federal government’s case, making them dependent on the agency’s lead in breaking the company’s smartphone stranglehold.

    By Robert Freedman • March 27, 2024
  • Elon Musk at NYT Summit
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    Michael M. Santiago via Getty Images
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    X lands money licenses in Illinois, New Mexico

    The social media platform is now nearly halfway to securing the state licenses needed to fulfill owner Elon Musk’s vision of a nationwide payments app.

    By 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
  • Businessmen use Bitcoin to lure others into a trap
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    wenjin chen via Getty Images
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    Crypto fraud losses rose to $3.9B in 2023, a 53% yoy increase: FBI

    SEC enforcement actions against cryptocurrency players were up last year, but the commission is under attack for not issuing new rules for the industry.

    By Vincent Ryan • 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
  • The Wisconsin State Capitol dome reflecting in a steel and glass building
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    YangYin via Getty Images
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    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 March 22, 2024
  • A man standing in front of a black background with the outline of the Apple logo
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    Justin Sullivan via Getty Images
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    DOJ sues Apple over antitrust violations

    The tech giant called the suit a threat to its identity and principles, vowing to "vigorously defend against it.”

    By March 21, 2024
  • A mailbox is overflowing.
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    ANGEL RAMIREZ/iStock via Getty Images
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    ABA, U.S. Postal Services jointly combat check fraud

    American Bankers Association and the U.S. Postal Inspection Service are working together to educate postal and banking employees as well as consumers on the rising form of fraud.

    By Tatiana Walk-Morris • March 21, 2024
  • Credit card logos displayed in a window.
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    Scott Olson via Getty Images
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    Fed banks analyze consumer use of card promos

    New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

    By Tatiana Walk-Morris • March 20, 2024
  • Pixelated U.S. paper currency on dark background
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    dem10 via Getty Images
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    New Nacha rules strike at push-payment fraud

    “With respect to transaction monitoring for fraud, it would no longer be acceptable to do nothing,” Nacha Executive Vice President Michael Herd said.

    By March 19, 2024