Treasury official calls for new regulatory framework

The department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.

By Lynne Marek • Oct. 11, 2024

New York Governor signs gun code law

Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.

By Patrick Cooley • Oct. 10, 2024

Explore the Trendline➔

Top 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

Durbin jumps into Illinois interchange law fray

Sen. Dick Durbin threw his weight behind an Illinois law that would nix interchange fees on taxes and tips, supporting the edict in a court document filed Friday.

By Lynne Marek • Oct. 8, 2024

Fiserv nets special banking charter in Georgia

The payments processor is only the second company to win the special bank charter since Georgia made it available.

By Patrick Cooley • Oct. 4, 2024

OCC seeks to halt Illinois card interchange fee law

The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.

By Lynne Marek • Oct. 3, 2024

Visa expected to temper competitive moves after DOJ action

The card network may bend to emboldened fintech rivals and more assertive merchants following the Justice Department’s antitrust lawsuit.

By Lynne Marek • Oct. 3, 2024

Visa boosts litigation funding ahead of US antitrust fight

The company added $1.5 billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants.

By Justin Bachman • Oct. 1, 2024

Payments conferences to keep on your radar for 2025

Artificial intelligence, FedNow and the ISO 20022 standards are expected to be hot topics at next year’s events.

By Shefali Kapadia • Oct. 1, 2024

Trump interest rate cap draws criticism

Fewer people would be approved for credit cards, and credit card issuers would offer fewer perks, opponents of the longshot proposal say.

By Patrick Cooley • Sept. 30, 2024

Fed dissects consumer use of digital payments

While most U.S. households have a bank account, just under half use a nonbank payment service, Kansas City Federal Reserve Bank research says.

By Tatiana Walk-Morris • Sept. 30, 2024

Inclusive innovation: how banks and credit unions can democratize payments

Open Finance helps banks democratize and secure payments. Here’s what you need to know.

By Radha Suvarna, Chief Product Officer, Payments Business Unit at Finastra • Sept. 30, 2024

FDX seeks to become open banking standard-setter

The Consumer Financial Protection Bureau will decide whether an organization’s practices are transparent and balanced enough to set standards for open banking.

By Patrick Cooley • Sept. 26, 2024

Sezzle evolves alongside BNPL industry

The company now offers more products but also faces more regulatory pressure, Sezzle CEO Charlie Youakim told Payments Dive.

By Patrick Cooley • Sept. 25, 2024

DOJ suit accuses Visa of illegal debit payment monopoly

The company threatens merchants with high fees, and "makes its potential rivals business partners to thwart competition in debit card processing," the DOJ says.

By Justin Bachman • Sept. 24, 2024

Visa faces possible DOJ lawsuit, news reports say

The card network may soon be sued by the Department of Justice over its debit card practices, according to multiple news reports citing anonymous sources.

By Lynne Marek • Sept. 24, 2024

Reliant pushes back against CFPB lawsuit

The card services company argued Wednesday that it has always been upfront with customers about fees, and was blindsided by the CFPB's legal action.

By Patrick Cooley • Sept. 19, 2024

Credit Card Competition bill backers keep pressure on

Republican Sen. Roger Marshall has a new ad pitching the Credit Card Competition Act proposal aimed at dislodging Visa and Mastercard’s dominance.

By Lynne Marek • Sept. 19, 2024

Fed payments proposal pits big banks against small rivals

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

By Lynne Marek • Sept. 18, 2024

CFPB takes aim at ATM, debit card fees

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

By Dan Ennis • Sept. 18, 2024

Lawmakers push for crackdown on fintechs

Two U.S. senators demanded tighter regulations on BaaS and fintech partnerships, saying they pose “a broader threat to the stability of our banking system and the economy.”

By Rajashree Chakravarty • Sept. 17, 2024

FTC cracks down on subscription traps

The Biden-Harris administration is taking to task companies that trap consumers in recurring subscriptions and make it nearly impossible to cancel.

By Kristen Doerer • Sept. 16, 2024

CFPB sues credit card company over excessive fees

The agency says Horizon Card Services violated the Truth in Lending Act by charging fees as high as 60% of a customer’s credit limit, and all but refusing to cancel their cards.

By Patrick Cooley • Sept. 16, 2024

Discover’s top lawyer leaves for Ally

Hope Mehlman is expected to take her new Ally role on Dec. 2, even as Discover faces high legal hurdles in completing an acquisition of its business by Capital One.

By Patrick Cooley • Sept. 9, 2024

CFPB’s EWA rule may undo progress

“The CFPB’s plan to reclassify EWA as a loan could accidentally backfire on the agency by driving people right back to the payday lending industry,” writes one tech trade group professional. 

By Adam Kovacevich • Sept. 5, 2024

Academics question digital wallet security

Due to lax authentication practices, a thief or hacker can easily add a stolen credit card to their own digital wallet, the study concluded.

By Patrick Cooley • Sept. 4, 2024