Regulations & Policy
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Consumers, businesses gravitate to faster, mobile payments
As electronic payment options become available, consumers and businesses in the U.S. are using them more often, but keeping a wary eye on fraud.
By Lynne Marek • May 26, 2023 -
Debit network players gear up for July
Card network operators Visa, Mastercard and Fiserv are bracing for change in light of the Federal Reserve’s debit routing rule clarification.
By Caitlin Mullen • May 26, 2023 -
Explore the Trendlineâž”
NatalyaBurova via Getty ImagesTrendlineFraud concerns mount as verifying identities becomes harder
Criminals are increasingly taking on false identities to persuade victims to send them payments in email, payroll and vendor scams.
By Payments Dive staff -
Deep Dive
Payments fraud climbs as banks reach for joint response
Financial institutions and payments players are seeking to coalesce around new efforts to battle skyrocketing payments fraud.
By Lynne Marek • May 25, 2023 -
Citizens Bank to pay $9M to settle disputed-charge suit
The CFPB said the bank, in 2015, improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users.
By Dan Ennis • May 24, 2023 -
Opinion
Give EWA a chance
“It is unclear why critics want to place EWA in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association.
By Brian Tate • May 24, 2023 -
Legislators spar over stablecoin proposals
Lawmakers agree stablecoin legislation is needed to ensure the U.S. establishes itself as a leader in the space.
By Caitlin Mullen • May 22, 2023 -
NY Fed teams with Singapore on CBDC study
The two central banks tested digital ledger technology for payments across multiple currencies in less than 30 seconds.
By Lynne Marek • May 22, 2023 -
Bill Holdings discloses ‘material weakness’
Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.”
By Caitlin Mullen • May 19, 2023 -
Fed official stresses importance of dollar’s standing
“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.
By Tatiana Walk-Morris • May 19, 2023 -
PayPal considers Xoom sale: report
The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.
By Lynne Marek • May 17, 2023 -
Discover pursues ESG goals
The card company this week issued a new report on the environmental, social and corporate governance aspects of its business and its aspirations.
By Tatiana Walk-Morris • May 12, 2023 -
Everee takes on EWA providers
The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.
By Lynne Marek • May 11, 2023 -
Senators call out banks on card late fees
A group of lawmakers asked the CEOs of large credit card issuers to explain their late fee practices.
By Caitlin Mullen • May 9, 2023 -
Synchrony, Wells Fargo, Bread Financial lead medical credit card market: CFPB
The medical credit card industry has expanded in recent years as healthcare providers promoted the cards to patients, the agency said in a report.
By Tatiana Walk-Morris • May 8, 2023 -
Block boosts compliance spending to $160M
Square parent Block is increasing compliance spending on personnel and software this year.
By Caitlin Mullen • May 5, 2023 -
Battle ensues over CFPB proposal to cap late fees
Supporters and opponents of the CFPB’s proposal to cap late fees at $8 clashed in comments to the agency in recent weeks.
By Lynne Marek • May 5, 2023 -
Chargebacks911 appoints new CEO
The promotion for the company’s COO and founder comes as the returns management firm faces regulatory scrutiny over its business practices.
By Tatiana Walk-Morris and Lynne Marek • May 3, 2023 -
Andreessen Horowitz partners spy payments play
Gaming, cannabis and telehealth are some of the “high-risk” niches that would benefit from more vertical-specific payments software, two partners for the firm contend.
By Lynne Marek • May 3, 2023 -
FDIC proposes higher insurance coverage for payroll accounts
Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts — would merit higher deposit insurance coverage.
By Anna Hrushka • May 2, 2023 -
Mastercard ‘cannot afford to ignore’ AI, CEO says
The card network company is considering using artificial intelligence in more ways, including in customer service, CEO Michael Miebach said.
By Caitlin Mullen • April 28, 2023 -
Justice debit probe draws in Mastercard
The Justice Department’s antitrust division issued a civil investigative demand to the card company as part of a debit card probe that has also entangled its larger rival Visa.
By Lynne Marek • April 28, 2023 -
Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.
Payments increasingly in regulatory crosshairs, industry lawyers say
Attorneys and payments professionals called out recent areas of interest for regulators during the Electronic Transactions Association’s conference this week in Atlanta.
By Caitlin Mullen • April 27, 2023 -
Opinion
Swift executive calls for payments standardization
“As a standardized format, ISO 20022 creates a common language for international payments the world over,” writes an executive in support of industry collaboration.
By Stephen Lindsay • April 26, 2023 -
Fiserv lines up bank clients for FedNow
The mega processor has a handful of bank customers in the Federal Reserve’s real-time payments pilot, and a pack signed up for services after the system’s July launch. It’s part of the company’s growth strategy.
By Lynne Marek • April 26, 2023 -
Opinion
FedNow won’t bring ‘tidal wave’ of change
“Payments solutions reach scale when they provide better usability, affordability, and security,” write partners at a San Francisco venture capital firm.
By Kevin Jacques and Ben Malka • April 21, 2023