Regulations & Policy


  • Military style vehicle with Cash App sticker on window.
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    Jesse Grant via Getty Images
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    Cash App enforcement action expected this year

    Federal regulators reviewing whistleblower allegations related to Block’s Cash App may act on the complaints this year, predicted an attorney for the complainants.

    By March 4, 2024
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    Joe Raedle / Staff via Getty Images
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    Mastercard, Fiserv execs take sides on debit regulation

    A Mastercard executive painted Regulation II as potentially harmful to consumers, while Fiserv’s CEO said it was an appropriate update due to the rise of online transactions.

    By March 4, 2024
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    tommy via Getty Images
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    Trendline

    Payments industry seeks to keep pace with fraudsters

    As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.

    By Payments Dive staff
  • Affirm to acquire Returnly.
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    Courtesy of Affirm
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    Q&A

    Affirm preps for UK launch

    Beyond expansion to the U.K., the BNPL provider may seek to plant a flag where its large partners such as Amazon and Shopify have a presence, said Affirm’s Chief Revenue Officer Wayne Pommen.

    By March 1, 2024
  • Stack of credit cards spread out
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    bernie_photo via Getty Images
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    CFPB puts credit card comparison sites on notice

    The bureau seeks “to ensure that digital advertisements for financial products are not disguised as unbiased and objective advice,” CFPB Director Rohit Chopra said.

    By March 1, 2024
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    Courtesy of Green Dot
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    Green Dot faces Fed’s proposed consent order

    The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.

    By Gabrielle Saulsbery • Feb. 29, 2024
  • A close up of the Department of Treasury seal on the front of the headquarters with "the Department of Treasury" and "1789" on an outer circle and a shield with the scales of justice up top and a key.
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    Chip Somodevilla via Getty Images
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    Treasury Department to develop financial inclusion strategy

    The department is considering how to measure and improve financial inclusion across payments and other financial services.

    By Tatiana Walk-Morris • Feb. 29, 2024
  • Customers queue outside the Apple Store in Milan on September 22, 2023 in Milan, Italy.
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    Ming Yeung via Getty Images
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    Apple begins sharing BNPL data with Experian

    The development may spur rival BNPL providers to follow suit, according to Ed deHaan, a professor at the Stanford Graduate School of Business. 

    By Feb. 29, 2024
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    Retrieved from Flickr/frankieleon.
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    Opinion

    Discover deal may trigger more competition

    The merger at least raises the possibility that there won’t be two card networks that dominate the future of tokenized transactions, writes one fintech lawyer.

    By Ravieshwar Singh • Feb. 28, 2024
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Capital One tackles Discover compliance issues

    Capital One is betting the resolution of Discover’s compliance issues will take longer and cost more than expected, Capital One CEO Richard Fairbank said.

    By Feb. 28, 2024
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    Spencer Platt via Getty Images
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    Warren calls out OCC over merger policy ahead of Capital One-Discover

    The senator urged regulators to block the deal and took the OCC to task for its approval record. Meanwhile, JPMorgan CEO Jamie Dimon advocated for Capital One to get a fair shake.

    By Dan Ennis • Feb. 27, 2024
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Payments Dive
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    Column

    Fed official makes a case for the dollar’s hegemony

    Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.

    By Feb. 27, 2024
  • Guns are shown in a gun store as a person passes by
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    Spencer Platt / Staff via Getty Images
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    Congress members lob dueling gun code bills

    Democratic and Republican Congress members took opposing stances this month in introducing bills on the use of a new gun merchant category code.

    By Feb. 26, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Win McNamee / Staff via Getty Images
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    Capital One-Discover deal carries $1.38B termination fee

    The fee would apply if Discover chooses another buyer or if either board has a change of heart, but not if regulators block the deal.

    By Dan Ennis • Feb. 23, 2024
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    Sam Silverstein/Payments Dive
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    Cash-strapped consumers turn to BNPL: Fed survey

    Consumers facing financial hardships turned to buy now, pay later services more last year than stable consumers, according to survey results from the Philadelphia Federal Reserve Bank. 

    By Tatiana Walk-Morris • Feb. 23, 2024
  • Block Head Jack Dorsey
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    Drew Angerer / Staff via Getty Images
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    CFPB may take legal action against Block

    The bureau has informed the digital payment company it’s weighing legal action related to a Cash App probe.

    By Feb. 23, 2024
  • OCC Acting Comptroller Michael Hsu testifies in front of the Senate Banking Committee on Aug. 3, 2021
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    Retrieved from Senate Banking Committee.
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    OCC’s Hsu calls for federal payments licensing

    The head of the OCC called on Congress to replace the current state-by-state money transmitter licensing system for payments companies with a federal regulatory framework.

    By Feb. 22, 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-Discover deal may spark antitrust concern

    While the $35 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.

    By Feb. 21, 2024
  • Sen. Elizabeth Warren (D-MA) speaks during a Senate Banking, Housing, and Urban Affairs committee hearing on January 11, 2024 in Washington, DC.
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    Kent Nishimura via Getty Images
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    Warren probes Zelle scam policy

    Three senators, including Elizabeth Warren, asked Zelle owner Early Warning Services to provide detailed information about its fraud reimbursement policy.

    By Feb. 21, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Win McNamee / Staff via Getty Images
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    Capital One to acquire Discover in $35.3B deal

    The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

    By Dan Ennis • Feb. 20, 2024
  • Sen. Dick Durbin with his hand up and another congressional colleague in the background.
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    Chip Somodevilla via Getty Images
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    Senator calls card CEOs on congressional carpet

    Sen. Dick Durbin, sponsor of a card network competition bill, urged the CEOs of Visa and Mastercard to appear at an April congressional hearing and not send their underlings.

    By Feb. 14, 2024
  • A gold American Express card being passed between two hands
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    Joe Raedle via Getty Images
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    Amex gears up for bigger bank category

    Given its asset growth, the card issuer anticipates facing more stringent regulatory requirements and more frequent stress tests.

    By Feb. 13, 2024
  • U.S. Treasury Secretary Janet Yellen testifies before the House Committee on Financial Services
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    Win McNamee via Getty Images
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    Yellen asks Congress for stablecoin legislation

    Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.”

    By Feb. 13, 2024
  • A person holding a cell phone with both hands.
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    Delmaine Donson via Getty Images
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    More than half of P2P fraud victims lose money: AARP

    “When it comes to addressing instances of financial exploitation, consumers are less likely to trust P2P platforms than banks and credit unions,” an AARP survey reported.

    By Tatiana Walk-Morris • Feb. 12, 2024
  • Rifle on counter at gun store with hands of two people showing an apparent transaction.
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    Scott Olson via Getty Images
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    Card networks to implement gun code in California: report

    Visa, Mastercard and American Express are moving forward with use of a new gun merchant category code for credit card purchases in California, according to CBS News.

    By Feb. 12, 2024
  • Fingers hover over a computer keyboard with numbers on a screen, against a shadowy backdrop.
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    jariyawat thinsandee via Getty Images
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    Q&A

    Banks should step up scam response: fraud expert

    With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, says one executive.

    By Feb. 9, 2024