Regulations & Policy


  • 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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    6 viewpoints from the CFPB’s director that may affect payments

    “We are looking a lot at the convergence of payments and commerce and the extent to which a very big player could use that to shatter that wall between banking and commerce,” the agency’s director, Rohit Chopra, said this month.

    By Suman Bhattacharyya • July 19, 2024
  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    Anna Moneymaker via Getty Images
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    CFPB to apply lending laws to EWA

    The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.

    By July 18, 2024
  • Money next to hourglass Explore the Trendline
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    busracavus via Getty Images
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    Trendline

    Real-time payments are on the rise

    As the U.S. makes a move to encourage use of real-time payments, it’s following other nations in adopting the real-time advance.

    By Payments Dive staff
  • 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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    Opponents of Capital One-Discover merger to air grievances

    Consumer advocates say the merger will stifle competition and give the combined company an easy avenue to raise fees on card payments.

    By July 18, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Dive
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    FedNow zooms past RTP participation in inaugural year

    The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.

    By July 16, 2024
  • Gift cards hang on a rack in a store.
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    Permission granted by Lynne Marek
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    Prepaid card spending accelerates

    The rise of digital wallets hasn't dampened prepaid card use, including the payroll cards some employers use to pay their workers.

    By July 16, 2024
  • A person walks into BNY Mellon's headquarters in New York City.
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    Mario Tama / Staff via Getty Images
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    Banks should proactively tackle instant payments fraud: BNY

    Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.

    By Suman Bhattcharyya • July 12, 2024
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    Chris McGrath via Getty Images
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    Crypto theft doubles to $1.38B

    The May theft of over $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM Bitcoin is the largest digital currency heist so far this year.

    By Alexei Alexis • July 11, 2024
  • A cashier hands a shopper their credit card
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    Joe Raedle / Staff via Getty Images
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    Visa-Mastercard settlement generates thousands of claim conflicts

    Lawyers hope a court-approved extension of the claims filing deadline will provide time for resolution of conflicts and allow other business owners to file new claims in the interchange fee case.

    By Lyle Moran • July 9, 2024
  • Rep. French Hill
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    Win McNamee / Staff via Getty Images
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    Congress members egg on US payments system expansion

    A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.

    By July 8, 2024
  • A sign for Discover Financial Services
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    Scott Olson via Getty Images
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    Discover to settle card class actions for $1.2B

    The card company has warned it could face an additional financial toll related to the misclassification legal matter, in which it overcharged merchants for years.

    By Caitlin Mullen • July 8, 2024
  • Doctor checks child's chest with stethoscope
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    Mario Villafuerte via Getty Images
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    CFPB keeps scrutiny on medical cards

    The Consumer Financial Protection Bureau has found some patients felt pressured by healthcare providers to use medical credit cards, according to an update on the federal agency’s efforts to protect consumers.

    By July 8, 2024
  • A person's hand holding a phone and on the screen is an image of a shopping cart with a banner above that says "BUY NOW PAY LATER!A
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    Creative via Getty Images
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    BNPL credit reporting hangs in limbo

    The Consumer Financial Protection Bureau has long wanted buy now, pay later loans to be listed on consumer’s credit reports. So why didn’t it include that in a March rule for the industry?

    By July 3, 2024
  • legal team use of AI
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    Shutthiphong Chandaeng via Getty Images
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    Payments industry to use AI to detect fraud, improve efficiency

    Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

    By July 2, 2024
  • The New York state capitol building, a white building with multiple towers.
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    4nadia via Getty Images
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    New York BNPL bill is dead, for now

    Hopes for passing a 2024 buy now, pay later bill in New York state to regulate the nascent industry expired with the end of the legislative session last month. But next year could be a different story.

    By July 2, 2024
  • Stickers with the visa and mastercard logos on the exterior window of a store.
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    Justin Sullivan via Getty Images
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    Visa-Mastercard settlement failed to treat merchants ‘equitably’

    A proposed Visa-Mastercard settlement failed partly because a judge overseeing the case determined large merchants wouldn’t benefit as much as smaller merchants.

    By July 1, 2024
  • Loper decision ending Chevron deference doctrine
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    Anna Moneymaker / Staff via Getty Images
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    Supreme Court lets complaint on debit fees proceed

    The Supreme Court ruled Monday that a case challenging a debit card interchange rate set by the Federal Reserve can proceed.

    By July 1, 2024
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    Bet_Noire via Getty Images
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    Atlanta Fed taps payments head for operations chief

    Cheryl Venable is exiting her role as chief of payments operations for the Federal Reserve Financial Services to take the new post.

    By June 28, 2024
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    Dan Kitwood / Staff via Getty Images
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    Crypto firm Abra settles with 25 states for operating without a license

    Abra agreed to repay customers some $82 million in crypto. CEO Bill Barhydt said all but $2 million, yet to be claimed, has been repaid.

    By Gabrielle Saulsbery • June 27, 2024
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    bernie_photo via Getty Images
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    Judge sways away from Visa-Mastercard settlement

    On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.

    By June 25, 2024
  • Pennsylvania state capitol in Harrisburg
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    benedek via Getty Images
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    Pennsylvania may ban interchange fees on sales tax

    Democrats in the Keystone state’s House of Representatives are pushing a bill that would prohibit interchange fees from applying to sales tax when consumers make credit or debit card payments.

    By June 25, 2024
  • Window with sticker showing logos for Visa, Mastercard and American Express.
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    Scott Olson via Getty Images
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    Column

    Why a Visa-Mastercard settlement is likely to fall short

    The persistence of the networks’ ‘honor all cards’ rule may be a key reason Judge Margo Brodie is unlikely to approve a negotiated resolution of the two-decade-old case brought by merchants.

    By June 24, 2024
  • The US Federal Reserve building in Washington DC
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    uschools via Getty Images
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    Fed extends comment period on expansion of payment services proposal

    The Federal Reserve said it will give the public two more months to comment on its plan to expand operating hours for its two large-value payments services, the Fedwire Funds Service and the National Settlement Service.  

    By Tatiana Walk-Morris • June 24, 2024
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    FG Trade via Getty Images
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    Rain plans to raise more capital

    The earned wage access provider seeks to raise $50 million, said its CEO, who is rooting for increased regulation of the industry.

    By June 21, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
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    Fiserv hires former JPMorgan executive

    Takis Georgakopoulos worked for JPMorgan for 17 years before he departed earlier this month, and landed at the mega-processor as an advisor.

    By June 21, 2024
  • A man exits the front of the U.S. Capitol at dawn.
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    Win McNamee via Getty Images
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    Senate Republicans join battle against Fed debit card plan

    Senators this week introduced their version of a House bill aimed at derailing the Federal Reserve’s plan to lower the cap on fees that card issuers can charge merchants on debit card transactions.

    By June 20, 2024