Regulations & Policy
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X picks up two more state money licenses
South Dakota and Kansas are the first states to grant X money transmitter licenses since September, inching the social media platform closer to adding a payments feature.
By James Pothen • Nov. 30, 2023 -
Discover pursues sale of student loan business
The card issuer said Wednesday it’s seeking to offload its $10.4 billion student loan portfolio.
By Caitlin Mullen • Nov. 30, 2023 -
Explore the Trendline➔
tommy via Getty ImagesTrendlinePayments 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 -
Credit card bill battle may slide into 2024
Prospects for passing the Credit Card Competition Act this year are dimming, but supporters and opponents remain locked in battle over the legislation.
By Lynne Marek • Nov. 27, 2023 -
Plaid poaches Adyen executive for European expansion
Brian Dammeir sees opportunities for Plaid’s payments business to grow in Europe, particularly in account-to-account payments, he said in a Wednesday interview.
By James Pothen • Nov. 22, 2023 -
Will China be a boon or bust for card networks?
U.S. card companies have gained a foothold in China’s market, but they must still win over banks and battle behemoth China UnionPay.
By Lynne Marek • Nov. 21, 2023 -
Mastercard joint venture approved for China card processing
The No. 2 U.S. card company now has a means of processing card payments inside China, after years of waiting on Chinese government approvals.
By Lynne Marek • Nov. 20, 2023 -
Q&A
BNPL regulation could contribute to consolidation: Moody’s analysts
Adapting to regulation could be a costly endeavor for BNPL companies already facing losses and more expensive funding costs, Moody’s analysts said.
By Caitlin Mullen • Nov. 20, 2023 -
5 takeaways from Michael Barr’s remarks at The Clearing House conference
The Fed's vice chair for supervision expressed optimism about FedNow’s benefits and said he expects it to co-exist with the privately owned RTP network.
By Suman Bhattacharyya • Nov. 20, 2023 -
EU digital identity wallet to stir paytech market
The EU would require big tech companies, like Apple and Google, to offer their customers payment services through the new digital identity wallet if the regulation is approved.
By James Pothen • Nov. 13, 2023 -
BNPL companies face grim outlook, Moody’s says
Fierce competition, persistent losses and regulatory constraints are likely to push some players out of the buy now, pay later market, Moody’s predicted.
By Lynne Marek • Nov. 13, 2023 -
Bitcoin Depot CEO weighs in on new California law
Bitcoin Depot CEO Brandon Mintz contends a new California law will “create economic challenges” for his company and other crypto ATM operators.
By James Pothen • Nov. 10, 2023 -
FIS forms board committee to review litigant demands
Fidelity National Information Services disclosed that its board has formed a committee and hired an independent counsel to review demands tied to a stockholder lawsuit.
By Lynne Marek • Nov. 9, 2023 -
Affirm CEO welcomes CFPB oversight
Consumer Financial Protection Bureau supervision “levels the playing field” in buy now, pay later, Affirm’s CEO Max Levchin said Wednesday.
By Caitlin Mullen • Nov. 9, 2023 -
Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.
FTC, Florida reach $150,000 settlement with Chargebacks911
The Federal Trade Commision and Florida had sued the company for using deceptive tactics to prevent consumers from disputing credit card charges.
By James Pothen • Nov. 9, 2023 -
Citi fined $25.9M over alleged discrimination
The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.
By Anna Hrushka • Nov. 8, 2023 -
CFPB proposes new oversight for payment tech firms
Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.
By Lynne Marek , James Pothen • Nov. 7, 2023 -
PayPal discloses SEC, CFPB probes
The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.
By Lynne Marek • Nov. 3, 2023 -
Breaking down buy now, pay later
After its pandemic-era growth spurt, buy now, pay later has gone mainstream in consumer payments. But changing economic conditions are forcing the installment trend to evolve.
By Caitlin Mullen • Nov. 3, 2023 -
Apple’s payments regulation woes mount
Regulators in the Netherlands, South Korea and Australia have targeted the tech giant’s payments business, and antitrust litigation is brewing in the U.S.
By James Pothen • Nov. 2, 2023 -
Klarna transfers 500 jobs in cost-cutting move
The buy now, pay later provider is outsourcing about 500 positions in 10 markets to two partners, a company spokesperson said.
By Caitlin Mullen • Nov. 2, 2023 -
Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.
Non-bank financial institutions must report data security breaches: FTC
The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.
By Rajashree Chakravarty • Nov. 1, 2023 -
Payments players react to debit cap cut
The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.
By Caitlin Mullen • Oct. 31, 2023 -
Frequent flyer programs drawn into credit card bill fray
Sens. Dick Durbin and Roger Marshall, who have introduced legislation to spur credit card competition, called on federal regulators to investigate card frequent flyer program abuses.
By Lynne Marek • Oct. 31, 2023 -
The image by Ted Eytan is licensed under CC BY-SA 2.0
Affirm sees CFPB supervision on the horizon
The buy now, pay later company expects to begin being supervised by the federal watchdog in the “immediate future.”
By Caitlin Mullen • Oct. 30, 2023 -
Discover discloses SEC probe
A pricing error by the card company that affected merchants and merchant acquirers triggered the investigation.
By Caitlin Mullen • Oct. 27, 2023