Regulations & Policy: Page 10
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Courtesy of Shift4. Shift4 CEO Jared Isaacman
Shift4 makes $4.7M in undisclosed payments to executives’ relatives
The payments were made over a three-year period beginning in 2020, and were not listed in some filings with the Securities and Exchange Commission. As a result, the company agreed to pay a fine under a settlement last week.
By Patrick Cooley • Jan. 16, 2025 -
Jesse Grant via Getty Images
Block agrees to pay $255M to regulators for Cash App deficiencies
The digital payments provider agreed to pay penalties to the Consumer Financial Protection Bureau and a group of states under settlements that alleged the company violated banking laws.
By Lynne Marek • Jan. 16, 2025 -
Explore the Trendline➔
1401461124 via Getty Images
TrendlineTop 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 -
Courtesy of Mastercard
Court approves Mastercard settlement
The card network entered the agreement to settle a proposed class action that alleged it discriminated against Black, Hispanic and female employees by underpaying them.
By Lynne Marek • Updated 9 hours ago -
Sam Silverstein/Payments Dive
Buy now, pay later users pile on debt, CFPB finds
Consumers who use BNPL take out multiple loans and have more personal debt than consumers who don’t use the payment method, according to a new report from the Consumer Financial Protection Bureau.
By Patrick Cooley • Jan. 14, 2025 -
mikkelwilliam via Getty Images
Payments laws apply to online games, CFPB says
Video game companies that operate online gaming platforms must comply with the Electronic Fund Transfer Act, the agency said.
By Patrick Cooley • Jan. 13, 2025 -
Michael M. Santiago via Getty Images
RTP payments surged 38% last year
The high-speed payments system operated by The Clearing House also saw the value of transactions nearly double last year over 2023.
By Lynne Marek • Jan. 10, 2025 -
Courtesy of Instacart
Deep DivePayments plays gather momentum in 2025: 6 industry trends to watch
Deregulation, artificial intelligence and stablecoin use are among the industry forces that will drive more digital payments use and innovation this year.
By Lynne Marek and Patrick Cooley • Jan. 9, 2025 -
Kevin Dietsch / Staff via Getty Images
Fintech Dave alters fee structure, blasts DOJ over amended lawsuit
The cash advance online platform called the lawsuit “a continued example of government overreach.”
By Rajashree Chakravarty • Jan. 9, 2025 -
Courtesy of U.S. Senate Committee on Health, Education, Labor and Pensions
ColumnWill Trump and Sanders lock arms to cap credit card interest rates?
The senator and incoming president partnering on a cap proposal may not be as far-fetched as the payments and banking industries would hope.
By Lynne Marek • Jan. 7, 2025 -
Anna Moneymaker / Staff via Getty Images
CFPB details BNPL, EWA supervision for first time
In its latest supervisory overview, the Consumer Financial Protection Bureau included a review of buy now, pay later and earned wage access examinations.
By Lynne Marek • Jan. 6, 2025 -
Anna Moneymaker via Getty Images
Merchants, banks spar over Fed’s debit card fee proposal
Major trade groups for merchants and banks engaged in another round of fighting last week over whether the Federal Reserve should finalize a lower debit card interchange fee rate.
By Lynne Marek • Jan. 3, 2025 -
Courtesy of Walmart
Walmart forced delivery workers to pay ‘junk fees,’ CFPB alleges
A Consumer Financial Protection Bureau lawsuit alleges the retailer and fintech Branch Messenger illegally opened accounts for drivers, and deposited their pay into accounts without their consent.
By Peyton Bigora • Jan. 3, 2025 -
scyther5 via Getty Images
CFPB takes aim at gambling card fees
The federal agency says credit card issuers are charging cash advances fees of at least $10 on gambling transactions, even if those transactions are small.
By Patrick Cooley • Dec. 19, 2024 -
Getty Images/Staff via Getty Images
BVNK raises $50M to fuel US expansion
The stablecoin startup’s plans, including a new office in San Francisco, coincide with the incoming crypto-friendly Trump administration.
By Tatiana Walk-Morris • Dec. 18, 2024 -
Joe Raedle / Staff via Getty Images
CFPB swats at retail credit cards
The federal agency warned companies issuing credit cards about illegal tactics, specifically calling out promotions that turn into “bait-and-switch” offers.
By Lynne Marek • Dec. 18, 2024 -
Chris McGrath/Getty Images Europe via Getty Images
What role do stablecoins play in the payments industry?
With the discussion of stablecoins intensifying after the election of Donald Trump, here’s a primer explaining what this cryptocurrency is and what its practical uses may be.
By Patrick Cooley • Dec. 17, 2024 -
Drew Angerer / Staff via Getty Images
U.S. Bank CEO talks payments split
Dividing its payments unit into two segments under different leaders points to the significance of the business at the bank, said Andy Cecere, the lender’s chief executive.
By Caitlin Mullen • Dec. 16, 2024 -
Permission granted by American Express
Amex keeps focus on younger customers
The credit card company is sticking with a strategy to concentrate marketing on the millennial and Gen Z generations shaping shopping trends.
By Patrick Cooley • Dec. 16, 2024 -
Joe Raedle / Staff via Getty Images
Ex-TD employee charged in debit card case
The former worker issued dozens of cards linked to accounts opened by another TD employee in the names of shell companies, and received bribes for that work, the Justice Department alleged.
By Dan Ennis • Dec. 13, 2024 -
JHVEPhoto via Getty Images
CFPB-Google battle likely to stretch into next administration
The Consumer Financial Protection Bureau says Google’s payment unit failed to explain why it was denying customer requests for refunds. Google told the agency to back off in a lawsuit.
By Patrick Cooley • Dec. 10, 2024 -
Courtesy of Comerica
CFPB sues Comerica for ‘systematically failing’ federal benefits receivers
The federal agency alleged the bank fell short of its responsibility to some 3.4 million cardholders who depend on receiving federal benefits through prepaid debit cards.
By Gabrielle Saulsbery • Dec. 9, 2024 -
Permission granted by Fiserv
Fiserv cuts as many as 1,500 employees, analyst estimates
The payments processor confirmed it had eliminated jobs. A Wolfe Research analyst estimated the reduction may impact as much as 3.7% of the workforce.
By Patrick Cooley • Dec. 6, 2024 -
Matt Winkelmeyer / Staff via Getty Images
Crypto leaders have knives out for attorneys leaving the SEC
Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.
By Robert Freedman • Dec. 6, 2024 -
Caitlin Mullen/Payments Dive, data from Fiserv
Fiserv CEO tapped to lead Social Security Administration
President-elect Trump announced the nomination of Frank Bisignano late Wednesday, and the payments processor confirmed the appointment Thursday.
By Lynne Marek • Dec. 5, 2024 -
Courtesy of Shift4
Trump taps Shift4’s Isaacman to run NASA
The CEO of the payment and technology company has led two space missions for the private company SpaceX.
By Patrick Cooley • Dec. 4, 2024
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