Regulations & Policy: Page 11
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FedNow racks up nearly $246M in annual expenses
The Federal Reserve projects the real-time payment system’s costs will climb slightly next year, from the $245.5 million it expects to spend this year.
By Lynne Marek • Dec. 4, 2024 -
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Q&AWorldpay exec talks digital wallet security
The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.
By Patrick Cooley • Dec. 3, 2024 -
Explore the Trendline➔
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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 -
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CFPB proposes rule to rein in data brokers’ sale of consumer information
With the proposal, the federal agency aims to crack down on fraudsters and others seeking to use sensitive personal information for illicit activities.
By Lynne Marek • Dec. 3, 2024 -
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Musk calls for end to CFPB
The presumed Trump Cabinet appointee said there “are too many duplicative regulatory agencies,” calling out the consumer watchdog specifically Wednesday.
By Gabrielle Saulsbery • Dec. 2, 2024 -
Lynne Marek/Payments Dive
Credit card delinquencies mount, Fed says
Consumers’ credit card delinquencies have risen this year, along with their balances, according to an annual Federal Reserve Board report.
By Lynne Marek • Nov. 27, 2024 -
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Democrats bash CapOne-Discover merger proposal
A group of Congress members told federal regulators to consider Capital One’s regulatory infractions in reviewing its proposed acquisition.
By Patrick Cooley • Nov. 26, 2024 -
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Q&AEx-PayPal CEO opines on everything from crypto to Cobol
Bill Harris, who briefly led the payments pioneer, talks about the U.S. lagging in payments innovation, and the potential of stablecoins.
By Lynne Marek • Nov. 26, 2024 -
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Visa to boost credit card fees next year
The network is expected to increase some fees it charges for credit card payments, according to a notice referenced during a Senate hearing last week.
By Lynne Marek • Nov. 25, 2024 -
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Push payment scam losses to surpass $3B by 2028: report
U.S. fraud losses due to push payment scams are rising, partly because of more real-time payments, according to a report from the payments company ACI Worldwide.
By Tatiana Walk-Morris • Nov. 25, 2024 -
Lynne Marek/Payments Dive
Richmond Fed seeks more CapOne-Discover input
The regional Fed bank, which has purview for the proposed merger, demanded more information from the bank as it considers whether to approve the deal.
By Lynne Marek • Nov. 22, 2024 -
Anna Moneymaker via Getty Images
CFPB tweaks big tech payments rule
In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.
By Lynne Marek • Nov. 21, 2024 -
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DC attorney general sues EarnIn over ‘deceptive’ marketing
The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.
By Dan Ennis • Nov. 20, 2024 -
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OpinionHow passing the CCCA would benefit nonprofits
"Nonprofits and charities need every penny they can get to make effective change in times of crisis, yet big banks and credit card companies continue to take their cut," writes one policy analyst.
By Hassan Tyler • Nov. 20, 2024 -
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Senate grills Visa, Mastercard executives over swipe fees
Executives from the card networks were on the defensive Tuesday when members of the Senate Judiciary Committee berated them over high fees merchants must pay to accept credit card payments.
By Lynne Marek • Nov. 19, 2024 -
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Scams ensnare even sophisticated consumers, Fed says
Criminals leverage advanced technology to make so-called mule accounts that pass as humans and persuade consumers to send money to scammers, a Kansas City Fed paper says.
By Patrick Cooley • Nov. 18, 2024 -
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State interchange fee legislation makes meager progress
As Illinois fights to preserve its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with similar legislative proposals.
By Lynne Marek • Nov. 18, 2024 -
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OpinionPayments players should embrace digital currencies
“Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.
By Ryan Miller • Nov. 15, 2024 -
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ColumnDurbin gives credit card bill another Senate push
Senate Democrat Dick Durbin is intent on pursuing the Credit Card Competition Act, and perhaps preserving his political future.
By Lynne Marek • Nov. 14, 2024 -
Courtesy of Shift4. Shift4 CEO Jared Isaacman
Shift4 CEO bets on crypto and Trump
The payment processor’s CEO, Jared Isaacman, plans to plunge ahead with a recent crypto initiative, wagering that President-elect Trump will give a boost to the effort.
By Patrick Cooley • Nov. 14, 2024 -
Lynne Marek/Payments Dive
Private sector merits ‘significant’ payments footprint, Waller says
The Federal Reserve must consider when to make up for private sector shortcomings in payments, while keeping its role limited, board member Christopher Waller said Tuesday.
By Tatiana Walk-Morris • Nov. 13, 2024 -
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Klarna files for IPO
The buy now, pay later company announced Tuesday it had filed confidentially with the Securities and Exchange Commission for an initial public offering.
By Patrick Cooley • Nov. 13, 2024 -
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Q&AOpen banking to move toward FDX standard
Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final 1033 rule, one Jack Henry executive said.
By Lynne Marek • Nov. 11, 2024 -
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How Trump’s administration may rework payments policies
The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.
By Lynne Marek and Patrick Cooley • Nov. 7, 2024 -
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FTC sues fintech Dave over marketing, fees
The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.
By Rajashree Chakravarty • Nov. 7, 2024 -
Permission granted by Cross River Bank
Cross River drops lawsuit against Fiserv unit
The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year.
By Rajashree Chakravarty • Nov. 7, 2024
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