Regulations & Policy: Page 13
-
Anna Moneymaker / Staff via Getty Images
EWA providers crusade against CFPB rule proposal
Earned wage access providers that backed state laws friendly to the industry are preparing for a fight over the Consumer Financial Protection Bureau’s plan to treat such payments like loans.
By Lynne Marek • Aug. 21, 2024 -
Creative via Getty Images
Stripe, Zip partner on BNPL processing
The buy now, pay later firm will partner with Stripe, adding another major payments player tie to a set of recent high-profile collaborations.
By Patrick Cooley • Aug. 21, 2024 -
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 -
Win McNamee / Staff via Getty Images
Capital One, Citi plan to join FedNow in ‘near future’
The two big banks say they’ll soon connect to the Federal Reserve’s new instant payment system, even as other major banks remain on the sidelines.
By Lynne Marek • Aug. 20, 2024 -
Justin Sullivan via Getty Images
Visa-Mastercard settlement claims deadline postponed
Merchants seeking a piece of the $5.5 billion settlement now have until February 2025 to file claims, a federal judge overseeing the class action said.
By Lyle Moran • Aug. 19, 2024 -
Lynne Marek/Payments Dive
FedNow to add more fraud tools, Fed official says
The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.
By Lynne Marek • Aug. 16, 2024 -
Joe Raedle / Staff via Getty Images
Q&ACredit card users struggle with inflation
JD Power’s annual credit card survey found that more than half of U.S. credit card users don’t pay their balances in full every month, and less than half are considered financially healthy.
By Patrick Cooley • Aug. 16, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan, Zelle may have upper hand if litigation ensues
If the banks that own Zelle’s parent battle the Consumer Financial Protection Bureau in court, they may find some federal judges open to their arguments, lawyers specializing in the area said.
By Patrick Cooley • Aug. 15, 2024 -
Win McNamee via Getty Images
Fintechs ramp up lobbying over earned wage access, crypto
Chime, PayPal and Block, for example, spent more on lobbying in the first half of 2024 than for the same span last year, OpenSecrets reported.
By Suman Bhattacharyya • Aug. 15, 2024 -
Spencer Platt via Getty Images
Senators ask Dimon to justify new checking account fees
“JPMorgan Chase is the industry leader when it comes to usurious overdraft fees,” Sens. Elizabeth Warren, D-MA, and Chris Van Hollen, D-MD, wrote in a letter sent Friday.
By Rajashree Chakravarty • Aug. 15, 2024 -
Win McNamee / Staff via Getty Images
Capital One insists Discover deal won’t increase card fees
The bank and credit card issuer told regulators in a letter that competition will require it to keep its products fairly priced.
By Patrick Cooley • Aug. 14, 2024 -
marchmeena29 via Getty Images
OpinionWhy the CFPB’s recent EWA rule is wrong
The Consumer Financial Protection Bureau’s earned wage access rule “could outright deny EWA to the wage earners who need it the most,” writes a trade group CEO.
By Brian Tate • Aug. 14, 2024 -
Drew Angerer via Getty Images
How embedded payments are changing the way we pay
As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.
By Patrick Cooley • Aug. 13, 2024 -
tattywelshie via Getty Images
Q&AEmployers react to CFPB’s new stance on EWA
Employers are responding quickly to the Consumer Financial Protection Bureau’s rule noting earned wage access services may constitute lending, says a Chime executive.
By Lynne Marek • Aug. 12, 2024 -
Kent Nishimura / Stringer via Getty Images
Capital One-Discover antitrust concerns may be overblown
Capital One’s proposed acquisition of the smaller Discover seems “too small to be a core antitrust concern,” said Barry Barnett, an antitrust lawyer.
By Caitlin Mullen • Aug. 9, 2024 -
Permission granted by Global Payments
Global Payments executive promoted to president, COO
Bob Cortopassi, who was tapped for the C-suite post Tuesday, has nearly 30 years of experience in the industry.
By Patrick Cooley • Aug. 6, 2024 -
bernie_photo via Getty Images
Q&ACredit card delinquencies rise even as credit limits are extended
The two developments stem from greater use of credit cards, and could have implications for some businesses, says a Bain & Company analyst.
By Patrick Cooley • Aug. 6, 2024 -
Courtesy of Apple
Apple services revenue rises with boost from payments
The company said it raised a record $24.2 billion from services in the most recent quarter, a 14% year-over-year increase.
By Patrick Cooley • Aug. 5, 2024 -
Lynne Marek/Payments Dive
FedNow ‘could lower fees’ in future, analyst reports
The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.
By Lynne Marek • Aug. 5, 2024 -
Spencer Platt via Getty Images
JPMorgan threatens to sue CFPB over Zelle
The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.
By Dan Ennis • Aug. 5, 2024 -
andresr via Getty Images
OpinionCredit Card Competition proposal should become law
“In the aftermath of the CrowdStrike outage, Congress and state lawmakers should look for opportunities to build backups and redundancies into critical online systems,” writes a payments consultant.
By Dan Swanson • Aug. 2, 2024 -
Lynne Marek/Payments Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
putilich via Getty Images
Q&AHow artificial intelligence can improve payments fraud prevention
Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.
By Patrick Cooley • July 31, 2024 -
Justin Sullivan / Staff via Getty Images
ColumnIs Visa readying for an expiration of cards?
Slowing card volume growth in the network giant’s earnings report this month revived questions about the longevity of its core business.
By Lynne Marek • July 31, 2024 -
Permission granted by Victoria Reynolds
Q&A5 questions for Brex’s new compliance chief
When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.
By Caitlin Mullen • July 31, 2024 -
Matt Winkelmeyer via Getty Images
Stripe buys software rival Lemon Squeezy
The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.
By Patrick Cooley • July 30, 2024
Previous
