DOJ’s Visa lawsuit could affect Capital One-Discover review

If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.

By Caitlin Mullen • Nov. 5, 2024

Stablecoins face obstacles to widespread adoption

The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.

By Patrick Cooley • Nov. 4, 2024

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Payments 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

Is the FTC targeting chargeback service providers?

“For better or for worse, applying pressure to payments organizations to ferret out bad-merchant actors seems to be an effective way for the FTC to make private industry police the merchant marketplace,” writes an industry lawyer.

By Edward A. Marshall • Nov. 1, 2024

AI increases fraud risk, fintechs say

Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.

By Patrick Cooley • Oct. 31, 2024

Visa CEO stands fast against DOJ

Visa CEO Ryan McInerney took a defiant stance Tuesday regarding the Justice Department’s lawsuit against the card network company.

By Lynne Marek • Oct. 30, 2024

Fiserv CEO dishes on making mergers work

In addition to pulling back the curtain on integrating Fiserv acquisitions, Frank Bisignano offered predictions on plastic cards and AI at a conference Monday.

By Patrick Cooley • Oct. 30, 2024

How open banking will shape the future of payments

The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.

By Patrick Cooley • Oct. 29, 2024

Cable TV, advertisers ask appeals court to block FTC ‘click-to-cancel’ rule

The companies call the new regulation arbitrary and capricious, carrying a presumption that subscription services are deceptive.

By Justin Bachman • Oct. 28, 2024

Chopra defends CFPB open banking rule in face of lawsuit

Consumer Financial Protection Bureau Director Rohit Chopra called out bank litigants that sued over the rule, saying he didn’t think they’d even read it.

By Patrick Cooley • Oct. 28, 2024

Illinois should abandon interchange law

“Illinois has made a hasty decision that, if implemented, would have government change our payments system that functions so well that we barely notice it,” writes a trade group CEO.

By Jodie Kelley • Oct. 25, 2024

Capital One-Discover deal draws NY scrutiny

New York Attorney General Letitia James is probing the proposed acquisition’s effects on competition, arguing “often vulnerable New Yorkers with subprime credit scores” could be negatively impacted.

By Caitlin Mullen • Oct. 25, 2024

Industry balks at FDX standard-setting monopoly

Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

By Patrick Cooley • Oct. 24, 2024

Payments trade groups caution World Bank on digital infrastructure

U.S. payments associations urged the World Bank this week to consider interoperability and private sector involvement in its development of a digital public infrastructure.

By Tatiana Walk-Morris • Oct. 24, 2024

Goldman, Apple to pay CFPB $89.8M over Apple Card issues

The bank and tech firms failed to address disputed transactions in their joint Apple Card program, and misled cardholders about interest-bearing products, the bureau alleged.

By Gabrielle Saulsbery • Oct. 23, 2024

Trade groups challenge CFPB’s open banking rule on Day 1

Liability over data security emerges as a top concern as the Bank Policy Institute and a Kentucky trade group and bank sue the bureau, arguing that is has overreached its authority.

By Caitlin Mullen • Oct. 23, 2024

California to begin oversight of EWA

The state instituted regulations Tuesday that will require earned wage access providers to register and be regulated as of next February.

By Lynne Marek • Oct. 23, 2024

CFPB issues final rule on open banking

In a change from last year’s proposal, payment apps are included under the rule. Financial institutions with less than $850 million in assets are exempt.

By Dan Ennis • Oct. 22, 2024

Fiserv may grab competitive edge with new bank charter

The payments processor can undercut rivals on price because it won’t be paying bank fees, say industry consultants.

By Patrick Cooley • Oct. 21, 2024

FTC unveils final ‘click-to-cancel’ rule for consumers

The agency rule targeting recurring payments comes amid a broader effort by the Biden administration to reduce consumer “junk” fees.

By Justin Bachman • Oct. 16, 2024

More authentication leads to fewer approvals

Research from payments software firm Stripe shows credit and debit card transactions using an advanced security tool are less likely to be approved.

By Patrick Cooley • Oct. 15, 2024

Treasury official calls for new regulatory framework

The department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.

By Lynne Marek • Oct. 11, 2024

New York Governor signs gun code law

Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.

By Patrick Cooley • Oct. 10, 2024

Durbin jumps into Illinois interchange law fray

Sen. Dick Durbin threw his weight behind an Illinois law that would nix interchange fees on taxes and tips, supporting the edict in a court document filed Friday.

By Lynne Marek • Oct. 8, 2024

Fiserv nets special banking charter in Georgia

The payments processor is only the second company to win the special bank charter since Georgia made it available.

By Patrick Cooley • Oct. 4, 2024

OCC seeks to halt Illinois card interchange fee law

The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.

By Lynne Marek • Oct. 3, 2024