Regulations & Policy: Page 14
-
Lynne Marek/Payments Dive
Fed courts nonbanks for FedNow growth
The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow.
By Lynne Marek • April 22, 2024 -
Chip Somodevilla via Getty Images
House committee advances EWA bill
The Republican-backed and industry-friendly bill was passed by the House Financial Services Committee despite pushback from Democratic lawmakers.
By James Pothen • April 18, 2024 -
Explore the Trendline➔
ArtemisDiana via Getty Images
TrendlineCross-border payments targeted for upgrades
When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.
By Payments Dive staff -
Scott Olson via Getty Images
Discover adds $799M to bolster reserves
The card network opted to increase the card misclassification remediation reserve, based in part on discussions with regulators, executives said Thursday.
By Caitlin Mullen • April 18, 2024 -
LD via Getty Images
Fed keeps up CBDC research
Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.
By Lynne Marek • April 17, 2024 -
Joe Raedle / Staff via Getty Images
CFPB $8 late fee cap edges toward reality
Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.
By Lynne Marek • April 17, 2024 -
Doucefleur via Getty Images
CFPB notes ‘growing financialization’ of medical, rental payments
The bureau has received about 15,000 complaints in the last two years concerning medical debt collectors, according to General Counsel Seth Frotman.
By James Pothen • April 16, 2024 -
Joe Raedle via Getty Images
OpinionCFPB’s new late fee cap charts ‘a better way,’ says Sunbit CEO
“The credit card industry should take a page from innovators, instead of relying on yesterday’s fee models,” argues the CEO of the payment tools provider.
By Arad Levertov • April 16, 2024 -
Permission granted by Uber Health
FlexWage wins Vermont EWA carve-out
Earned wage access provider FlexWage has received leeway from the Vermont Department of Financial Regulation to operate in the state without a lender or money transmitter license.
By Lynne Marek • April 15, 2024 -
E4C via Getty Images
US, Europe lock arms on payments regulation
U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.
By Lynne Marek • April 15, 2024 -
Ray Tan via Getty Images
EWA providers seek to steer state legislation
Payactiv, DailyPay and other earned wage access providers teamed up in calling on the governor of Kansas to pass legislation similar to laws recently enacted in three other states.
By Lynne Marek • April 11, 2024 -
Permission granted by Discover
Capital One’s Discover bid tops biggest Q1 tech-related deals
The proposed Capital One-Discover merger made the list because of fintech issues that are at stake in the $35.3 billion deal.
By Alexei Alexis • April 10, 2024 -
Anna Moneymaker / Staff via Getty Images
CFPB, DOJ boost teamwork on cases
The bureau will refer “potentially criminal conduct,” including “anti-competitive mischief,” to the DOJ for action, CFPB Director Rohit Chopra said Monday.
By James Pothen • April 9, 2024 -
Alex Wong/Getty Images via Getty Images
Visa, Mastercard CEOs throw hearing off track
Senate Judiciary Committee Chairman Dick Durbin postponed a plan to call credit card chieftains on the capitol carpet at a Tuesday hearing, but he’s still aiming to get them to Washington.
By Lynne Marek • April 9, 2024 -
Win McNamee via Getty Images
Virtual marketplaces risk real losses: CFPB
Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.
By James Pothen • April 5, 2024 -
South_agency/E+ via Getty Images
OpinionEWA shouldn’t be regulated like loans
“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.
By Darcy Tuer • April 5, 2024 -
Alex Wong via Getty Images
NY Fed enters cross-border tokenization effort
The central bank will join six other central banks in exploring blockchain technology to speed up international payments.
By James Pothen • April 4, 2024 -
Permission granted by Treasury Prime
Treasury Prime, Narmi partner to offer FedNow service
The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.
By Rajashree Chakravarty • April 3, 2024 -
Kevin Dietsch via Getty Images
Credit card complaints jumped 38% last year: CFPB
The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.
By James Pothen • April 3, 2024 -
Scott Olson via Getty Images
How Amex is entangled in the Visa-Mastercard settlement
The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same.
By Lynne Marek • April 1, 2024 -
Brandon Bell/Getty Images via Getty Images
Warren reiterates call for gun MCC guidance
The Massachusetts senator and 32 other Democrats stressed the need for federal guidance on the gun merchant category code as states diverge.
By Caitlin Mullen • March 29, 2024 -
Alex Wong via Getty Images
CFPB targets ‘bait-and-switch’ card reward programs
Major credit card providers saddle rewards programs with fees and interest, burdening consumers who carry balances, CFPB Director Rohit Chopra said.
By James Pothen • March 27, 2024 -
Scott Barbour via Getty Images
Private plaintiffs follow DOJ’s Apple antitrust case
The follow-on class actions are substantively similar to the federal government’s case, making them dependent on the agency’s lead in breaking the company’s smartphone stranglehold.
By Robert Freedman • March 27, 2024 -
Michael M. Santiago via Getty Images
X lands money licenses in Illinois, New Mexico
The social media platform is now nearly halfway to securing the state licenses needed to fulfill owner Elon Musk’s vision of a nationwide payments app.
By James Pothen • March 27, 2024 -
Caitlin Mullen/Payments Dive
NY Assembly bill counters governor on BNPL
A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.
By Lynne Marek • March 27, 2024 -
Win McNamee via Getty Images
Capital One pledges to give Discover’s network a boost
Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.
By Caitlin Mullen • March 26, 2024
Previous
