Regulations & Policy: Page 2

  • Jack Dorsey, Block CEO
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    Joe Raedle / Staff via Getty Images

    Lawsuit filed against Block

    A class action lawsuit has been filed against Cash App Investing and parent company Block over a December 2021 data breach.

    By Aug. 25, 2022
  • The exterior of the Consumer Financial Protection Bureau
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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB seeks more credit card transparency

    The Consumer Financial Protection Bureau is considering requiring top credit card issuers to share more information on their products to increase transparency for consumers.

    By Aug. 24, 2022
  • Jimmy John's restaurant 2021, QSR
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    Courtesy of Jimmy John's

    DailyPay releases card with Visa

    The earned wage access provider introduced the new debit card after major changes in leadership earlier this year.

    By Tatiana Walk-Morris • Aug. 23, 2022
  • Entrance to CFPB building
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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB spotlights payments risks

    The Consumer Financial Protection Bureau is “carefully monitoring” payments innovations and risks they pose to consumers, the agency said in a report.

    By Aug. 22, 2022
  • A group of six Federal Reserve Board members stand shoulder to shoulder with U.S. and state flags behind them.
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    Drew Angerer via Getty Images

    FedNow to launch by mid-2023, Fed official says

    The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.

    By Aug. 19, 2022
  • A doctor holding tablets of medicine explains options to a patient in a hospital room.
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    iStock via Getty Images

    Paysign aims to grow prepaid card services for drugs

    Paysign aims to boost its prepaid card services for consumers shouldering the high cost of pharmaceuticals by offering drugmakers transparent pricing for such services.

    By Joe Burns • Aug. 16, 2022
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    Anna Moneymaker via Getty Images

    Let the credit card battle begin

    Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.

    By Aug. 8, 2022
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    Courtesy of Megan Cheung

    Visa, Mastercard react to Pornhub ruling

    The two card companies took action against an advertising entity tangled up in a California lawsuit against the pornography website, which the plaintiff alleges illicitly posted images of her when she was a teenager.

    By Aug. 5, 2022
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    anyaberkut via Getty Images

    FIS extends tie with Chargebacks911 to fight fraud

    The partnership is aimed at arming merchants with digital tools to reduce chargebacks, cut costs and combat fraud.

    By Aug. 5, 2022
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    Joe Raedle via Getty Images

    Will a swoon in valuations affect Block’s Afterpay?

    Block acquired Afterpay for what was ultimately $13.9 billion in stock, but a string of fintechs writing down valuations in the face of economic pressures raises the possibility Block will be forced to do the same.

    By Aug. 2, 2022
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    Justin Sullivan via Getty Images

    Legislation aimed at Visa, Mastercard lands

    A new bill to curb Visa and Mastercard’s dominance of credit payments is likely to rev up a long-time battle between merchants and card companies.

    By July 29, 2022
  • A person holding a shopping cart stands in front of a row of refrigerators stocked with food at a grocery store.
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    Michael M. Santiago via Getty Images

    Card CEOs react to macroeconomic threats

    Amid talk of a recession, executives with Visa, Mastercard, American Express and Discover are keeping a close eye on inflation, consumer demand and unemployment levels.

    By , July 29, 2022
  • Sen. Dick Durbin with his hand up and another congressional colleague in the background.
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    Chip Somodevilla via Getty Images

    Durbin to lob bill at Visa, Mastercard

    Sen. Dick Durbin is poised to make good on his long-time threat to further rein in the two big U.S. credit card companies Visa and Mastercard with legislation aimed at increasing competition.

    By July 28, 2022
  • Side-by-side screenshots of Instacart's app and website
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    Courtesy of Instacart

    Grocery company Albertsons rolls out SNAP online payment

    The company now offers the purchasing capability at five banners through its own platform as well as the Instacart app.

    By Catherine Douglas Moran , Jeff Wells • July 25, 2022
  • Discover Financial CEO Roger Hochschild
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    Permission granted by Discover

    Discover CEO pelted with queries over loan probe

    Discover Financial Services CEO Roger Hochschild said executives at the company “hope” an internal investigation of its student loan practices concludes this year, as he side-stepped analyst queries on the subject.

    By July 21, 2022
  • money,dinero
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    stock photo via Getty Images

    Deluxe payments business to overtake check-printing

    The company is “transforming from a legacy check-printing company to a payments and data company," CEO Barry McCarthy said.

    By July 21, 2022
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    Khaosai Wongnatthakan via Getty Images

    BNPL will evolve as providers tweak the model

    “Challengers frequently believe BNPL 1.0 is what it is, and will not evolve,” writes Brian Shniderman, CEO of Opy, a U.S. subsidiary of Australian payments fintech Openpay. “But it can, and very recently, it has proven that it will.”

    By Brian Shniderman • July 20, 2022
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    Drew Angerer/Getty Images via Getty Images

    Feds crack down on improper payments

    A federal government report released this week takes aim at the problem of fraudulent public benefit payments, which mushroomed to $281 billion for fiscal year 2021.

    By July 20, 2022
  • Young students sit at individual desks facing the front of the classroom with their hands raised.
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    PeopleImages via Getty Images

    ClassWallet signs string of new state contracts

    Demand for ClassWallet’s education digital payments tools increased during the coronavirus pandemic, and that rise has continued this year in the company’s signing of new state contracts. 

    By July 19, 2022
  • Modern Treasury CEO Dimitri Dadiomov
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    Permission granted by Terry Banks

    Modern Treasury expands on demand, readies for FedNow

    The company has more than doubled its headcount over the past year to meet demand for its payments software from clients like Marqeta and Gusto. Now, it plans more expansion for real-time services. 

    By July 18, 2022
  • Consumer Financial Protection Bureau Director Rohit Chopra with his hand raised while speaking.
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    Win McNamee via Getty Images

    CFPB's Chopra reminds payments players they're in his sights

    In a blog post this week, the director reiterated that payments processors, credit card issuers and debt collectors are attracting scrutiny from his agency.

    By July 14, 2022
  • Key on keyboard that says "Pay Now."
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    abdoudz via Getty Images
    Deep Dive

    FedNow chases real-time payments front-runners

    The Federal Reserve plans to unleash a U.S. real-time payments system next year in the form of FedNow, but it’s an open question as to whether, or how, consumers and businesses will adopt instant payments.

    By July 14, 2022
  • Dollar bills and finance and banking on digital stock market financial exchange
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    SARINYAPINNGAM via Getty Images

    Venture dollars for fintech drop, again

    Fintech companies raised $20.4 billion over 1,225 deals in the quarter, the lowest number of deals and funding since the fourth quarter of 2020.

    By July 13, 2022
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    Drew Angerer via Getty Images

    Brainard urges more oversight of crypto

    The Federal Reserve vice chair on Friday said the May collapse of the Terra stablecoin, which wiped out millions of dollars of value in a matter of days, was “reminiscent of classic runs throughout history.”

    By Anna Hrushka • July 11, 2022
  • Grocery worker at checkout
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    David McNew via Getty Images

    Mastercard reports consumer spending increase despite inflation

    In-store spending in June rose 11.7% over last year while e-commerce sales grew at a slower 1.1% pace, excluding auto and gas expenditures, according to Mastercard.

    By July 11, 2022