Regulations & Policy: Page 2


  • Diagram of FedNow payments
    Image attribution tooltip
    Federal Reserve. "FedNow Instant Payments". Retrieved from FRB Services.

    Jack Henry, ACI pounce on FedNow

    The companies are gearing up to add U.S. real-time services for customers with the mid-year launch of the Federal Reserve instant payments system.

    By March 3, 2023
  • Stack of credit cards spread out
    Image attribution tooltip
    alexialex via Getty Images

    Synchrony, Bread brace for potential late fee cap impact

    If a late fee cap is imposed by the Consumer Financial Protection Bureau, the companies may curtail credit and seek other offsets, executives said this week.

    By March 3, 2023
  • Animated computer with face on it and verification seemingly in process Explore the Trendline
    Image attribution tooltip
    Elena Lukyanova via Getty Images
    Trendline

    Growing fraud boosts focus on identifying customers

    With cybercriminals morphing and multiplying in the COVID-19 era, businesses on the counter-attack and government regulators are racing to keep up.  

    By Payments Dive staff
  • Visa cards stacked and splayed
    Image attribution tooltip
    Justin Sullivan via Getty Images

    Visa aims to lower credit surcharge

    The card network plans to reduce the credit card surcharge that merchants can impose on consumers, but the proposal is facing pushback.

    By March 2, 2023
  • Supreme Court Allows Texas Six Week Abortion Ban To Stand
    Image attribution tooltip
    Kevin Dietsch / Staff via Getty Images

    CFPB’s fate at stake in Supreme Court case

    The high court’s decision could set a precedent for future actions, challenging everything the CFPB has done, said Scott Pearson, a partner in Manatt's consumer financial services practice.

    By Anna Hrushka • March 1, 2023
  • Image attribution tooltip
    Courtesy of Mastercard

    Mastercard embraces nationalism

    The card company isn’t shying away from countries in which the governments are taking a more insular approach to building their payments systems.

    By March 1, 2023
  • Close shot of the U.S. Capitol dome against the bright blue sky.
    Image attribution tooltip
    Brendan Hoffman via Getty Images

    Battle over expected Durbin bill ensues

    A credit union trade group railed against expected credit card processing legislation aimed at Visa and Mastercard before a bill has even been introduced in Congress this year.

    By Feb. 27, 2023
  • cryptocurrency graphic
    Image attribution tooltip
    Dan Kitwood via Getty Images

    Transparency key to crypto’s next phase: Circle CFO

    USDC issuer Circle is moving to become a public company, its CFO said, even as regulatory attention on the space sharpens.

    By Grace Noto • Feb. 24, 2023
  • The Federal Reserve building is seen January 22, 2008 in Washington, DC.
    Image attribution tooltip
    Chip Somodevilla via Getty Images

    FedNow aims to avoid Zelle-type fraud

    As the Federal Reserve prepares for a mid-year launch of its instant payments system, FedNow, it’s zeroing in on anti-fraud tools to protect users.

    By Feb. 23, 2023
  • A$AP Rocky and Klarna team up for global campaign
    Image attribution tooltip
    Courtesy of Klarna

    Klarna touts US as largest market

    The Swedish buy now, pay later provider aims to keep growing in the U.S. with new services despite the intense competition.

    By Feb. 22, 2023
  • Rifle on counter at gun store with hands of two people showing an apparent transaction.
    Image attribution tooltip
    Scott Olson via Getty Images

    Discover to implement gun code in April: report

    The newly published code will be part of Discover’s policy and product update for merchants and payment partners in April, a spokesperson told Reuters.

    By Feb. 21, 2023
  • Entrance to CFPB building
    Image attribution tooltip
    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB warns card issuers on credit reports

    The Consumer Financial Protection Bureau has threatened action over card issuers not reporting full consumer payment data for tracking credit histories.

    By Feb. 21, 2023
  • Window with sticker showing logos for Visa, Mastercard and American Express.
    Image attribution tooltip
    Scott Olson via Getty Images

    Credit card debt surpasses pre-pandemic levels: Fed

    Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

    By Tatiana Walk-Morris • Feb. 17, 2023
  • Federal Reserve building in Washington, D.C.
    Image attribution tooltip
    Chip Somodevilla via Getty Images
    Column

    Debit routing rule tables turned on regulators

    Bank card issuers say there isn’t enough network competition to meet the July debit card routing rule deadline, adopting regulators’ argument to push back.

    By Feb. 16, 2023
  • Juice bar merchant takes card for transaction.
    Image attribution tooltip
    jacoblund via Getty Images

    Retailers oppose banks seeking more time on debit routing rule

    Banks requested a delay in implementing a debit routing rule, but a retail and merchant trade group argued it’s high time the card issuers comply.

    By Feb. 15, 2023
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
    Image attribution tooltip
    Lynne Marek/Payments Dive

    Crypto regulation shouldn’t smother innovation: Fed’s Waller

    The Fed governor highlighted the benefits of smart contracts, as well as the potential for tokenization as a privacy tool, in a speech Friday.

    By Rajashree Chakravarty • Feb. 13, 2023
  • Guns are shown in a gun store as a person passes by
    Image attribution tooltip
    Spencer Platt / Staff via Getty Images

    Gun merchant code to be published this month

    Once it’s published, use of the new code “is eventually left up to the users in the industry,” an ISO spokesperson said.

    By Feb. 13, 2023
  • Consumer Financial Protection Bureau Director Rohit Chopra with his hand raised while speaking.
    Image attribution tooltip
    Win McNamee via Getty Images

    CFPB attacks credit card late fees

    The Consumer Financial Protection Bureau proposed a new rule that would effectively cap credit card late fees and potentially save Americans $9 billion.

    By Feb. 1, 2023
  • Image attribution tooltip
    Dan Kitwood / Staff via Getty Images
    Deep Dive

    Crypto may yet upend payments

    Nearly 2,000 crypto workers have been laid off in 2023, but the value of Bitcoin climbed enough in January for Goldman Sachs to take note.

    By Gabrielle Saulsbery • Jan. 30, 2023
  • elizabeth warren
    Image attribution tooltip
    Spencer Platt via Getty Images

    Warren calls for more regulation of crypto

    The Democratic senator called SEC Chair Gary Gensler “the right leader to get the job done,” but said regulators need to do more to bolster their scrutiny of the industry.

    By Anna Hrushka • Jan. 26, 2023
  • Cryptocurrencies laying on a flat surface next to a smartphone that shows a chart with zig-zagging lines.
    Image attribution tooltip
    Jack Taylor via Getty Images

    Visa stands by crypto

    At the card giant’s annual meeting Tuesday, CEO Al Kelly showed no signs of backing off crypto. He also suggested Visa’s management team may change after he exits as CEO.

    By Jan. 26, 2023
  • A person in a coat rides a bicycle holding a red DoorDash bag.
    Image attribution tooltip
    Michael M. Santiago/Getty Images via Getty Images

    DailyPay lands $260M in debt financing

    The early wage access provider has been raising capital to fund expansion in the U.S. and internationally.

    By Jan. 26, 2023
  • Phoenix midtown skyline with a Saguaro Cactus and other desert scenery in the foreground.
    Image attribution tooltip
    Davel5957/iStock via Getty Images
    Opinion

    Why the Arizona AG opinion on EWA matters

    “The Arizona decision is in line with decades of decisions across the country that have found that non-recourse products are not loans,” the Payactiv authors write in this opinion piece.

    By Aaron Marienthal and Molly Jones • Jan. 24, 2023
  • Image attribution tooltip
    Justin Sullivan / Staff via Getty Images

    Big banks to launch digital wallet operated by Zelle parent: report

    The wallet, which is expected to launch in the second half of the year, aims to compete with PayPal and Apple, sources told The Wall Street Journal. But serious competition may take a while, an analyst said.

    By Anna Hrushka • Jan. 24, 2023
  • Global currency symbols with skyscrapers in background
    Image attribution tooltip
    metamorworks via Getty Images

    International coalition pursues cross-border payments improvements

    In a new report, a group of international organizations give a broad overview of routes for improving international payments systems.

    By Jan. 23, 2023
  • Hand holding phone
    Image attribution tooltip
    Courtesy of Splitit/Jenny Volanakis

    Splitit targets tech assets for acquisition

    Splitit isn’t interested in being acquired, but the BNPL provider believes there may be assets ripe for the picking amid consolidation.

    By Jan. 19, 2023