Regulations & Policy: Page 2
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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 Lynne Marek • March 3, 2023 -
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 Caitlin Mullen • March 3, 2023 -
Explore the Trendline➔
Elena Lukyanova via Getty ImagesTrendlineGrowing 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 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 Lynne Marek • March 2, 2023 -
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 -
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 Lynne Marek • March 1, 2023 -
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 Lynne Marek • Feb. 27, 2023 -
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 -
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 Lynne Marek • Feb. 23, 2023 -
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 Lynne Marek • Feb. 22, 2023 -
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 Caitlin Mullen • Feb. 21, 2023 -
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 Lynne Marek • Feb. 21, 2023 -
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 -
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 Lynne Marek • Feb. 16, 2023 -
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 Lynne Marek • Feb. 15, 2023 -
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 -
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 Caitlin Mullen • Feb. 13, 2023 -
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 Lynne Marek • Feb. 1, 2023 -
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 -
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 -
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 Lynne Marek • Jan. 26, 2023 -
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 Lynne Marek • Jan. 26, 2023 -
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 -
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 -
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 Lynne Marek • Jan. 23, 2023 -
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 Suman Bhattacharyya • Jan. 19, 2023