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

Explore the Trendline➔

Top 5 stories from Payments Dive

Dominant card networks, legacy payments processors and young fintechs are all jockeying to keep up with industry innovations and increased competition.

By Payments Dive staff

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department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.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

Visa expected to temper competitive moves after DOJ action

The card network may bend to emboldened fintech rivals and more assertive merchants following the Justice Department’s antitrust lawsuit.

By Lynne Marek • Oct. 3, 2024

Visa boosts litigation funding ahead of US antitrust fight

The company added $1.5 billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants.

By Justin Bachman • Oct. 1, 2024

Trump interest rate cap draws criticism

Fewer people would be approved for credit cards, and credit card issuers would offer fewer perks, opponents of the longshot proposal say.

By Patrick Cooley • Sept. 30, 2024

Fed dissects consumer use of digital payments

While most U.S. households have a bank account, just under half use a nonbank payment service, Kansas City Federal Reserve Bank research says.

By Tatiana Walk-Morris • Sept. 30, 2024

FDX seeks to become open banking standard-setter

The Consumer Financial Protection Bureau will decide whether an organization’s practices are transparent and balanced enough to set standards for open banking.

By Patrick Cooley • Sept. 26, 2024

Sezzle evolves alongside BNPL industry

The company now offers more products but also faces more regulatory pressure, Sezzle CEO Charlie Youakim told Payments Dive.

By Patrick Cooley • Sept. 25, 2024

DOJ suit accuses Visa of illegal debit payment monopoly

The company threatens merchants with high fees, and "makes its potential rivals business partners to thwart competition in debit card processing," the DOJ says.

By Justin Bachman • Sept. 24, 2024

Visa faces possible DOJ lawsuit, news reports say

The card network may soon be sued by the Department of Justice over its debit card practices, according to multiple news reports citing anonymous sources.

By Lynne Marek • Sept. 24, 2024

Reliant pushes back against CFPB lawsuit

The card services company argued Wednesday that it has always been upfront with customers about fees, and was blindsided by the CFPB's legal action.

By Patrick Cooley • Sept. 19, 2024

Credit Card Competition bill backers keep pressure on

Republican Sen. Roger Marshall has a new ad pitching the Credit Card Competition Act proposal aimed at dislodging Visa and Mastercard’s dominance.

By Lynne Marek • Sept. 19, 2024

Fed payments proposal pits big banks against small rivals

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

By Lynne Marek • Sept. 18, 2024

CFPB takes aim at ATM, debit card fees

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

By Dan Ennis • Sept. 18, 2024