CFPB-Google battle likely to stretch into next administration

The Consumer Financial Protection Bureau says Google’s payment unit failed to explain why it was denying customer requests for refunds. Google told the agency to back off in a lawsuit.

By Patrick Cooley • Dec. 10, 2024

CFPB sues Comerica for ‘systematically failing’ federal benefits receivers

The federal agency alleged the bank fell short of its responsibility to some 3.4 million cardholders who depend on receiving federal benefits through prepaid debit cards.

By Gabrielle Saulsbery • Dec. 9, 2024

Explore the Trendline➔

Stablecoins enter the payments universe

Stablecoins are gaining ground thanks to passage of the Genius Act, forcing companies to consider competitive strategies in the digital realm.

By Payments Dive staff

Fiserv cuts as many as 1,500 employees, analyst estimates

The payments processor confirmed it had eliminated jobs. A Wolfe Research analyst estimated the reduction may impact as much as 3.7% of the workforce.

By Patrick Cooley • Dec. 6, 2024

Crypto leaders have knives out for attorneys leaving the SEC

Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.

By Robert Freedman • Dec. 6, 2024

Fiserv CEO tapped to lead Social Security Administration

President-elect Trump announced the nomination of Frank Bisignano late Wednesday, and the payments processor confirmed the appointment Thursday.

By Lynne Marek • Dec. 5, 2024

Trump taps Shift4’s Isaacman to run NASA

The CEO of the payment and technology company has led two space missions for the private company SpaceX.

By Patrick Cooley • Dec. 4, 2024

FedNow racks up nearly $246M in annual expenses

The Federal Reserve projects the real-time payment system’s costs will climb slightly next year, from the $245.5 million it expects to spend this year.

By Lynne Marek • Dec. 4, 2024

Worldpay exec talks digital wallet security

The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.

By Patrick Cooley • Dec. 3, 2024

CFPB proposes rule to rein in data brokers’ sale of consumer information

With the proposal, the federal agency aims to crack down on fraudsters and others seeking to use sensitive personal information for illicit activities.

By Lynne Marek • Dec. 3, 2024

Musk calls for end to CFPB

The presumed Trump Cabinet appointee said there “are too many duplicative regulatory agencies,” calling out the consumer watchdog specifically Wednesday.

By Gabrielle Saulsbery • Dec. 2, 2024

Credit card delinquencies mount, Fed says

Consumers’ credit card delinquencies have risen this year, along with their balances, according to an annual Federal Reserve Board report.

By Lynne Marek • Nov. 27, 2024

Democrats bash CapOne-Discover merger proposal

A group of Congress members told federal regulators to consider Capital One’s regulatory infractions in reviewing its proposed acquisition.

By Patrick Cooley • Nov. 26, 2024

Ex-PayPal CEO opines on everything from crypto to Cobol

Bill Harris, who briefly led the payments pioneer, talks about the U.S. lagging in payments innovation, and the potential of stablecoins.

By Lynne Marek • Nov. 26, 2024

Visa to boost credit card fees next year

The network is expected to increase some fees it charges for credit card payments, according to a notice referenced during a Senate hearing last week.

By Lynne Marek • Nov. 25, 2024

Push payment scam losses to surpass $3B by 2028: report

U.S. fraud losses due to push payment scams are rising, partly because of more real-time payments, according to a report from the payments company ACI Worldwide.

By Tatiana Walk-Morris • Nov. 25, 2024

Richmond Fed seeks more CapOne-Discover input

The regional Fed bank, which has purview for the proposed merger, demanded more information from the bank as it considers whether to approve the deal.

By Lynne Marek • Nov. 22, 2024

CFPB tweaks big tech payments rule

In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.

By Lynne Marek • Nov. 21, 2024

DC attorney general sues EarnIn over ‘deceptive’ marketing

The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.

By Dan Ennis • Nov. 20, 2024

How passing the CCCA would benefit nonprofits

"Nonprofits and charities need every penny they can get to make effective change in times of crisis, yet big banks and credit card companies continue to take their cut," writes one policy analyst.

By Hassan Tyler • Nov. 20, 2024

Senate grills Visa, Mastercard executives over swipe fees

Executives from the card networks were on the defensive Tuesday when members of the Senate Judiciary Committee berated them over high fees merchants must pay to accept credit card payments.

By Lynne Marek • Nov. 19, 2024

Scams ensnare even sophisticated consumers, Fed says

Criminals leverage advanced technology to make so-called mule accounts that pass as humans and persuade consumers to send money to scammers, a Kansas City Fed paper says.

By Patrick Cooley • Nov. 18, 2024

State interchange fee legislation makes meager progress

As Illinois fights to preserve its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with similar legislative proposals.

By Lynne Marek • Nov. 18, 2024

Payments players should embrace digital currencies

“Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.

By Ryan Miller • Nov. 15, 2024

Durbin gives credit card bill another Senate push

Senate Democrat Dick Durbin is intent on pursuing the Credit Card Competition Act, and perhaps preserving his political future.

By Lynne Marek • Nov. 14, 2024

Shift4 CEO bets on crypto and Trump

The payment processor’s CEO, Jared Isaacman, plans to plunge ahead with a recent crypto initiative, wagering that President-elect Trump will give a boost to the effort.

By Patrick Cooley • Nov. 14, 2024