Regulations & Policy: Page
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Lynne Marek/Payments Dive
Private sector merits ‘significant’ payments footprint, Waller says
The Federal Reserve must consider when to make up for private sector shortcomings in payments, while keeping its role limited, board member Christopher Waller said Tuesday.
By Tatiana Walk-Morris • Nov. 13, 2024 -
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Klarna files for IPO
The buy now, pay later company announced Tuesday it had filed confidentially with the Securities and Exchange Commission for an initial public offering.
By Patrick Cooley • Nov. 13, 2024 -
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TrendlineStablecoins 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 -
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Q&AOpen banking to move toward FDX standard
Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final 1033 rule, one Jack Henry executive said.
By Lynne Marek • Nov. 11, 2024 -
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How Trump’s administration may rework payments policies
The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.
By Lynne Marek and Patrick Cooley • Nov. 7, 2024 -
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FTC sues fintech Dave over marketing, fees
The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.
By Rajashree Chakravarty • Nov. 7, 2024 -
Permission granted by Cross River Bank
Cross River drops lawsuit against Fiserv unit
The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year.
By Rajashree Chakravarty • Nov. 7, 2024 -
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OpinionDOJ’s Visa suit is unfounded
The government acknowledges payment volumes are rising, in part because of fintech growth. This competition wouldn’t be happening if a single entity, like Visa, controlled the ecosystem.
By Aurelien Portuese • Nov. 5, 2024 -
Lynne Marek/Payments Dive
Fed aims to make instant payments the norm
“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference.
By Lynne Marek and Patrick Cooley • Nov. 5, 2024 -
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DOJ’s Visa lawsuit could affect Capital One-Discover review
If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.
By Caitlin Mullen • Nov. 5, 2024 -
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Stablecoins face obstacles to widespread adoption
The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.
By Patrick Cooley • Nov. 4, 2024 -
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OpinionIs the FTC targeting chargeback service providers?
“For better or for worse, applying pressure to payments organizations to ferret out bad-merchant actors seems to be an effective way for the FTC to make private industry police the merchant marketplace,” writes an industry lawyer.
By Edward A. Marshall • Nov. 1, 2024 -
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AI increases fraud risk, fintechs say
Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.
By Patrick Cooley • Oct. 31, 2024 -
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Visa CEO stands fast against DOJ
Visa CEO Ryan McInerney took a defiant stance Tuesday regarding the Justice Department’s lawsuit against the card network company.
By Lynne Marek • Oct. 30, 2024 -
Caitlin Mullen/Payments Dive, data from Fiserv
Fiserv CEO dishes on making mergers work
In addition to pulling back the curtain on integrating Fiserv acquisitions, Frank Bisignano offered predictions on plastic cards and AI at a conference Monday.
By Patrick Cooley • Oct. 30, 2024 -
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How open banking will shape the future of payments
The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.
By Patrick Cooley • Oct. 29, 2024 -
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Cable TV, advertisers ask appeals court to block FTC ‘click-to-cancel’ rule
The companies call the new regulation arbitrary and capricious, carrying a presumption that subscription services are deceptive.
By Justin Bachman • Oct. 28, 2024 -
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Chopra defends CFPB open banking rule in face of lawsuit
Consumer Financial Protection Bureau Director Rohit Chopra called out bank litigants that sued over the rule, saying he didn’t think they’d even read it.
By Patrick Cooley • Oct. 28, 2024 -
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OpinionIllinois should abandon interchange law
“Illinois has made a hasty decision that, if implemented, would have government change our payments system that functions so well that we barely notice it,” writes a trade group CEO.
By Jodie Kelley • Oct. 25, 2024 -
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Capital One-Discover deal draws NY scrutiny
New York Attorney General Letitia James is probing the proposed acquisition’s effects on competition, arguing “often vulnerable New Yorkers with subprime credit scores” could be negatively impacted.
By Caitlin Mullen • Oct. 25, 2024 -
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Industry balks at FDX standard-setting monopoly
Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.
By Patrick Cooley • Oct. 24, 2024 -
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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 -
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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 -
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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 -
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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 -
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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
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