Regulations & Policy: Page
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Capital One-Discover antitrust concerns may be overblown
Capital One’s proposed acquisition of the smaller Discover seems “too small to be a core antitrust concern,” said Barry Barnett, an antitrust lawyer.
By Caitlin Mullen • Aug. 9, 2024 -
Permission granted by Global Payments
Global Payments executive promoted to president, COO
Bob Cortopassi, who was tapped for the C-suite post Tuesday, has nearly 30 years of experience in the industry.
By Patrick Cooley • Aug. 6, 2024 -
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TrendlineTop 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 -
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Q&ACredit card delinquencies rise even as credit limits are extended
The two developments stem from greater use of credit cards, and could have implications for some businesses, says a Bain & Company analyst.
By Patrick Cooley • Aug. 6, 2024 -
Courtesy of Apple
Apple services revenue rises with boost from payments
The company said it raised a record $24.2 billion from services in the most recent quarter, a 14% year-over-year increase.
By Patrick Cooley • Aug. 5, 2024 -
Lynne Marek/Payments Dive
FedNow ‘could lower fees’ in future, analyst reports
The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.
By Lynne Marek • Aug. 5, 2024 -
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JPMorgan threatens to sue CFPB over Zelle
The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.
By Dan Ennis • Aug. 5, 2024 -
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OpinionCredit Card Competition proposal should become law
“In the aftermath of the CrowdStrike outage, Congress and state lawmakers should look for opportunities to build backups and redundancies into critical online systems,” writes a payments consultant.
By Dan Swanson • Aug. 2, 2024 -
Lynne Marek/Payments Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
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Q&AHow artificial intelligence can improve payments fraud prevention
Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.
By Patrick Cooley • July 31, 2024 -
Justin Sullivan / Staff via Getty Images
ColumnIs Visa readying for an expiration of cards?
Slowing card volume growth in the network giant’s earnings report this month revived questions about the longevity of its core business.
By Lynne Marek • July 31, 2024 -
Permission granted by Victoria Reynolds
Q&A5 questions for Brex’s new compliance chief
When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.
By Caitlin Mullen • July 31, 2024 -
Matt Winkelmeyer via Getty Images
Stripe buys software rival Lemon Squeezy
The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.
By Patrick Cooley • July 30, 2024 -
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Affirm says CFPB’s proposed BNPL rules will confuse customers
In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.
By Patrick Cooley • July 29, 2024 -
Lynne Marek/Payments Dive
OpinionHow to speed up FedNow adoption
“Interfaces need to be standardized to ensure a consistent and reliable payment experience for businesses and consumers,” writes one payments software executive.
By Ani Narayan • July 26, 2024 -
Courtesy of Revolut Press Kit
Revolut faces more fraud claims than other UK banks: report
The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.
By Gabrielle Saulsbery • July 25, 2024 -
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Zelle, big banks challenge senators on scam reimbursements
Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
By Patrick Cooley • July 25, 2024 -
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Q&AClair CEO backs CFPB rule proposal on EWA
Nico Simko supports the Consumer Financial Protection Bureau’s recent rule proposal, and it may be a competitive advantage for him.
By Lynne Marek • July 25, 2024 -
Courtesy of Mastercard
FTC demands pricing input from Mastercard, others
The Federal Trade Commission demanded information from eight companies, including the card network, to better understand how consumer data is being used in the pricing of products and services.
By Lynne Marek • July 23, 2024 -
Courtesy of Green Dot
Fed fines Green Dot $44M over prepaid cards
The consent order has been expected since February, when Green Dot revealed that reasonable associated losses could total $50 million.
By Gabrielle Saulsbery • July 23, 2024 -
Joe Raedle / Staff via Getty Images
Capital One-Discover deal critics, supporters sound off
While some community groups spoke in favor of the $35.3 billion merger at the Friday virtual meeting, a raft of critics urged regulators to block the deal.
By Caitlin Mullen • July 21, 2024 -
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6 viewpoints from the CFPB’s director that may affect payments
“We are looking a lot at the convergence of payments and commerce and the extent to which a very big player could use that to shatter that wall between banking and commerce,” the agency’s director, Rohit Chopra, said this month.
By Suman Bhattacharyya • July 19, 2024 -
Anna Moneymaker via Getty Images
CFPB to apply lending laws to EWA
The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.
By Lynne Marek • July 18, 2024 -
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Opponents of Capital One-Discover merger to air grievances
Consumer advocates say the merger will stifle competition and give the combined company an easy avenue to raise fees on card payments.
By Patrick Cooley • July 18, 2024 -
Lynne Marek/Payments Dive
FedNow zooms past RTP participation in inaugural year
The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.
By Lynne Marek • July 16, 2024 -
Permission granted by Lynne Marek
Prepaid card spending accelerates
The rise of digital wallets hasn't dampened prepaid card use, including the payroll cards some employers use to pay their workers.
By Patrick Cooley • July 16, 2024
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