California’s DFPI fines Credova $50K

The buy now, pay later provider catering to gun sellers didn’t inform consumers of potential convenience fees, the state agency said.

By Caitlin Mullen • Jan. 10, 2024

6 payments trends to watch in 2024

Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.

By Lynne Marek , Caitlin Mullen , James Pothen • Jan. 9, 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

Congress members seek clarity on CFPB bid to oversee digital wallets

In two separate letters, both Republican and Democratic lawmakers asked the Consumer Financial Protection Bureau to provide more information on a proposed rule.

By James Pothen • Jan. 9, 2024

Regulator’s BNPL guidance may go beyond banks

The Office of the Comptroller of the Currency directed its advice at national banks, but a Venable attorney expects others to use it to inform their approaches.

By Caitlin Mullen • Jan. 9, 2024

Visa cracks down on surcharge programs

The card network company is boosting efforts to enforce surcharge rules, with non-compliance potentially resulting in fines up to $1 million, according to one card processor.

By Lynne Marek • Jan. 8, 2024

FlexWage wins EWA carve-out in Connecticut

The earned wage access company said the Connecticut Department of Banking determined it doesn’t need a state lending license.

By Lynne Marek • Jan. 5, 2024

Florida weighs cashless ban

Lawmakers in the state are considering legislation that would require merchants to accept cash payments.

By Caitlin Mullen • Jan. 5, 2024

Bank groups voice concerns with CFPB’s open banking proposal

The Bank Policy Institute and The Clearing House want the Consumer Financial Protection Bureau to take a tougher stance on screen scraping, and allow banks to charge fees to cover the cost of enabling data sharing.

By Anna Hrushka • Jan. 5, 2024

Trade groups seek to delay digital wallet oversight plan

Fintech trade groups asked the Consumer Financial Protection Bureau to extend the comment period on a proposal formalizing its oversight of big tech companies’ digital wallets.

By Caitlin Mullen • Jan. 4, 2024

CFPB flags impending guidance on earned wage access

The federal agency plans to weigh in on EWA services, it said in commenting on a California proposal to register and oversee the providers of such services.

By Lynne Marek • Jan. 4, 2024

NY governor pursues BNPL regulation

New York Gov. Kathy Hochul is seeking to require buy now, pay later providers to obtain a license to operate in the state, in addition to other potential regulations for the industry.

By Caitlin Mullen • Jan. 3, 2024

New York enacts surcharge law

The state’s new law will force merchants to limit credit card surcharges and more clearly disclose them to consumers. If the businesses don’t, they could face a $500 penalty.

By Lynne Marek • Jan. 3, 2024

Trade group girds for 2024 CCCA fight

The Electronic Payments Coalition is “fully funded” for the continuing fight over the proposed Credit Card Competition Act this year, said the organization’s executive chairman.

By Lynne Marek • Dec. 22, 2023

How Google’s settlement will change in-app payments

Google’s settlement with attorneys general this week includes a lengthy list of changes the tech titan must make in its approach to in-app payments.

By Lynne Marek • Dec. 21, 2023

U.S. Bank fined $36M over freezes of COVID-era unemployment benefits

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

By Dan Ennis • Dec. 20, 2023

Atlanta Fed delivers payments inclusion report

PayPal, Block and Global Payments representatives contributed to the Atlanta Federal Reserve Bank’s research on how to draw more people into the digital payments sphere.

By Lynne Marek • Dec. 20, 2023

Don’t know what a digital wallet is? We’ve got you covered.

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.

By James Pothen • Dec. 20, 2023

Senators prod CFPB on BNPL oversight

Three Democratic lawmakers worried about financially vulnerable consumers during the holiday shopping season urged the Consumer Financial Protection Bureau to keep an eye on buy now, pay later offerings.

By Lynne Marek • Dec. 19, 2023

SEC won’t budge on crypto regulation

In denying a petition submitted by Coinbase, the agency has concluded rulemaking isn’t needed for issuers and intermediaries to know which – and how – crypto assets fit within securities law.

By Robert Freedman • Dec. 18, 2023

Marshall keeps up CCCA crusade

Sen. Roger Marshall acknowledged the Credit Card Competition Act bill may not get a vote this year, but he intends to keep pushing for passage in 2024.

By Lynne Marek • Dec. 15, 2023

Fraud emerges as concern for FedNow users

The Federal Reserve is weighing additional fraud-fighting tools as it takes feedback from users of the new instant payments system.

By Lynne Marek • Dec. 15, 2023

Senators keep pressure on PayPal, Block

Senate Democrats urged top executives at PayPal and Block, in another round of letters, to improve reimbursement for victims of payment scams.

By Lynne Marek • Dec. 14, 2023

Synchrony, Bread plan offsets to late fee cap

“I want that shoe to drop so we can start mitigating that issue,” Bread CEO Ralph Andretta said last week, as the industry awaits the CFPB’s final rule.

By Caitlin Mullen • Dec. 14, 2023

FedNow may have spurred RTP adoption

The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.

By Lynne Marek • Dec. 13, 2023

Discover’s new CEO brings bank experience

Michael G. Rhodes, previously the group head for Canadian personal banking at TD Bank Group, will take the helm at Discover in March.

By Caitlin Mullen • Updated Dec. 12, 2023