Clair CEO welcomes on-demand pay regulation

Clair CEO Nico Simko weighed in on whether EWA is a payday loan and how the company offers fee-free wage access.

By James Pothen • July 20, 2023

Discover facing FDIC probe

The company also disclosed during its 2Q earnings report that a pricing issue affected merchants and merchant acquirers, some of whom will get refunds.

By Caitlin Mullen • July 20, 2023

Explore the Trendline➔

Payments industry seeks to keep pace with fraudsters

As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.

By Payments Dive staff

FedNow goes live for banks, credit unions

The Fed’s long-awaited instant payments system arrived right on time, giving consumers and businesses a new route for speedier transactions.

By Lynne Marek • July 20, 2023

CCCA opponents brace for defense bill move

Opponents of the Credit Card Competition Act proposal are gearing up to fight the bill as an attachment to the National Defense Authorization Act.

By Lynne Marek • July 19, 2023

CFPB, European regulator open a dialogue on digital rules

Buy now, pay later platforms, artificial intelligence and other developments “if left unchecked, could increase consumers’ exposure to fraud and manipulation,” the regulators said Monday.

By Rajashree Chakravarty • July 18, 2023

Mastercard hires new chief legal officer

Rob Beard, who will also serve as head of global policy, brings M&A and capital markets experience to his new role at the card network company.

By Lyle Moran • July 18, 2023

Synchrony braces for late fee rule

The CEO of the private label card issuer expects a final rule on the CFPB’s proposed credit card late fee cap later this year, and litigation could follow, he said.

By Caitlin Mullen • July 18, 2023

Credit card bill opposition builds

Ten banking and payments trade associations sent a letter to Congress on Friday objecting to the Credit Card Competition Act.

By James Pothen • July 18, 2023

Will other states mimic New Jersey’s credit card surcharge?

The state’s legislature passed a bill recently to cap credit card surcharges. One experienced payments executive believes that’s the wave of the future.

By Lynne Marek • July 17, 2023

CFPB urged to abolish deferred interest

Panelists who spoke during the agency’s Tuesday hearing on medical billing and collections identified deferred interest credit cards as a prime culprit saddling patients with medical debt.

By Caitlin Mullen • July 13, 2023

Twitter snags money transfer license in Arizona

That’s the fourth state in which the social media company has received a license, inching it closer to creating the payments tool and super-app envisioned by owner Elon Musk.

By James Pothen • July 12, 2023

Bank of America fined $250M over fake accounts, junk fees

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers about rewards for card applications.

By Anna Hrushka • July 11, 2023

New Jersey legislature passes credit card surcharge bill

Lawmakers passed a bill that limits the surcharge a merchant can impose on consumers to the cost of processing a credit card transaction.

By Lynne Marek • July 11, 2023

Missouri follows Nevada in enacting EWA law

The new legislation creates a requirement that earned wage access providers operating in Missouri must register with the state.

By James Pothen • July 11, 2023

Feds drill down on medical cards

With consumers increasingly tapping medical credit cards to pay for healthcare costs, the Biden administration is zeroing in on regulations to police such financial services.

By Lynne Marek • July 10, 2023

As biometrics use advances, so must hacker defenses

“Hackers are using all sorts of sophisticated methods to trick and bypass biometric technology – like capturing audio clips of individuals’ voices, making fake fingerprints using putty and gelatin, and downloading photos and videos,” an executive writes.

By Alessandro Chiarini • July 7, 2023

FTC revs up money transfer case against Walmart

The Federal Trade Commission revved up its case against Walmart last week, alleging the retailer facilitated fraudulent transactions, despite a court ruling setback in March.

By Lynne Marek • July 6, 2023

Card issuers defend late fees

In responses to a group of U.S. senators, the top 10 credit card issuers outlined their late fee practices and warned of potential consequences if fees are capped as the CFPB has proposed.

By Caitlin Mullen • July 6, 2023

Moody’s report spotlights FedNow downside

The soon-to-launch real-time payments system from the Federal Reserve may reduce interchange fee revenue for some payments players and increase IT costs for others.

By Lynne Marek • June 30, 2023

California lawmakers consider bill requiring gun code use

The bill stands in contrast to legislation recently passed in Republican-led states that blocks use of the gun merchant category code.

By Caitlin Mullen • June 29, 2023

FedNow battles conspiracy theories

The Federal Reserve’s new instant payments system is confronting disinformation as it gears up for a launch, likely late next month.

By Lynne Marek • June 28, 2023

Will BNPL pass the test?

The buy now, pay later trend faces a starkly different environment than the one in which it gained traction. Regulation looms, the economy has worsened and investors are demanding profits. It’s all a test of BNPL’s long-term footing.

By Caitlin Mullen • June 27, 2023

Credit card used to buy AR-15 rifle in New Mexico shooting

Police confirm the gunman’s father used a credit card to pay for part of a transaction that included the weapon purchase.

By Debbie Carlson • June 26, 2023

Alivia Analytics scans for healthcare payments fraud

With new leadership installed since October, including a new CEO and board member, Alivia Analytics is fighting payments fraud in the healthcare sector.

By Joseph Burns • June 26, 2023

3 avoidable disadvantages of agent-assisted payments

PayNearMe recently conducted a survey of lenders to determine how they are perceiving and preparing their organizations for this period of economic uncertainty.

June 26, 2023