Opponents of CCCA brace for reintroduction

Detractors of the Credit Card Competition Act proposal that failed last year are preparing for a reintroduction of similar legislation in Congress, as soon as this week.

By Lynne Marek • June 6, 2023

Nevada passes EWA legislation

Nevada this past weekend became one of the few states to pass legislation directed at policing the expanding earned wage access industry.

By Lynne Marek • June 5, 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

SEC charges Binance, CEO Zhao with 13 violations

The regulator alleged high-value U.S. customers were secretly allowed to trade on Binance platforms after the company said otherwise, and that controls allowed customers’ funds to commingle.

By Dan Ennis • June 5, 2023

Republicans draft crypto legislation

The discussion draft, which addresses how digital assets can be defined, represents the most comprehensive federal legislative development in the crypto sphere this year.

By Gabrielle Saulsbery • June 5, 2023

CBDCs offer benefits, risks

Central bank digital currencies, which are being tested around the world, could increase the efficiency of cross-border payments, but there are associated risks, according to a trade group report.

By Lynne Marek • June 5, 2023

Consumers, businesses gravitate to faster, mobile payments

As electronic payment options become available, consumers and businesses in the U.S. are using them more often, but keeping a wary eye on fraud.

By Lynne Marek • May 26, 2023

Debit network players gear up for July

Card network operators Visa, Mastercard and Fiserv are bracing for change in light of the Federal Reserve’s debit routing rule clarification.

By Caitlin Mullen • May 26, 2023

Payments fraud climbs as banks reach for joint response

Financial institutions and payments players are seeking to coalesce around new efforts to battle skyrocketing payments fraud.

By Lynne Marek • May 25, 2023

Citizens Bank to pay $9M to settle disputed-charge suit

The CFPB said the bank, in 2015, improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users.

By Dan Ennis • May 24, 2023

Give EWA a chance

“It is unclear why critics want to place EWA in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association.

By Brian Tate • May 24, 2023

Legislators spar over stablecoin proposals

Lawmakers agree stablecoin legislation is needed to ensure the U.S. establishes itself as a leader in the space. 

By Caitlin Mullen • May 22, 2023

NY Fed teams with Singapore on CBDC study

The two central banks tested digital ledger technology for payments across multiple currencies in less than 30 seconds.

By Lynne Marek • May 22, 2023

Bill Holdings discloses ‘material weakness’

Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.”

By Caitlin Mullen • May 19, 2023

Fed official stresses importance of dollar’s standing

“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.

By Tatiana Walk-Morris • May 19, 2023

PayPal considers Xoom sale: report

The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.

By Lynne Marek • May 17, 2023

Discover pursues ESG goals

The card company this week issued a new report on the environmental, social and corporate governance aspects of its business and its aspirations.

By Tatiana Walk-Morris • May 12, 2023

Everee takes on EWA providers

The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.

By Lynne Marek • May 11, 2023

Senators call out banks on card late fees

A group of lawmakers asked the CEOs of large credit card issuers to explain their late fee practices.

By Caitlin Mullen • May 9, 2023

Synchrony, Wells Fargo, Bread Financial lead medical credit card market: CFPB

The medical credit card industry has expanded in recent years as healthcare providers promoted the cards to patients, the agency said in a report.

By Tatiana Walk-Morris • May 8, 2023

Block boosts compliance spending to $160M

Square parent Block is increasing compliance spending on personnel and software this year.

By Caitlin Mullen • May 5, 2023

Battle ensues over CFPB proposal to cap late fees

Supporters and opponents of the CFPB’s proposal to cap late fees at $8 clashed in comments to the agency in recent weeks.

By Lynne Marek • May 5, 2023

Chargebacks911 appoints new CEO

The promotion for the company’s COO and founder comes as the returns management firm faces regulatory scrutiny over its business practices. 

By Tatiana Walk-Morris and Lynne Marek • May 3, 2023

Andreessen Horowitz partners spy payments play

Gaming, cannabis and telehealth are some of the “high-risk” niches that would benefit from more vertical-specific payments software, two partners for the firm contend.

By Lynne Marek • May 3, 2023

FDIC proposes higher insurance coverage for payroll accounts

Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts — would merit higher deposit insurance coverage.

By Anna Hrushka • May 2, 2023

Mastercard ‘cannot afford to ignore’ AI, CEO says

The card network company is considering using artificial intelligence in more ways, including in customer service, CEO Michael Miebach said.

By Caitlin Mullen • April 28, 2023