Fed, OCC, FDIC issue joint warning on crypto risks

The regulators didn't go so far as to create new rules around bank-crypto partnerships, but said they're "continuing to assess" if — and how — such tie-ups can proceed safely.

By Gabrielle Saulsbery • Jan. 4, 2023

Toomey bill would put stablecoin oversight in OCC’s hands

The outgoing senator said he wanted to shield stablecoin activity from the Fed, which is still debating whether to issue a central bank digital currency. Toomey noted the Fed’s “significant skepticism” of stablecoins.

By Gabrielle Saulsbery • Dec. 22, 2022

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

Investors press FIS, Fiserv for divestitures

The big processors mushroomed in 2019 acquisitions, with promises that scale would pay off, but shareholders now urge them to consider divestitures.

By Lynne Marek , Caitlin Mullen • Dec. 22, 2022

Card Competition Act skids toward 2023

With the bill unlikely to be passed by Congress this week, supporters of the Credit Card Competition Act are turning their attention to next year.

By Lynne Marek • Dec. 21, 2022

CFPB faces Republican reckoning in next Congress

“Next month there will be a new majority in the House of Representatives — I think you'll wish you tried harder to play by the rules,” Rep. Patrick McHenry, R-NC, told CFPB Director Rohit Chopra.

By Anna Hrushka • Dec. 15, 2022

SEC calls for disclosure on crypto risks

The collapse of FTX has slammed scores of creditors, prompting SEC concerns that companies may suffer losses from direct or indirect links to crypto markets.

By Jim Tyson • Dec. 12, 2022

Circle’s $9B SPAC deal falls apart

The stablecoin issuer and the blank-check company that had hoped to take it public terminated their agreement over the wait for SEC approval.

By Dan Ennis • Dec. 6, 2022

FTX fallout spurs regulatory fears

Payments industry professionals, including at the software security firm Fireblocks, worry that the crypto exchange’s downfall could trigger a regulatory backlash against digital assets.

By Caitlin Mullen • Dec. 6, 2022

Panel blasts fintechs for missing PPP fraud

Fintechs like Womply and Blueacorn provided the “paths of least resistance” for fraudsters bilking the federal Paycheck Protection Program, a House subcommittee said Thursday.

By Anna Hrushka • Dec. 2, 2022

FIS, Fiserv could benefit from credit legislation

Legislation aimed at creating competition for card giants Visa and Mastercard could be a boon for payments companies FIS and Fiserv.

By Caitlin Mullen • Nov. 30, 2022

Banks discuss refund rule for customers defrauded on Zelle: report

Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.

By Anna Hrushka • Nov. 28, 2022

Fiserv adopts new executive severance policy

The payments company’s board adopted the executive severance policy this week even though it opposed a similar shareholder proposal in May.

By Caitlin Mullen • Nov. 23, 2022

JPMorgan’s crypto wallet trademark is approved

The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and is at odds with some statements by its CEO.

By Dan Ennis • Nov. 22, 2022

BNPL connected to overdraft charges, card fees: study

Heavy users of buy now-pay later ― which researchers said inspires consumers to spend beyond their means — showed larger declines in financial health, a recent academic study determined.

By Caitlin Mullen • Nov. 22, 2022

Credit swipe-fee relief needed

“Congress has a responsibility to bring much-needed transparency and competition” to credit card swipe fees, writes the chairman of the trade association for 7-Eleven franchisees.

By Sukhi Sandhu • Nov. 18, 2022

Can Congress come together on crypto?

Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following the FTX failure.

By Lynne Marek • Nov. 17, 2022

Mastercard predicts Black Friday bonanza

The card network company said in a report this week that it expects a Black Friday “shopping blitz” will lead retail sales to jump 15% over last year. 

By Jonathan Berr • Nov. 16, 2022

CEOs Sound Off: Payments forecasts for 2023

The CEOs of Brex, Splitit and Paystand weigh in on what’s to come in the year ahead, commenting on the trends, challenges, regulation and M&A.

By Caitlin Mullen , Lynne Marek • Nov. 16, 2022

Discover concludes student loan probe

While the card company said it has finished its own investigation into its student loan servicing practices, it may still be subject to regulatory probes.

By Caitlin Mullen • Nov. 16, 2022

Nacha, Fed, Clearing House offer late night payments

The Federal Reserve and The Clearing House have launched late night ACH payments, speeding up the processing of some payments.

By Tatiana Walk-Morris • Nov. 16, 2022

Fiserv ‘maniacally focused’ on expense management

When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignano said the company knows what levers to pull “to manage the expense line.”

By Caitlin Mullen • Nov. 15, 2022

FTX files for bankruptcy, CEO steps down

FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

By Gabrielle Saulsbery • Nov. 11, 2022

Musk pushes Twitter toward payments

“Give them some amount of money, like ten bucks or something, that they can send anywhere in the system,” said Twitter’s new owner, Elon Musk. “We need money transfer licenses for that, which we’ve applied for.”

By Anna Hrushka • Nov. 11, 2022

CBDC could accelerate cross-border payments: NY Fed

Researchers designed a prototype digital currency that cleared cross-border transactions within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

By Rajashree Chakravarty • Nov. 10, 2022

Preparing for the CBDC era

Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

By Lance Homer • Nov. 9, 2022