Regulations & Policy: Page 43

  • Semi-automatic rifles hanging on gun shop wall.
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    Tracker

    How active shooters pay for guns

    Payment methods used by active shooters to acquire guns are becoming part of the U.S. dialogue about such incidents. A Payments Dive series tracking those details seeks to inform the discussion.

    By Payments Dive staff • Updated Dec. 13, 2022
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    FedNow gives fee holiday in 2023

    Federal Reserve banks introducing the new instant payments system next year will jettison customer transfer and participation fees for the launch.

    By • Nov. 7, 2022
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    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
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    Scott Olson via Getty Images
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    Warren urges CFPB crackdown on Zelle fraud

    Sen. Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection.”

    By Anna Hrushka • Oct. 31, 2022
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    Permission granted by Michelle Parke
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    Papaya builds cross-border payroll services

    The well-funded startup is taking on big clients and rivals in seeking to offer cross-border payroll payment services, with checks sent to workers in 72 hours.

    By • Oct. 28, 2022
  • Consumer Financial Protection Bureau Director Rohit Chopra standing at a podium on stage.
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    Lynne Marek/Payments Dive
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    CFPB aims to give ‘open banking’ rule teeth in 2024

    The bureau's chief, Rohit Chopra, laid out the timeline this week for a rule change meant to make it easier for consumers to break up with their banks.

    By Gabrielle Saulsbery • Oct. 26, 2022
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Payments Dive
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    FedNow will be a ‘public utility model,’ Waller says

    The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

    By • Oct. 26, 2022
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    Lynne Marek/Payments Dive
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    Column

    Fintechs party like it’s 2021 at Money 20/20

    Thousands of payments and fintech professionals at the Money 20/20 conference in Las Vegas this week are racing ahead with high-growth businesses, even as a drop-off in capital threatens to ruin the celebration.

    By • Oct. 25, 2022
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    CFPB seeks to jettison ‘junk data’ in credit reports

    Companies must have policies and procedures to detect and remove inconsistencies and “obvious impossibilities” in credit data, the CFPB said.

    By Anna Hrushka • Oct. 24, 2022
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    Ammo to launch its own online payments processing

    The Scottsdale, Arizona company said that bringing the payments aspect of transactions in-house, as opposed to using third parties, will allow it to reduce costs.

    By Jonathan Berr • Oct. 21, 2022
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    Drew Angerer via Getty Images
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    PayPal user policy sparks Republican ire

    Congressional Republicans this week demanded more details from PayPal over a proposed user policy that threatened to take users to task over “misinformation.”

    By • Oct. 20, 2022
  • Consumer Financial Protection Bureau Director Rohit Chopra with his hand raised while speaking.
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    CFPB sues Global Payments unit

    The Consumer Financial Protection Bureau sued Active Network, a unit of Global Payments, saying the company used “dark patterns” to unlawfully extract $300 million from consumers.

    By • Oct. 19, 2022
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    Federal Reserve. "FedNow Instant Payments". Retrieved from FRB Services.
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    Opinion

    FedNow may stumble without nonbanks, cross-border payments

    “In addition to cross-border payments, the benefits of FedNow must be widely available to Americans through competitive, diverse providers — including nonbanks,” writes a U.S.-based Wise executive.

    By Rina Wulfing • Oct. 18, 2022
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    Chip Somodevilla via Getty Images
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    Fed’s Waller expresses skepticism on CBDC

    Launching a digital currency could introduce costs and risks posing harm to the U.S. dollar's standing internationally, Waller said. The dollar’s primacy, he added, has little to do with technology.

    By Gabrielle Saulsbery • Oct. 17, 2022
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    Chip Somodevilla via Getty Images
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    Fintechs clamor for FedNow access

    Nonbank fintechs are pushing for access to the new federal faster payments system as its launch date next year approaches.

    By • Oct. 17, 2022
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    Scott Olson via Getty Images
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    Warren roasts Wells Fargo’s ‘severely bad performance’ on Zelle fraud

    Four of the seven banks that own Zelle reported data to the senator, but she focused her attention on Wells CEO Charlie Scharf in a letter Thursday.

    By Gabrielle Saulsbery • Oct. 14, 2022
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    Stripe CEO praises European regulation over US

    Patrick Collison, who founded the company with his brother, gave an edge to the European Union in creating a regulatory regime where fintechs are thriving.

    By • Oct. 13, 2022
  • Michael Barr
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    Column

    4 takeaways from Michael Barr’s DC Fintech Week speech

    The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets.

    By Dan Ennis • Oct. 13, 2022
  • Sen. Dick Durbin with his hand up and another congressional colleague in the background.
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    Chip Somodevilla via Getty Images
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    Durbin credit card amendment hits speed bump

    U.S. Sen. Dick Durbin wasn’t able to attach the Credit Card Competition Act proposal to a defense funding bill this week, but he will try again next month.

    By • Oct. 12, 2022
  • Person looks at mobile phone advertising buy now-pay later offer while online shopping
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    FTC issues warning on BNPL claims

    As buy now-pay later popularity has mushroomed, the companies offering the financing have attracted the attention of another regulator.

    By Caitlin Mullen • Oct. 5, 2022
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    Flickr Creative Commons
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    Warren report slams Zelle reimbursements

    The senator pushed to bolster a key CFPB rule after releasing a report tallying claims of fraud and scams on the P2P platform submitted by Truist, PNC, U.S. Bank and Bank of America.

    By Dan Ennis • Oct. 4, 2022
  • Treasury Secreatry Janet Yellen peers behind her glasses on Capitol Hill.
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    Chip Somodevilla via Getty Images
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    Legislation needed to fill crypto oversight gaps, FSOC says

    The federal panel said more oversight of stablecoins and crypto spot markets for tokens is needed. It also recommended rules that would help prevent regulatory arbitrage in the sector.

    By Anna Hrushka • Oct. 4, 2022
  • Fed Reserve Chair Jerome Powell standing at podium and adjusting his glasses with his hand.
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    Drew Angerer via Getty Images
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    Fed majority votes to finalize debit rule

    In a 6-1 vote, the Federal Reserve finalized a debit card processing rule that underscores a requirement that multiple card networks be available for routing transactions, including online.

    By • Oct. 4, 2022
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    Chip Somodevilla via Getty Images
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    Column

    Fed’s Bowman offers counterpoint on digital assets

    In recent public comments, Federal Reserve Gov. Michelle Bowman diverged from the views of her colleague Michael Barr on certain topics, including crypto policies.

    By Dan Ennis • Oct. 4, 2022
  • Sen. Durbin grimaces at committee meeting.
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    Anna Moneymaker via Getty Images
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    Durbin maps path for card bill

    Sen. Dick Durbin and his Republican ally, Sen. Roger Marshall, seek to attach their credit card competition legislation to a defense spending bill.

    By • Oct. 3, 2022
  • A person's hand holding a phone and on the screen is an image of a shopping cart with a banner above that says "BUY NOW PAY LATER!A
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    BNPL firms encounter growing pains

    As buy now-pay later providers face a shifting economic environment and regulatory scrutiny, they’re likely pursuing transformation, a Guidehouse consultant said.

    By Caitlin Mullen • Sept. 28, 2022