Visa's debit card business comes under scrutiny from DOJ's antitrust division

The Department of Justice's antitrust division has in recent weeks begun a civil investigation into Visa's debit card processing practices, the Wall Street Journal reported.

By Lynne Marek • Updated March 19, 2021

Mastercard, Liberty Tax team up to expedite stimulus payments

"Prepaid cards help to bring more people into the digital economy and offer an added level of convenience, with funds available faster and eliminating the need to cash a check," a Mastercard spokesperson said.

By Vaidik Trivedi • March 19, 2021

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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

Mastercard, Visa to postpone some fee increases next month

Bowing to pressure from the White House and Congressional Democrats, the credit card companies won't increase expenses for merchants and consumers who are still coping with the  pandemic.

By Lynne Marek • March 16, 2021

Blockchain startup Spring Labs nabs former top OCC regulator for board

Brian Brooks, former acting head of the Office of the Comptroller of the Currency (OCC), will be its first independent director, though the company already counts several other former top federal officials as advisers.

By Anna Hrushka • March 15, 2021

Durbin targets Visa, Mastercard fees at antitrust hearing

The new Senate Majority Whip argued credit card fees historically have been "far in excess of any reasonable measure of cost and far higher than they would have been charged in a competitive market."

By Lynne Marek • March 12, 2021

Goldman Sachs bows to clients, embraces 'digital money,' bank president says

"There's no question in our mind, there's going to be more digital commerce, a lot more, an explosion in digital commerce," said Goldman President John Waldron.

By Lynne Marek • March 11, 2021

Mastercard, Visa, Fiserv and others band together as renewed battles over swipe fees brew

Credit card companies, their trade groups and Washington politicians are gearing up for renewed tension over credit card fees.

By Lynne Marek • March 5, 2021

SEC chair nominee promises to write crypto guidelines

Gary Gensler aims to zero in on which cryptocurrencies should be treated as securities.

By Robert Freedman • March 4, 2021

Fed says 'operational error' caused payment system outage

The Federal Reserve's electronic payments network lets nearly 9,300 financial institutions send billions of dollars daily through the U.S. financial system.

By Anna Hrushka • Feb. 26, 2021

SEC picking crypto 'winners and losers,' Ripple tells court

The company's CEO, Brad Garlinghouse, criticized the timing of the suit and vowed to challenge it. The coin lost 60% of its value in the week after the court action, which one Twitter user called a "kill shot."

By Anna Hrushka • Updated March 5, 2021

Fed, FinCEN want to make banks report international transfers of as little as $250

Friday's proposal to lower the threshold from $3,000 is meant to catch bad actors using low-dollar cross-border transactions to facilitate terrorist financing and other illicit activity.

By Anna Hrushka • Oct. 26, 2020

Fed chair remains cautious on regulator's digital dollar efforts

The central bank's chief, Jerome Powell, told a panel Monday he'd rather the U.S. "get it right" than be first — and that such a currency should aim to complement rather than replace the dollar.

By Dan Ennis • Oct. 20, 2020