PAYMENTS NEWS
Exclusive: D.C. aims to crack down on credit card swipe fees
Feb 21, 2025
D.C. is gearing up to fight a covert charge that can cost businesses thousands of dollars and jack up prices: credit card swipe fees.
Waller sees stablecoins advancing in retail
Feb 20, 2025
Stablecoins are seeping into payments at stores, but there are plenty of hurdles before they become widely used, according to Federal Reserve Governor Christopher Waller.
Judge agrees to immediately halt further CFPB firings
Feb 20, 2025
A federal judge on Friday agreed to temporarily block the Trump administration from firing more employees at the Consumer Financial Protection Bureau.
Cap One, Discover shareholders approve merger
Feb 20, 2025
Stockholders of the two companies approved the big bank’s $35.3 billion acquisition in separate meetings Tuesday.
Fed's Bowman calls for review of Dodd-Frank reforms
Feb 20, 2025
A top Federal Reserve official wants the central bank to revisit its post-financial crisis regulatory reforms.
Hill, Scott move to nullify CFPB overdraft rule
Feb 20, 2025
The heads of the House Financial Services Committee and Senate Banking Committee have introduced a Congressional Review Act resolution to nullify the Consumer Financial Protection Bureau's overdraft rule.
Cap One, Discover expect merger completion delay
Feb 12, 2025
Discover Financial Services said it now expects the transaction to be completed by May 19, three months later than initially expected as the companies await regulatory approvals.
Breaking News
Feb 11, 2025
The White House nominated former Federal Deposit Insurance Corp. board member Jonathan McKernan to be the next director of the Consumer Financial Protection Bureau, according to a document sent to the Senate on Tuesday.
A Less Active CFPB Is Expected After the Bureau’s Temporary Shutdown
Feb 11, 2025
A subdued Consumer Financial Protection Bureau is likely to emerge in the wake of the order issued over the weekend to close its offices for the week and have employees work remotely during that period.
Bank of America: New Use Cases Take Unattended Payments Into the Future
Feb 10, 2025
Making things easier rarely goes out of style. Just take, for example, unattended payments.
Union files suit over CFPB shutdown
Feb 9, 2025
A labour union has filed lawsuits against Consumer Financial Protection Bureau acting director Russell Vought after he ordered staff to halt much of the watchdog's activities.
Trump administration orders consumer protection agency to stop work, closes building
Feb 9, 2025
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal.
Sanders and Hawley introduce bill to cap credit card interest rates at 10%
Feb 5, 2025
Sens. Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., introduced a bill on Tuesday that would cap credit card interest rates at 10% − an effort by two lawmakers who rarely see eye to eye.
Lawmakers Vote To Advance Commerce Nominee Lutnick
Feb 5, 2025
Senate lawmakers on Wednesday morning voted to advance Wall Street financier Howard Lutnick's nomination to serve as the Secretary of Commerce, moving the Cantor Fitzgerald CEO one step closer to helming the department that oversees international trade, the U.S. Patent and Trademark Office and other agencies.
Hagerty Aide Luke Pettit Tapped for Treasury’s Bank Policy Lead
Feb 4, 2025
The Trump administration has tapped Luke Pettit, a staffer for Republican Senator Bill Hagerty, for a senior role in the US Treasury Department.
Chopra out at the CFPB
Feb 3, 2025
Consumer Financial Protection Bureau Director Rohit Chopra said in a social media post that he is no longer at the bureau, ending a weeks-long period of angst from bankers who wondered why Chopra continued to hold his spot in the new Trump administration.
Trump order embraces stablecoins, bars CBDCs
Jan 27, 2025
President Trump issued a “digital financial technology” executive order Thursday backing the cryptocurrency industry and terminating any federal work on a central bank digital currency.
Servers in Washington State hoping for reprieve from credit card fees
Jan 27, 2025
OLYMPIA, Wash. - Servers fed up with business owners in Washington State deducting a portion of fees on sales taxes and gratuities from their tips may get some relief.
UK ups digital drive with mobile wallet plan
Jan 27, 2025
The UK government unveiled plans to launch a mobile wallet offering access to official documents including driving licences, part of an ongoing push to transform operations through technology.