PAYMENTS NEWS
CFPB seeks to block states from enforcing federal laws
May 20, 2025
The Consumer Financial Protection Bureau has withdrawn guidance from the Biden administration that had expanded states' rights, allowing individual states to broadly enforce violations of federal consumer protection laws.
Senate advances a major crypto regulation bill on a bipartisan vote
May 20, 2025
The vote on the GENIUS Act, which would set up a regulatory for stablecoins, came two weeks after Senate Democrats blocked the measure.
Senate to try again to advance crypto bill after Democratic opposition tanked first vote
May 19, 2025
The Senate is expected to take a key procedural vote Monday evening on a crypto regulation bill after Democratic opposition tanked an initial attempt to advance the measure earlier this month amid concern over ties between the digital asset industry and the Trump family.
Capital One closes Discover deal
May 19, 2025
Completion of the combination results in the richest banking deal of the past six years and creates the nation’s largest credit card issuer.
AI Explainer: How Large Transaction Models Are Securing Payment Flows
May 16, 2025
Digital transformation has opened a fire hose of new information flows, particularly around payments and commerce.
Trump's CFPB has dropped half of all pending litigation
May 15, 2025
The Consumer Financial Protection Bureau has dismissed or withdrawn more than half of its pending enforcement cases as the Trump administration clears the docket of work it inherited from the Biden era.
Nevada bill would charter new payment banks
May 14, 2025
The new banks would connect directly to real-time payment rails like FedNow and ACH to potentially lower retailers’ transaction costs.
Jonathan McKernan to Be Nominated for Post at Treasury Instead of CFPB
May 12, 2025
Former Federal Deposit Insurance Corp. (FDIC) Board Member Jonathan McKernan will be nominated to serve in a post at the Treasury Department after previously being nominated to lead the Consumer Financial Protection Bureau (CFPB).
CFPB rescinds 67 pieces of guidance
May 12, 2025
The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.
Slater: US antitrust enforcement is not partisan
May 9, 2025
The US Department of Justice’s competition chief has said cross-party support for the Antitrust Division’s Google cases, together with her uncontested confirmation in the Senate, demonstrates that US antitrust enforcement is bipartisan.
Virginia consumers will soon see less junk fees, which add money to purchase costs
May 9, 2025
Virginia consumers should see less hidden fees on the purchase price of certain items, starting in July.
Congress erupts over Trump's billion-dollar crypto deal
May 7, 2025
A $2 billion crypto deal involving President Trump's family and a foreign government is threatening to derail bipartisan stablecoin legislation that Congress has been working on for months.
Acquirers Turn to Tokens to Tackle Fraud, Streamline Payments
May 7, 2025
In the report “Bridging the Gap: Helping Acquirers Meet Evolving Merchant Demands,” a joint effort between PYMNTS Intelligence and Visa Acceptance Solutions, we found that “unified” commerce can improve interactions between merchants, acquirers and consumers.
Senate eyes vote on stablecoin bill despite Democratic revolt
May 7, 2025
Senate leadership plans to tee up a vote on legislation creating a framework for payment stablecoins this week, even as a contingent of crypto-friendly Senate Democrats pull their support for the bill.
Sens. Schumer, Warren urged Senate Dems to change course on stablecoin bill: Politico
May 7, 2025
A new report shines more light on the recent change of course by Senate Democrats regarding bipartisan stablecoin legislation that has been working its way through the chamber.
Visa pursues stablecoins for cross-border payments
May 7, 2025
The biggest U.S. card network is setting up partnerships and innovating behind the scenes to develop stablecoins for cross-border uses.
Warren, Waters urge Fed to reconsider Capital One-Discover
May 7, 2025
The Democratic lawmakers blasted the central bank’s “analysis, or lack thereof,” arguing the Fed “parroted assertions made by Capital One.”
CFPB won't enforce rule classifying BNPL as credit cards
May 7, 2025
The Consumer Financial Protection Bureau under President Trump has taken an adversarial stance toward Biden-era regulations, with the latest salvo being a decision to not enforce tighter rules for buy now/pay later lending.
CFPB Plans to Revisit Open Banking Rule Despite Staff Cuts
May 6, 2025
The Trump administration is poised to reopen a Biden-era rule allowing customers to share their sensitive bank data with third-party fintechs and potentially vacate it, according to multiple sources.
How banks can persuade customers to stop using checks
May 5, 2025
President Donald Trump's recent order to the Treasury Department to stop issuing paper checks for federal disbursements paves the way for banks to try to curtail paper check use among customers.