PAYMENTS NEWS
What you need to know about major new Buy Now Pay Later rule changes
Jun 30, 2026
Starting 15 July, prominent BNPL providers in the UK will fall under the direct regulation of the Financial Conduct Authority (FCA).
Illinois enacts BNPL law
Jun 30, 2026
Gov. Pritzker signed a bill mandating regulatory oversight of buy now, pay later companies, enacting rules to oversee the industry.
Supreme Court Blocks Trump From Firing Fed Governor Lisa Cook
Jun 30, 2026
In a pair of decisions, the court expands presidential authority over independent agencies—but the central bank is the notable exception.
Digital euro clears European Parliament hurdle
Jun 26, 2026
The European Parliament’s economic and monetary affairs committee adopted the proposed draft rules 43 to 14.
Lawmakers spar over payment rails
Jun 26, 2026
During a recent House Financial Services committee hearing, some House members supported the proposed Payments Access and Consumer Efficiency (PACE) Act, which would offer fintechs access to the Federal Reserve payments systems.
Fed to launch roundtable to fight payment fraud
Jun 24, 2026
The Federal Reserve Board has reviewed more than 250 comments received last June in response to a request for information from the Fed, the FDIC and the Office of the Comptroller of the Currency. The Fed will use those comments to shape its approach to mitigating payments fraud.
Boston Fed forms payments council
Jun 24, 2026
The council members, from the district’s New England area, will convene to share industry insights and data in an effort to help the Boston Fed understand current payment issues and guide the agency’s policy decisions, the release said.
Stanley Woodward Reportedly Assumes Leadership of DOJ Antitrust Division
Jun 16, 2026
Stanley Woodward, the U.S. Department of Justice’s associate attorney general, has assumed leadership of the department’s Antitrust Division.
The Argument Over Interchange Is Far from Settled, Observers Say
Jun 10, 2026
A federal court ruled that a settlement reached between banks and merchants is “fair, reasonable, and adequate."
Court approves Visa-Mastercard settlement
Jun 10, 2026
A federal judge approved a settlement that Visa and Mastercard reached with merchants. The settlement is aimed at ending 21 years of litigation on the matter.
Visa-Mastercard fund will report claims status
Jun 8, 2026
The administrator of the $5.5 billion class action settlement with Visa and Mastercard will produce a new quarterly report giving claims holders more visibility into the process. Class counsel for merchants that sued the card networks over interchange fees said they expect the first report to be ready for the court by July 10.
NCUA Finalizes Preemption Rule, Clearing Path for FCUs to Continue Collecting Interchange Fees
Jun 8, 2026
The interim rule clarifies that federal credit unions have the authority under the Federal Credit Union Act to impose non-interest charges and fees, including interchange fees, and that those activities are not subject to conflicting state laws. The rule takes effect June 30.
Colorado interchange fee law vetoed
Jun 4, 2026
The state’s governor shot down a bill aimed at curbing interchange fees on card transactions even though members of his own party passed the legislation.
UK’s biggest banks back scheme to challenge Visa and Mastercard dominance
Jun 3, 2026
Barclays, HSBC, Lloyds and NatWest want a new British payments system.
UK Payments Initiative launches to challenge Visa and Mastercard stranglehold
Jun 3, 2026
The UK Payments Initiative, a new company formed with the backing of the UK's biggest banks, has gone live, with the aim of undermining the dominance of US card networks in payments.
Illinois Delays Swipe Fee Ban for Another Year
Jun 2, 2026
The Illinois legislature voted to delay implementation of the Interchange Fee Prohibition Act (IFPA) for a year. If the bill containing this provision is signed into law by the governor, the act will be effective July 1, 2027.
Fed’s top payments official to exit
May 29, 2026
The Federal Reserve’s first payments chief, Mark Gould, will retire this year, but stay on while the central bank seeks his successor.
Trump order seeks to open Fed rails
May 22, 2026
President Trump directed the Federal Reserve Board of Governors to review how it grants access to central bank payment rails, with a view toward allowing fintech firms to use these Fed services.
NCUA moves to block Illinois swipe fee law
May 22, 2026
The NCUA rule would preempt an Illinois law barring credit card operators from charging interchange fees on taxes and tips, arguing that the statute is preempted by federal law.
Why JPMorgan Payments has been 'pretty quiet' on agentic commerce
May 20, 2026
Payments has been in wait-and-see mode on agentic commerce, largely because the bank says there are a number of issues that the technology industry needs to address.