PAYMENTS NEWS
Court vacates Fed interchange rule, dealing blow to banks
Aug 8, 2025
A federal judge dealt a blow to the Federal Reserve and debit card issuers by ruling against the central bank in a high-profile lawsuit challenging the central bank's 2011 rule regulating interchange fees.
Judge vacates debit fee regulations
Aug 8, 2025
The federal court ruling potentially forces the Federal Reserve to revisit regulations on fees banks can charge merchants when consumers swipe debit cards.
Fed’s Debit Card Swipe Fee Rule Tossed in Win for Retailers
Aug 7, 2025
Retailers won a key legal battle over debit card swipe fees after a federal judge determined the Federal Reserve went beyond what Congress allowed in setting rules more than a decade ago.
A Generation Is Turning to ‘Buy Now, Pay Later’ for Botox and Concert Tickets
Aug 5, 2025
Young Americans are turning to easy, high-interest loan products; research shows some are spending more
New X9 Report Supplies Guidance on Migrating to Post-quantum Cryptography Safely and Cost-effectively
Aug 5, 2025
Today the Accredited Standards Committee X9 Inc. (X9) announced the publication of a new report, “Post Quantum Cryptography Financial Readiness Needs Assessment. ” The goal of this document is to provide a high-level view, targeted to managers and executives, of options, alternatives and guidance on how to mitigate the cybersecurity threats posed to the financial services industry by quantum computers.
CFPB Tells Court It Will Rewrite Rule 1033
Jul 30, 2025
The Consumer Financial Protection Bureau (CFPB) asked a judge Tuesday (July 29) to stay a lawsuit challenging the open banking rule implemented last year by the Bureau’s previous leadership under the Biden administration.
Don't conflate stablecoins with tokenized bank deposits
Jul 29, 2025
With the GENIUS Act stablecoin legislation now signed into law, we can expect an acceleration of pronouncements in coming months from U.S. banks about how they are looking into issuing their own stablecoins. We've already heard words along these lines from Bank of America, Citi, Wells Fargo and others. And smaller, less headline-driving institutions around the United States will no doubt be fielding questions on the topic from shareholders as well as clients.
North Dakota Business Fighting Again For Lower Debit Card Fees in Federal Court
Jul 24, 2025
A North Dakota business is fighting once again against high debit card fees in federal court.
Bank of England considers shelving plans for a digital GBP
Jul 23, 2025
The Bank of England has announced that it considers shelving plans for a digital GBP for households amid growing skepticism about the project’s benefits.
Trump signs stablecoin bill into law
Jul 21, 2025
Treasury faces pushback on ditching checks
Jul 18, 2025
A plan to move the U.S. government to digital payments could prevent vulnerable communities from accessing tax refunds and Social Security benefits, groups warn.
Mastercard, JPMorganChase, Citi, BofA share stablecoin plans
Jul 17, 2025
The stablecoin-focused GENIUS Act is progressing in Congress in the midst of bank earnings season, putting banks such as JPMorganChase -0.73(-0.25%), Bank of America -0.12(-0.26%) and Citigroup -0.70(-0.77%); and card companies like Mastercard in front of analysts to answer questions about crypto.
Card and check schemes dominate bankers' fraud woes: Report
Jul 17, 2025
Be it new generations of artificial intelligence or increasingly skilled threat actors, fraud continues to be a massive thorn in the side of banks and credit unions across the U.S. New research from American Banker finds that institutions have more gaps in risk defenses than they might think.
Trump Denies He Is Planning to Attempt to Fire Powell
Jul 16, 2025
The president raises the prospect that Powell could be removed ‘for fraud’
Fedwire makes ISO leap
Jul 16, 2025
The Federal Reserve shifted payments for the Fedwire Funds Service to a new international standard this week without any reported glitches.
Australia looks to scrap surcharges on most card payments
Jul 15, 2025
SYDNEY, July 15 (Reuters) - Australia's central bank on Tuesday proposed to scrap surcharges on most debit and credit card payments for consumers while lowering interchange fees paid by businesses, steps it estimated would save the two groups around A$2.4 billion ($1.57 billion) a year.
‘Crypto Week’ kicks off in US with ‘landmark’ digital asset legislation in global spotlight
Jul 14, 2025
Three high-profile pieces of digital assets legislation are in line to be discussed by the House of Representatives during what US lawmakers have dubbed ‘Crypto Week’ in Washington DC – kicking off today (14 July) – with developments set to be closely watched globally.
JPMorgan Preparing to Charge FinTechs for Consumer Bank Data
Jul 14, 2025
JPMorgan has reportedly told FinTechs it will begin charging for access to customer bank info.
US Rep. Emmer works a day at Clear Lake gas station — similar to his first job
Jul 11, 2025
House Majority Whip Rep. Tom Emmer, R-Minn., took a trip down memory lane July 10 when he returned behind the counter at Ralphie's Minnoco in Clear Lake.
QR Codes Make a Splash in the Real Time Payments Pool
Jul 11, 2025
QR code payments have taken a big step towards becoming not only a mainstream payment option but also one that can accelerate the adoption of real-time payments. Late last week, the technology was used to facilitate a transaction over the FedNow network using the X9 standard.