PAYMENTS NEWS
Global Payments raises bets on merchant services with $22.7 billion Worldpay deal
Apr 17, 2025
Fintech company Global Payments has agreed to buy rival Worldpay from FIS and private equity firm GTCR for $22.7 billion, doubling down on merchant services to better compete for big-business clients in the crowded payments market.
Trade war could weaken banks, regulators — and competition
Apr 16, 2025
A tariff-driven recession could strain the U.S. banking sector by eroding credit quality and slowing investment, increasing the likelihood of small and mid-size bank failures, experts say. That could drive an uptick in government-assisted M&A deals, continuing the trend of consolidation in the industry.
How Trump's trade war threatens global payment growth
Apr 16, 2025
Companies are reporting first-quarter earnings now, but the next round of results are expected to reveal the effects of tariff-driven volatility that began in March. Investors will be looking for clues that payment volume is stagnating or even declining.
DOGE descends on FDIC in federal downsizing push
Apr 15, 2025
A team of Department of Government Efficiency employees are working to restructure the Federal Deposit Insurance Corp. alongside the banking agency's management, according to an email obtained by American Banker.
Republicans pressure Fed on debit card fees
Apr 14, 2025
Some House Financial Services Committee members are pressuring the Federal Reserve to reverse a proposal to lower the debit card fees that banks can charge.
Trump's deregulation push threatens notice-and-comment rule
Apr 14, 2025
Recent actions by President Donald Trump could accelerate his push to rollback onerous regulations on banks and other businesses, but they also risk setting precedents.
How Congress Stymied Mobile App Bills Based on a CFPB Rule
Apr 10, 2025
Sweeping regulation that would have impacted all major mobile-payment apps in the United States appears to be headed for the dustbin following action by the House of Representatives Wednesday to vote down a bill based on regulation from the Consumer Financial Protection Bureau.
US Justice Dept disbands crypto enforcement team, citing Trump order
Apr 8, 2025
The U.S. Justice Department is disbanding its National Cryptocurrency Enforcement Team and ordering prosecutors to narrow crypto investigations to focus on drug cartels and terrorist groups, according to a memo seen by Reuters.
What payments tech really owes to the COVID-19 pandemic
Apr 3, 2025
The COVID-19 pandemic was viewed as a catalyst for payments technology, but that was only part of the story.
The federal government is phasing out paper checks. Here's who will be affected.
Apr 2, 2025
Many Americans have moved away from writing personal checks since the Covid pandemic as they embrace contactless and digital payment methods.
Congressional committee urges Federal Reserve to revise digital asset policies
Apr 2, 2025
Republican members of the U.S. House Financial Services Committee have sent a letter to federal banking regulators requesting the reversal of policies they claim have impeded financial innovation in digital assets.
Retail, crypto groups converge to back stablecoin legislation
Apr 2, 2025
The Merchants Payments Coalition and the Payment Choice Coalition locked arms to advance stablecoins as the Senate Banking Committee passed a stablecoin bill.
Credit & Debit Card Swipe Fees Reach New Record in 2024
Apr 2, 2025
Total fees increased by more than $15 billion from the previous year.
CFPB plans to spike BNPL rule
Apr 2, 2025
The buy now, pay later industry sued to block the consumer-friendly rule, arguing that the services are not the same as those offered via credit cards.
Trump taps Bowman as Federal Reserve's top regulator
Apr 2, 2025
The Federal Reserve's most vocal opponent to Biden-era regulatory reforms is now poised to set the agency's oversight agenda.
Trump Organization lawsuit raises questions about Capital One-Discover deal
Apr 2, 2025
Capital One needs three U.S. approvals to proceed with its $35 billion purchase of Discover. Could a Trump Organization lawsuit against the bank spell trouble?
Swipe fee foes find legislative support in almost a dozen states
Apr 2, 2025
The battle to curb interchange fees has migrated from Illinois across the nation, with bills in 11 states seeing robust lobbying.
House plans vote to kill CFPB payments rule
Apr 2, 2025
The chamber’s measure revoking bureau oversight of large tech payments players has passed the Senate and would next head to an approving Trump.
Treasury's halt of paper checks likely to reduce fraud
Apr 1, 2025
The banking industry's effort to fight check fraud is likely to benefit from President Donald Trump's order to the Treasury Department to stop issuing paper checks for federal disbursements and to transition to digital payments.