PAYMENTS NEWS
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.
Crypto industry scores win as Clarity Act regulation bill clears Senate hurdle
May 14, 2026
The cryptocurrency industry notched a key win after a Senate panel on Thursday approved the Clarity Act, the first wide-ranging piece of legislation pertaining to the new industry.
Eighth Circuit presses Federal Reserve on 21-cent debit card fee cap
May 14, 2026
A convenience store claims the Federal Reserve allows banks to collect fees based on broad infrastructure costs explicitly barred by Congress.
A banker's guide to the Senate's crypto bill markup
May 14, 2026
Lawmakers will consider amendments that would make the changes that the banking industry prefers, but getting enough votes to approve them would require Republican buy-in, which is far from assured. If the legislation passes in a party-line vote, the banking industry will have more opportunities to make changes when the bill comes before the full Senate and when it comes under consideration in the House.
Two Democrats cross aisle to advance Warsh’s Fed chair nomination
May 13, 2026
Two Democratic Senators on Monday joined Republicans in voting to advance the nomination of Kevin Warsh to the Federal Reserve Board of Governors, backing President Trump’s nominee for chair of the Fed.
CFPB Workers Returning to Office Following White House Closure
May 13, 2026
Staffers at the Consumer Financial Protection Bureau (CFPB) are reportedly heading back to the office.
Colorado Advances a Measure to Eliminate Interchange Fees on Sales Tax
May 7, 2026
A Colorado bill that would eliminate sales tax as part of the interchange fee calculation has moved to Gov. Jared Polis’s desk for review following passage Wednesday in the Colorado House.
Europe Makes Real-Time Payments a Mandate
May 7, 2026
Europe’s push toward real-time payments has entered a new phase, defined not just by technology and consumer preferences but by sovereignty, regulatory force and competitive urgency.
Identity Is the New Perimeter
May 5, 2026
As e-commerce accounts for more and more payment transactions, the need to ensure a transactor’s identity is more and more crucial.