PAYMENTS NEWS
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.
Illinois bans credit card wagering on sports, but use of digital payment methods at casinos still allowed
Apr 30, 2025
Gamblers will no longer be allowed to use credit cards to bet on sports in Illinois, the Illinois Gaming Board announced Friday.
Judge scraps US rule capping credit card late fees at $8
Apr 24, 2025
A federal judge on Tuesday threw out a U.S. Consumer Financial Protection Bureau rule capping credit card late fees at $8, after the agency agreed with opponents that the rule adopted during President Joe Biden's administration was illegal.
Same-Day ACH Volume Rises 19%
Apr 24, 2025
Business, consumer, and government use of the automated clearing house network continues on its growth pace with overall ACH payment volume up 4.2% in the first quarter year-over-year. Same-day ACH, Nacha’s faster-payments offering, experienced a 19.1% jump in payments.
Trade group pushes directory for instant payments
Apr 24, 2025
The U.S. Faster Payments Council advocated for an open and secure directory service to increase real-time payment adoption, per a report earlier this month.
Apple and Meta Are First to Be Hit by E.U. Digital Competition Law
Apr 24, 2025
The European Commission said the Silicon Valley companies violated the Digital Markets Act, a law meant to crimp the power of the largest tech firms.
The Request for Proposal’s Promise for Real-Time Payments
Apr 30, 2025
Request for payment on the RTP network from The Clearing House Payments Co. LLC has been a feature since the network launched 2017, but users’ increasing embrace of RfP is triggering more development of it.
Exclusive: Visa threat report highlights NFC relay attack
Apr 24, 2025
Relay fraud — a category of schemes that abuse the near-field communication (NFC) technology that enables tap-to-pay — is having a resurgence this Spring, according to Visa's latest biannual threat report.