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The potential deal between the major card networks and merchants would see swipe fees reduced and capped for at least three years, pending approval by the U.S. District Court for the Eastern District of New York.
March 26 -
The Consumer Financial Protection Bureau plans to release neutral credit card pricing data in the coming months to help consumers get the best deal, according to Director Rohit Chopra. Deceptive reward programs, late fees and data portability remain concerns, too, he says.
March 26 -
Preliminary rulings by a Pennsylvania judge will allow a jewelry company that claimed it lost $1.1 million to fraud to move forward with suing individual bank employees.
March 26 -
Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.
March 26 -
Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.
March 25 -
Despite further delays, the country has taken two key steps to opening up access to its Real-Time Rail, including allowing payment companies to participate without a bank partner, but it has yet to commit to a date for the project to go live.
March 25 -
A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.
March 20 -
At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.
March 20 -
The fast-food chain is analyzing the cause of an issue that affected payments in multiple countries. Separately, dLocal, a payments processor in Uraguay, is making changes at the top.
March 20 -
Banks are proceeding with caution as a new generation of AI tools arises.
March 19