Merchant

The Federal Reserve Board's top payments official said the agency should not move forward with its push to lower the cap on debit interchange fees until it has a better understanding of recent Supreme Court decisions.

A digital dollar is likely on the way out in favor of non-government crypto, but those betting for fewer restrictions on fees and less antitrust litigation will likely be disappointed.

A Supreme Court ruling from earlier this year regarding national bank preemption is already playing a prominent role in the banking sector's challenge to a state law on charge card fees.

The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.

California's Department of Financial Protection and Innovation is requiring registration by mid-February of debt settlement firms, earned wage access providers, private secondary education financing and student debt relief services.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.

Interchange reductions for small Canadian businesses join global efforts to curb swipe fees, prompting Visa and Mastercard to diversify

Federal Deposit Insurance Corp. Chair Martin Gruenberg said an FDIC study proves relationship-driven lending practices remain crucial to small-business lending and economic stability, despite technological advancements in the banking industry.

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.