A U.S. presidential review of financial regulations has opened a further front in long-standing political battles over debit processing caps, the federal consumer finance regulator, and prepaid...
After a turbulent and unpredictable 2016, the global payments industry has its work cut out to prepare for a flurry of regulatory, legislative and policy reforms.
U.S. federal regulators are inquiring into how consumer finance companies are using and abusing customer data, in a move that may lead authorities to constrain the sector with further rules.
Payments regulation in the U.S. is facing the prospect of a radical overhaul after the surprise election of Republican Donald Trump as the next President alongside a Congress dominated by his...
U.S. authorities have ordered card networks to stop inhibiting merchants’ ability to choose which payment networks will process their debit transactions.
Visa, Mastercard, American Express and Discover will face a court battle over allegations they conspired to dump payment fraud costs onto small merchants, following a ruling from a U.S. federal...
A U.S. bill that would scrap rules around swipe fees and consumer finance is unlikely to become law, according to legal experts, despite gaining approval from the House Financial Services...
PSR designates first UK account switching service; FATF tells Canada to close money laundering loopholes; and U.S. House Committee backs CFPB, Durbin reform.
U.S. officials probe SWIFT after cyber-heist; Indian authorities ponder data sharing for payments; Singapore opens consultation on payments reforms; Capitol Hill prepares for clash on swipe fees;...
Caps on swipe fees for U.S. credit cards would cost issuers as much as $15bn (£11.6bn) per year if they were based on the price of processing transactions, according to new research.
Support grows for retaining U.S. swipe fee caps; Caribbean officials to arrange global stakeholder conference on de-risking; European Parliament approves cybersecurity directive; Europe...
State bankers associations have joined a growing effort to undermine U.S. interchange fee regulation as they pledge to support a lawmaker seeking to repeal legislation capping fees for merchants.
Senator Dick Durbin has promised to defend rules capping U.S. interchange fees as a rival lawmaker introduces a bill to repeal the controversial legislation on card payments.
A charge MasterCard levies on card issuers when purchases are processed by a competing network raise “troubling questions” and are a “burden”, a senior U.S. senator has argued.
U.S. merchants “frustrated” at a lack of choice around networks for handling debit transactions have asked regulators to investigate whether card issuers are breaking the rules.
American card networks and issuing banks have been accused of bungling the switch to the EMV card standard last October, putting consumers and merchants at greater risk of fraud.