Payments
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Win McNamee via Getty Images
Capital One, Discover shareholders approve merger
Stockholders of the two companies Tuesday approved the deal, which still awaits sign-off from the Federal Reserve and OCC.
By Patrick Cooley • Feb. 19, 2025 -
Chip Somodevilla via Getty Images
Fed delays start of new Fedwire standard
The central bank postponed a deadline for banks and credit unions to move Fedwire payments to the ISO 20022 format. That may also hold up a broader industry modernization effort.
By Lynne Marek • Feb. 19, 2025 -
Trendline
Fraud and AML in banking
The past year has been one of reckoning with regard to fraud — from TD’s $3 billion AML penalty to the continuing punitive phase connected to PPP misdeeds, crypto bankruptcies and pig butchering.
By Banking Dive staff -
Truist, Zelle execs and others discuss approaches to fraud
A Truist executive advocated for more information sharing to combat push-payment fraud, an issue another participant in a panel discussion last week called a “national challenge.”
By Lynne Marek • Feb. 18, 2025 -
Kenneth Cheung via Getty Images
How payment scams start on social media
Bad actors contact consumers through social media and then persuade them to send money over payment platforms, a JPMorgan Chase payments executive said during a Payments Dive virtual event.
By Patrick Cooley • Feb. 18, 2025 -
Lynne Marek/Banking Dive
Waller sees stablecoins advancing in retail
Stablecoins are seeping into payments at stores, but there are plenty of hurdles before they become widely used, according to Federal Reserve Governor Christopher Waller.
By Lynne Marek • Feb. 18, 2025 -
subman via Getty Images
Klarna, JPMorgan to offer BNPL to business clients
The collaboration will let the bank’s payments division offer the buy now, pay later company’s financing options to business customers.
By Patrick Cooley • Feb. 11, 2025 -
Chor muang via Getty Images
Senators reintroduce bill to bar CBDC
Republican senators revived a bill last week to block the Federal Reserve from creating a central bank digital currency.
By Lynne Marek • Feb. 10, 2025 -
dem10 via Getty Images
CFPB fines Wise $2.5M over remittance violations
In one of the bureau's final actions under former Director Rohit Chopra's leadership, the CFPB said Wise misled customers in the U.S. about fees and failed to make other required disclosures.
By Rajashree Chakravarty • Feb. 5, 2025 -
Dan Kitwood via Getty Images
Coinbase calls on regulators to clarify crypto-bank rules
Banks that pursued crypto “were almost universally met with resistance” from the FDIC, the agency’s acting chair, Travis Hill, said Wednesday.
By Gabrielle Saulsbery • Feb. 5, 2025 -
Chip Somodevilla via Getty Images
Trump media firm aims to launch fintech brand this year
The company wants to develop “American First” investment vehicles with funding of up to $250 million to be custodied by Charles Schwab, it said Wednesday.
By Dan Ennis • Jan. 29, 2025 -
Courtesy of U.S. Bank
U.S. Bank’s Kedia to become CEO in April
The super-regional lender’s president, Gunjan Kedia, will become the second woman leading a top-10 American bank when she replaces Andy Cecere on April 15.
By Caitlin Mullen • Jan. 28, 2025 -
Anna Moneymaker via Getty Images
Fintechs may gain at banks’ expense in Trump era
The Trump administration may usher in policies that buttress the aspirations of new entrant payments players and increase competition for banks.
By Lynne Marek • Jan. 28, 2025 -
Brandon Bell via Getty Images
X teams with Visa on new digital payments tool
Billionaire Elon Musk’s social media site has forged an alliance with the card network giant to launch a new digital payments tool this year.
By Lynne Marek • Jan. 28, 2025 -
Just_Super via Getty Images
Judge deals SEC, Kraken partial wins in ongoing case
Kraken and the Securities and Exchange Commission both secured partial victories in a ruling about what defenses Kraken can use in the ongoing case between the two.
By Gabrielle Saulsbery • Jan. 27, 2025 -
Courtesy of Ally Financial
Ally to sell credit card business to CardWorks
Plans for the sale were hinted at earlier this year, a month after the CEO said the business wasn’t within Ally’s core focus.
By Gabrielle Saulsbery • Jan. 22, 2025 -
Matt Winkelmeyer via Getty Images
Stripe pushes out 300 employees
Despite the 3.5% cut to the payments services company’s headcount, it still plans to increase its workforce to 10,000 by the end of the year, up from 8,200 now.
By Patrick Cooley • Jan. 22, 2025 -
Avosb via Getty Images
Silvergate ex-CFO seeks dismissal of SEC charges
Antonio Martino filed for dismissal Tuesday, seven months after the SEC fined Silvergate and banned two of its executives from C-suite positions for five years.
By Gabrielle Saulsbery • Jan. 16, 2025 -
Jesse Grant via Getty Images
Block agrees to pay $255M to regulators for Cash App deficiencies
The Consumer Financial Protection Bureau said the payments provider “employed weak security protocols for Cash App and put its users at risk.”
By Lynne Marek • Jan. 16, 2025 -
Leon Neal via Getty Images
Judge stays Coinbase, SEC case
Judge Katherine Polk Failla granted Coinbase an interlocutory appeal, leading to a stay, so another court can decide one of the most pressing questions in crypto.
By Gabrielle Saulsbery • Jan. 8, 2025 -
Getty Images via Getty Images
CFPB picks FDX to set open banking standards
The nonprofit will craft standards for consumer data sharing between financial institutions for the next five years.
By Patrick Cooley • Jan. 8, 2025 -
Anna Hrushka/Banking Dive
Kansas bank challenges $20M FDIC penalty
CBW Bank, charged with failing to maintain adequate anti-money laundering controls, has filed a lawsuit challenging the agency’s action, calling the penalty “unreasonable and unprecedented for a bank of this size.”
By Caitlin Mullen • Jan. 3, 2025 -
Anna Moneymaker via Getty Images
Merchants, banks spar over Fed’s debit card fee proposal
Major trade groups for merchants and banks engaged in another round of fighting last week over whether the Federal Reserve should finalize a lower debit card interchange fee rate.
By Lynne Marek • Jan. 3, 2025 -
Courtesy of Walmart
Walmart forced delivery workers to pay ‘junk fees,’ CFPB alleges
A Consumer Financial Protection Bureau lawsuit alleges the retailer and fintech Branch Messenger illegally opened accounts for drivers, and deposited their pay into accounts without their consent.
By Peyton Bigora • Jan. 2, 2025 -
Michael M. Santiago / Staff via Getty Images
CFPB sues JPMorgan, Bank of America, Wells Fargo over Zelle
Zelle operator Early Warning Services rushed the platform to market to compete with the likes of Venmo and CashApp but without effective safeguards, the agency said.
By Caitlin Mullen • Dec. 20, 2024 -
Chris McGrath/Getty Images Europe via Getty Images
What role do stablecoins play in the payments industry?
With the discussion of stablecoins intensifying after the election of Donald Trump, here’s a primer explaining what this cryptocurrency is and what its practical uses may be.
By Patrick Cooley • Dec. 17, 2024
