PAYMENTS NEWS
Battle Lines Harden Over a Proposed CCCA Amendment to the GENIUS Act
Jun 5, 2025
The Teamsters Union, along with labor unions in the retail and food-service sectors, sent a letter to Congress Wednesday supporting the Durbin Marhsall Amendment to the GENIUS Act, a bill to regulate stablecoins.
Illinois Delays Implementation of Its First in the Nation Interchange Law
Jun 2, 2025
Illinois lawmakers extended the implementation date for the Interchange Fee Prohibition Act by 12 months early Sunday to July 1, 2026.
Musk departs White House, leaving CFPB in limbo
May 29, 2025
Elon Musk is leaving the Trump administration after guiding some of President Donald Trump's most radical attempts to dissolve government agencies, including efforts to greatly diminish the headcount at the Consumer Financial Protection Bureau.
Trump's CFPB reverses course on 1033 open banking rule
May 28, 2025
The Consumer Financial Protection Bureau signaled that its embattled consumer financial data rights rule may soon be nullified, according to a legal filing submitted just before Memorial Day weekend.
Why Decentralized Computing Models Are Gaining Momentum
May 27, 2025
By building around a model whereby users must find the most energy-efficient sources to unearth new assets, bitcoin mining helped to create a new system of computing.
Durbin, Marshall push credit card amendment
May 23, 2025
Sens. Roger Marshall and Dick Durbin aim to add their Credit Card Competition Act legislation to the GENIUS stablecoin bill advancing in Congress.
How CCCA Sponsors See an Opportunity to Advance the Bill
May 22, 2025
Sponsors of the Credit Card Competition Act saw the passage of the GENIUS Act on a preliminary vote as an opportunity to give the CCCA new life in advance of plans to reintroduce the legislation in the current Congress.
BankThink Agentic AI and blockchain technology are a powerful combination
May 21, 2025
Throughout history there have been very few moments when two transformational technologies emerge in parallel — and it's even rarer that their paths converge in ways that amplify each other's strengths. This is exactly, however, what we're currently witnessing with artificial intelligence and blockchain.
Visa, Mastercard $5.5B settlement advances
May 21, 2025
Plaintiffs in the card network litigation say problematic third-party communications regarding claims has declined since a February filing deadline passed.
CFPB seeks to block states from enforcing federal laws
May 20, 2025
The Consumer Financial Protection Bureau has withdrawn guidance from the Biden administration that had expanded states' rights, allowing individual states to broadly enforce violations of federal consumer protection laws.
Senate advances a major crypto regulation bill on a bipartisan vote
May 20, 2025
The vote on the GENIUS Act, which would set up a regulatory for stablecoins, came two weeks after Senate Democrats blocked the measure.
Senate to try again to advance crypto bill after Democratic opposition tanked first vote
May 19, 2025
The Senate is expected to take a key procedural vote Monday evening on a crypto regulation bill after Democratic opposition tanked an initial attempt to advance the measure earlier this month amid concern over ties between the digital asset industry and the Trump family.
Capital One closes Discover deal
May 19, 2025
Completion of the combination results in the richest banking deal of the past six years and creates the nation’s largest credit card issuer.
AI Explainer: How Large Transaction Models Are Securing Payment Flows
May 16, 2025
Digital transformation has opened a fire hose of new information flows, particularly around payments and commerce.
Trump's CFPB has dropped half of all pending litigation
May 15, 2025
The Consumer Financial Protection Bureau has dismissed or withdrawn more than half of its pending enforcement cases as the Trump administration clears the docket of work it inherited from the Biden era.
Nevada bill would charter new payment banks
May 14, 2025
The new banks would connect directly to real-time payment rails like FedNow and ACH to potentially lower retailers’ transaction costs.
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.