Payments: Page 2


  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
    Image attribution tooltip
    Lynne Marek/Banking Dive
    Image attribution tooltip

    Fed, TCH joust over interoperability

    When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

    By Lynne Marek • May 7, 2024
  • A bicyclist rides by a Wells Fargo bank branch in San Francisco, California
    Image attribution tooltip
    Justin Sullivan / Staff via Getty Images
    Image attribution tooltip

    Wells Fargo says US authorities probing Zelle disputes

    JPMorgan also said it was responding to civil and government authorities’ inquiries regarding handling Zelle customer disputes. The banks did not divulge further details.

    By May 3, 2024
  • Explore the Trendline
    Image attribution tooltip
    Morris MacMatzen / Stringer via Getty Images
    Image attribution tooltip
    Trendline

    Data-driven disruption

    More often than not, an innovator may see disruption as an enhancement to be embraced. And sometimes the innovators are the establishment.

    By Banking Dive staff
  • Patrick and John Collison, Stripe co-founders
    Image attribution tooltip
    Permission granted by Stripe
    Image attribution tooltip

    Stripe unbundles services as industry shifts

    The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.

    By James Pothen • May 1, 2024
  • Header image for "Biden Names 3 Nominees to Fed's Board of Governors"
    Image attribution tooltip
    CFO Editorial Staff
    Image attribution tooltip

    FedNow pricing aimed at avoiding market disruption

    The Federal Reserve sought to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a central bank official said Wednesday.

    By James Pothen , Lynne Marek • April 29, 2024
  • An American flag flies in front of the Capital One logo at the bank's headquarters.
    Image attribution tooltip
    Win McNamee via Getty Images
    Image attribution tooltip

    DOJ examines Capital One-Discover deal’s competitive angle

    The Fed and the OCC extended their comment periods on the proposed acquisition until May 31. Capital One doesn’t “take any signaling” from the regulators’ decision, CEO Richard Fairbank said.

    By April 26, 2024
  • A bronze sculpture of an eagle with a 16-foot wingspan adorns the outside of the Federal Reserve Bank of Atlanta.
    Image attribution tooltip
    Jens_Lambert_Photography via Getty Images
    Image attribution tooltip

    Fed seeks 8,000 financial institutions for FedNow

    About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.

    By Lynne Marek , James Pothen • April 26, 2024
  • anchorage digital cofounders
    Image attribution tooltip
    Permission granted by Anchorage Digital
    Image attribution tooltip
    Q&A

    Anchorage Digital CEO says custody, staking services poised for growth

    Anchorage Digital's newly hired COO Aaron Schnarch will be key in scaling up to meet the increasing institutional demand for safe digital asset infrastructure, CEO Nathan McCauley said.

    By April 24, 2024
  • Binance CEO Changpeng Zhao on stage
    Image attribution tooltip
    The image by Piaras Ó Mídheach/Web Summit via Sportsfile is licensed under CC BY 2.0
    Image attribution tooltip

    US seeks 3 years in prison for Changpeng Zhao, $5.3B fine for Do Kwon

    The federal government is tying up loose ends to address high-profile crypto crimes of yesteryear.

    By April 24, 2024
  • First Internet Bank
    Image attribution tooltip
    Permission granted by First Internet Bank
    Image attribution tooltip

    First Internet Bank CEO talks M&A, BaaS work

    After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.

    By April 24, 2024
  • A person pushes a cart in front of Walmart
    Image attribution tooltip
    Scott Olson via Getty Images
    Image attribution tooltip

    Fintech One offers BNPL at Walmart stores: report

    The move presents competition for BNPL provider Affirm, which has partnered with the retail giant since 2019.

    By April 23, 2024
  • Small wooden box swag from Fed with FedNow logo.
    Image attribution tooltip
    Lynne Marek/Banking Dive
    Image attribution tooltip

    Fed courts nonbanks for FedNow growth

    Nonbanks "help us understand what is needed, what customers are demanding [and] not seeing, what's on the horizon that we should be thinking about," a Chicago Fed specialist said this month.

    By Lynne Marek • April 23, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
    Image attribution tooltip
    Win McNamee / Staff via Getty Images
    Image attribution tooltip

    For Capital One and Discover, the 4th time may have been the charm

    Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.

    By April 22, 2024
  • Truist building
    Image attribution tooltip
    "Truist Plaza" by Tyler Lahti is licensed under CC BY-SA 2.0
    Image attribution tooltip

    Truist CIO, chief audit officer leave bank

    The bank, meanwhile, has added new leaders in its payments business and logged $70 million in restructuring charges in the first quarter, CEO Bill Rogers said Monday.

    By April 22, 2024
  • Image attribution tooltip
    Michael M. Santiago via Getty Images
    Image attribution tooltip

    Pathward to pay refunds, penalty tied to NY AG investigation

    The bank, a frequent partner to fintechs, froze customer accounts and transferred money to debt collectors, violating state law, the NY AG’s office said.

    By April 17, 2024
  • Seal of the Board of Governors of the United States Federal Reserve System.
    Image attribution tooltip
    LD via Getty Images
    Image attribution tooltip

    Fed keeps up CBDC research

    Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

    By Lynne Marek • April 17, 2024
  • U.S. European Commission flags
    Image attribution tooltip
    E4C via Getty Images
    Image attribution tooltip

    US, Europe lock arms on payments regulation

    U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.

    By Lynne Marek • April 15, 2024
  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
    Image attribution tooltip
    hapabapa via Getty Images
    Image attribution tooltip

    Citi’s reorg job toll climbs to 7,000: Fraser

    The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.

    By April 12, 2024
  • KeyBank branch
    Image attribution tooltip
    Courtesy of KeyBank
    Image attribution tooltip

    KeyBank scouts for fintech partners

    The bank, which has yet to strike a fintech partnership this year, generally enters into one to two each year, said Ken Gavrity, president of Key Commercial Bank.

    By April 10, 2024
  • JPMorgan Chase CEO Jamie Dimon
    Image attribution tooltip
    Win McNamee / Staff via Getty Images
    Image attribution tooltip

    Dimon blasts regulation, proxy advisers in annual letter

    The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."

    By April 8, 2024
  • Treasury Prime multi-bank network
    Image attribution tooltip
    Permission granted by Treasury Prime
    Image attribution tooltip

    Treasury Prime, Narmi partner to offer customers FedNow service

    The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

    By April 3, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
    Image attribution tooltip
    Mario Tama via Getty Images
    Image attribution tooltip

    Citi asks judge to toss NY AG’s fraud reimbursement suit

    The bank called Letitia James' lawsuit against the bank a "misguided attempt" to modify the Electronic Fund Transfer Act, when a different law covers wire transfers.

    By April 3, 2024
  • CFPB Director Rohit Chopra participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury
    Image attribution tooltip
    Kevin Dietsch via Getty Images
    Image attribution tooltip

    Credit card complaints surpass bank account gripes at CFPB

    The agency received 70,000 card-related complaints from consumers last year, but complaints regarding checking and savings accounts jumped 33% from 2022, according to a report last week.

    By James Pothen • April 3, 2024
  • Rifles are shown in a gun store
    Image attribution tooltip
    Brandon Bell/Getty Images via Getty Images
    Image attribution tooltip

    Warren reiterates call for gun MCC guidance

    The senator and 32 other Democrats are stressing the need for federal guidance on the gun merchant category code as states take opposing sides.

    By March 29, 2024
  • Ally Financial, NYSE facade
    Image attribution tooltip
    Courtesy of Ally Financial
    Image attribution tooltip

    Ally names Discover CEO to its top post

    A little over a month after starting as Discover's CEO, Michael G. Rhodes is leaving to take the same position at Ally.

    By March 27, 2024
  • Denver Colorado skyscrapers snowy Longs Peak Rocky Mountains summer - stock photo
    Image attribution tooltip
    milehightraveler/iStock/Getty Images Plus via Getty Images
    Image attribution tooltip

    Fintech trade group sues to block Colorado interest-rate cap

    A law set to take effect July 1 would bar state-chartered banks from offering Coloradans installment loans and BNPL products. But it may clear the market for federally chartered banks, plaintiffs say.

    By March 27, 2024