C|C Payments Blog

Payments News Update – November 7, 2025

Legal and Regulatory Developments SPOTLIGHT: Wells Fargo, PNC Push Fintechs to Use Bank-Backed Data Firm Bloomberg Law – November 4, 2025 (subscription may be required) Wells Fargo & Co. and PNC Financial Services Group Inc. are trying to force data aggregators and fintechs to use a bank-backed firm that charges fees to access customer data, the latest salvo in a fight between traditional lenders and...

Payments News Update – October 31, 2025

Legal and Regulatory Developments SPOTLIGHT: Senator Urges CFPB to Finalize New Open-Banking Rules ‘As Soon as Possible’ Competition Policy International – October 24, 2025 (subscription may be required) The chair of the Senate Banking Subcommittee on Digital Assets, Sen. Cynthia Lummis (R-WY) wrote to Acting Director of the Consumer Financial Protection Bureau (CFPB) Russell Vought to urge the agency to...

Payments News Update – October 24, 2025

Legal and Regulatory Developments SPOTLIGHT: Calif. Credit Cardholders Can't Get Swipe Fee Case Do-Over Law360 – October 20, 2025 (subscription required) A New York federal judge who was recently assigned to a putative interchange fee class action lawsuit from California cardholders against Visa, Mastercard and major banks in long-running multidistrict litigation has denied their motion for reconsideration of...

Payments News Update – October 17, 2025

Legal and Regulatory Developments SPOTLIGHT: Visa, Mastercard Agree to $199.5 Million Settlement in Merchants’ Class Action Reuters – October 13, 2025 (subscription may be required) Visa and Mastercard have agreed to pay a combined $199.5 million to settle a nearly decade-old class action that accused them of forcing merchants to swallow some of the costs of fraudulent transactions involving counterfeit,...

Payments News Update – October 10, 2025

Legal and Regulatory Developments SPOTLIGHT: Retailers Push for Rounding Law to Avert Penny Shortage Law360 – October 3, 2025 (subscription required) A coalition of major retail and restaurant trade associations has urged the leaders of congressional banking committees to quickly enact national legislation for cash transaction rounding in light of the end of U.S. penny production. In their Wednesday...

Payments News Update – October 3, 2025

Legal and Regulatory Developments SPOTLIGHT: Technology Could Make Payments Cheaper: Waller Payments Dive – September 30, 2025 Stablecoins and distributed ledger technology could make payments cheaper and more efficient and shouldn’t be feared, Federal Reserve Board Governor Christopher Waller said Monday in a speech. “Let us remember that this is not a new story and that we should not fear new...

Payments News Update – September 26, 2025

Legal and Regulatory Developments SPOTLIGHT: Payment Players Offer Fraud Fixes Payments Dive – September 23, 2025 Companies battling payments fraud need better information- and data-sharing, enhanced consumer education and help from telecommunications and social media companies, according to suggestions this month in response to a federal call for ideas to tackle the problem. Those were among the...

Payments News Update – September 19, 2025

Legal and Regulatory Developments SPOTLIGHT: US Judge Upholds Fed’s Debit Card 'Swipe Fees' Rule, in Split With Other Court Reuters – September 15, 2025 A U.S. judge on Monday upheld the Federal Reserve’s “swipe fees” regulation that caps the amount banks charge merchants for processing debit transactions, a win for the board after a different federal judge last month reached the opposite conclusion...

Payments News Update – September 12, 2025

Legal and Regulatory Developments SPOTLIGHT: Sorting Winners From Losers in Debit Digital Transactions Magazine – September 1, 2025 With merchants prevailing in their long-running legal battle to overturn debit rate caps set by the Federal Reserve, the largest debit card issuers could wind up the biggest losers, while Capital One Financial Corp. emerges as the big winner. U.S. District Court for the...

Payments News Update – August 29, 2025

Legal and Regulatory Developments SPOTLIGHT: Visa Abandons Open Banking in US as Data-Access Debate Rages Bloomberg – August 22, 2025 (subscription may be required) Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter. The payments company has closed...