For decades, compliance has been viewed as a necessary but costly burden — a box to check to avoid penalties, maintain licenses and keep regulators at bay. But 2024 marked a turning point for compliance in the payments and financial services sectors, in part marked...
Sweeping changes to debit card interchange fees — and the ways debit transactions are facilitated — may come in 2025. As a result, the economics of debit payments may also change, with ripple effects that impact issuing banks, merchants and consumers. The Fed in Focus...
This year was marked by a steady drumbeat of regulations and rules — and requests from regulators for information and comments from financial services players — touching on everything from credit card late fees to data sharing. But 2025 seems more like a wild card....
Four financial authorities in the United Kingdom said they are working to improve their cooperation and will revise their agreement as the government pursues its National Payments Vision. The Bank of England, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment...
Could TikTok have a future in the U.S. under a new administration? President-elect Donald Trump seemed to signal as much in a speech to conservative supporters Sunday (Dec. 22). “I think we’re going to have to start thinking because, you know, we did go on TikTok, and we had...
The Dutch Data Protection Authority (Dutch DPA) fined Netflix 4.75 million euros (about $4.95 million), saying that between 2018 and 2020, the company did not give its customers enough information about what it does with their personal data. The regulator said Netflix violated the General...
New Zealand’s Commerce Commission has proposed reducing the fees the country’s businesses pay for accepting Mastercard and Visa payments. The Commission issued its draft decision Wednesday (Dec. 18) and is seeking feedback on it from consumers and businesses by Feb. 18, 2025, it said in...
Grubhub will pay $25 million and make several changes to its operations to settle charges that it violated consumer protection and competition laws. The proposed settlement covers charges from the Federal Trade Commission (FTC) and the Illinois attorney general, the FTC said in a Tuesday...
The Securities and Exchange Commission (SEC) settled charges with Express, Inc., in which it alleged that the fashion retailer failed to disclose executive compensation paid to its now-former CEO in fiscal years 2019, 2020 and 2021. Express Inc.’s failure to disclose $979,269 worth of perks...
