Cards

The Consumer Financial Protection Bureau is facing renewed pressure by consumer groups and think tanks to move forward with a plan that would rein in overdraft programs.

The Federal Reserve and Federal Trade Commission investigated Visa for debit practices, a move that enhances competition in the marketplace for merchants.

Issuers of prepaid cards often say their products are a good tool for budgeting, but it's rarer to hear merchants market their own branded prepaid cards this way. Walmart is retooling its prepaid strategy to focus on saving in an effort to improve the financial habits of its customers.

The potential user base is huge. Tencent Holdings has 846 million global monthly active-user WeChat accounts, and more than 300 million have linked bank cards.

President-elect Trump has a number of options to change the Consumer Financial Protection Bureau and its leadership, but each moves carries at least some risk.

J.G. Wentworth's quirky Broadway-style ads have made it familiar as a structured settlement purchase company, and as it attempts to grab share in the prepaid market it's looking to lottery agencies to make sure its strategy is no gamble.

President-elect Donald Trump recognizes that full repeal of the Dodd-Frank Act is unlikely, though he supports a House effort to make significant changes, according to a former banker who was on the shortlist to be Treasury secretary.

Payments processor and technology provider Total System Services Inc. has begun a long-term agreement to provide debit transaction processing for Virgin Money customers in the U.K.

India’s war on cash has at least two likely victors: Visa Inc. and Mastercard Inc.

Visa Inc. has clarified its position on EMV debit card routing to address growing concern among merchants that the card brand's rules were forcing those transactions onto the Visa network rather than allowing merchants to choose among less expensive options.