The Bank of Lithuania contends the U.S. fintech broke anti-money-laundering rules; while British contactless payments hit a record. That and more in the American Banker global payments roundup.

The proposed $35 billion merger between Capital One and Discover cleared a major regulatory hurdle as the Justice Department told financial regulators in a confidential memo that it didn't have sufficient evidence to block the transaction.

Visa and American Express are both reportedly trying to lure Apple's lucrative credit businesses away from Mastercard. But the battle over processing rights is just as much about accessing the technology company's digital wallet as it is about boosting transactions.

A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.

Jack Dorsey's payments company cut 931 jobs. Also: Western Union looks to artificial intelligence; Marqeta adds an e-marketplace; Westpac takes on scams; and more news in the global payments and fintech roundup.

The Consumer Financial Protection Bureau said it is "optimistic" that a lawsuit challenging the $8 credit card late fee rule can be resolved. The late fee rule is expected to be rescinded by the Trump administration.

Following a media report that Department of Justice staffers have expressed concern about how Capital One's purchase of Discover would affect competition in the subprime credit market, analysts said the portfolio would be tough to sell. But they remain optimistic that the deal will get over the finish line.

Credit cards offer consumers three things stablecoins currently cannot: interest-free short-term loans, rewards programs and transaction reversibility. Your Visa card is going to remain in your wallet for a long time.

Bank technology firm Fiserv agreed to buy the Netherlands-based company, which sells multichannel processing systems. Also: the FCA looks to lighten contactless checkout limits; Ripple's Garlinghouse said the SEC has dropped a suit against his firm; and more news in the global payments and fintech roundup.

Small businesses and consumers deserve the relief that legislation like the Credit Card Competition Act would bring from the fees that burden every card-based transaction. Banks can easily afford it.

Amid troubling news of tariffs and layoffs, dropping delinquencies offer a rare sign of consumer health.

The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister's Plan for Growth. The move was lauded by industry, but some are concerned the FCA won't give payments the attention they deserve.

The company's cards will combine with the Alipay digital wallet, enabling foreign travelers to use local currency while reducing fees and processing steps. That and more in the American Banker global payments roundup.

The fees are controversial for card networks and consumers, but the impact on banks has been muted. Here's why that could change.

Serious delinquencies on auto loans rose to almost 3% in the fourth quarter of 2024, according to the New York Fed. Researchers blame the affordability problem on soaring car prices.

The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.

The credit card issuer's earnings missed Wall Street estimates, but it reported improvement in sales, delinquencies and charge-offs. Management said unclear political direction and cloudy monetary policy could threaten an already conservative outlook for 2025.

Synchrony Financial's fourth-quarter earnings results missed analysts' forecasts and investors pummeled the stock due to a jump in charge-offs.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."